Weyerhaeuser (NYSE:WY) Shares Sold by Vestcor Inc

Vestcor Inc lessened its holdings in Weyerhaeuser (NYSE:WY) by 51.7% during the third quarter, Holdings Channel.com reports. The firm owned 14,850 shares of the real estate investment trust’s stock after selling 15,905 shares during the quarter. Vestcor Inc’s holdings in Weyerhaeuser were worth $503,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WY. Wellington Management Group LLP increased its holdings in shares of Weyerhaeuser by 12.7% in the 3rd quarter. Wellington Management Group LLP now owns 35,755,865 shares of the real estate investment trust’s stock valued at $1,210,694,000 after purchasing an additional 4,035,048 shares in the last quarter. State Street Corp grew its position in Weyerhaeuser by 2.5% during the third quarter. State Street Corp now owns 31,407,646 shares of the real estate investment trust’s stock worth $1,063,463,000 after buying an additional 761,757 shares during the period. Legal & General Group Plc increased its holdings in Weyerhaeuser by 4.6% in the second quarter. Legal & General Group Plc now owns 11,428,336 shares of the real estate investment trust’s stock valued at $324,450,000 after buying an additional 503,059 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Weyerhaeuser by 5.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,740,119 shares of the real estate investment trust’s stock valued at $295,940,000 after acquiring an additional 454,095 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Weyerhaeuser by 30.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,603,246 shares of the real estate investment trust’s stock worth $291,306,000 after acquiring an additional 2,004,073 shares in the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.

Weyerhaeuser Stock Down 1.2 %

WY opened at $30.04 on Friday. The firm has a market cap of $21.83 billion, a P/E ratio of 40.59 and a beta of 1.40. The business’s fifty day simple moving average is $31.72 and its 200 day simple moving average is $30.85. Weyerhaeuser has a 52 week low of $26.73 and a 52 week high of $36.27. The company has a quick ratio of 1.41, a current ratio of 2.01 and a debt-to-equity ratio of 0.49.

Weyerhaeuser (NYSE:WY) last released its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.03. The company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Weyerhaeuser had a net margin of 7.43% and a return on equity of 4.21%. The firm’s revenue for the quarter was down 13.3% compared to the same quarter last year. During the same period last year, the company earned $0.33 EPS. As a group, equities research analysts anticipate that Weyerhaeuser will post 0.46 EPS for the current fiscal year.

Weyerhaeuser Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.80 annualized dividend and a yield of 2.66%. Weyerhaeuser’s dividend payout ratio (DPR) is presently 108.11%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on WY shares. BMO Capital Markets raised Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $38.00 price objective for the company in a report on Friday, December 6th. StockNews.com downgraded Weyerhaeuser from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. Finally, Truist Financial increased their price objective on shares of Weyerhaeuser from $31.00 to $34.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $36.33.

About Weyerhaeuser

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.