QRG Capital Management Inc. Buys 69,379 Shares of Weyerhaeuser (NYSE:WY)

QRG Capital Management Inc. lifted its stake in shares of Weyerhaeuser (NYSE:WY) by 23.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 370,230 shares of the real estate investment trust’s stock after purchasing an additional 69,379 shares during the quarter. QRG Capital Management Inc. owned about 0.05% of Weyerhaeuser worth $10,840,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in WY. Norges Bank bought a new position in shares of Weyerhaeuser during the 4th quarter worth about $638,470,000. Cohen & Steers Inc. boosted its position in shares of Weyerhaeuser by 57.5% during the 4th quarter. Cohen & Steers Inc. now owns 38,928,176 shares of the real estate investment trust’s stock worth $1,095,726,000 after purchasing an additional 14,213,243 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in Weyerhaeuser by 122.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 4,881,592 shares of the real estate investment trust’s stock valued at $137,417,000 after acquiring an additional 2,685,634 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its position in Weyerhaeuser by 23,525.2% in the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 1,428,378 shares of the real estate investment trust’s stock valued at $41,823,000 after acquiring an additional 1,422,332 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in Weyerhaeuser by 43.6% in the 4th quarter. Deutsche Bank AG now owns 4,196,790 shares of the real estate investment trust’s stock valued at $118,140,000 after acquiring an additional 1,273,217 shares in the last quarter. Institutional investors own 82.99% of the company’s stock.

Weyerhaeuser Price Performance

Weyerhaeuser stock opened at $26.72 on Tuesday. Weyerhaeuser has a 52 week low of $24.10 and a 52 week high of $34.03. The company’s 50 day moving average price is $26.04 and its two-hundred day moving average price is $28.26. The company has a quick ratio of 1.17, a current ratio of 1.79 and a debt-to-equity ratio of 0.50. The stock has a market cap of $19.38 billion, a P/E ratio of 48.58, a P/E/G ratio of 4.74 and a beta of 1.16.

Weyerhaeuser (NYSE:WY) last posted its earnings results on Thursday, April 24th. The real estate investment trust reported $0.11 EPS for the quarter, hitting the consensus estimate of $0.11. Weyerhaeuser had a net margin of 5.56% and a return on equity of 3.86%. The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter last year, the firm earned $0.16 EPS. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. On average, equities analysts predict that Weyerhaeuser will post 0.78 earnings per share for the current year.

Weyerhaeuser Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.14%. Weyerhaeuser’s dividend payout ratio (DPR) is presently 168.00%.

Weyerhaeuser announced that its board has approved a share repurchase program on Thursday, May 8th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the real estate investment trust to buy up to 5.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group cut shares of Weyerhaeuser from a “strong-buy” rating to a “strong sell” rating in a research report on Friday, May 23rd. Citigroup dropped their price target on shares of Weyerhaeuser from $35.00 to $31.00 and set a “buy” rating on the stock in a research report on Tuesday, June 3rd. Truist Financial dropped their price target on shares of Weyerhaeuser from $33.00 to $30.00 and set a “hold” rating on the stock in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. assumed coverage on shares of Weyerhaeuser in a research report on Tuesday, April 8th. They issued an “overweight” rating and a $31.00 price target on the stock. Finally, CIBC dropped their price target on shares of Weyerhaeuser from $35.00 to $32.00 and set an “outperformer” rating on the stock in a research report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Weyerhaeuser has a consensus rating of “Moderate Buy” and an average price target of $33.25.

Weyerhaeuser Company Profile

Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control approximately 11 million acres of timberlands in the U.S. and manage additional timberlands under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards.