Garner Asset Management Corp Trims Holdings in Weyerhaeuser Company $WY

Garner Asset Management Corp lowered its stake in shares of Weyerhaeuser Company (NYSE:WY) by 55.0% in the second quarter, Holdings Channel reports. The institutional investor owned 16,557 shares of the real estate investment trust’s stock after selling 20,215 shares during the quarter. Garner Asset Management Corp’s holdings in Weyerhaeuser were worth $425,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in WY. Vanguard Group Inc. boosted its stake in Weyerhaeuser by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 114,318,728 shares of the real estate investment trust’s stock valued at $2,936,848,000 after acquiring an additional 542,912 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Weyerhaeuser by 0.5% during the first quarter. Wellington Management Group LLP now owns 35,766,174 shares of the real estate investment trust’s stock worth $1,047,234,000 after purchasing an additional 193,854 shares during the last quarter. Geode Capital Management LLC grew its stake in Weyerhaeuser by 1.7% in the second quarter. Geode Capital Management LLC now owns 19,909,790 shares of the real estate investment trust’s stock worth $509,460,000 after purchasing an additional 340,948 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Weyerhaeuser by 86.5% in the second quarter. Bank of New York Mellon Corp now owns 13,550,466 shares of the real estate investment trust’s stock worth $348,111,000 after purchasing an additional 6,284,982 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Weyerhaeuser by 11.5% in the second quarter. JPMorgan Chase & Co. now owns 13,306,064 shares of the real estate investment trust’s stock valued at $341,833,000 after buying an additional 1,374,109 shares during the last quarter. Institutional investors own 82.99% of the company’s stock.

Wall Street Analyst Weigh In

WY has been the subject of several research reports. Wall Street Zen lowered Weyerhaeuser from a “hold” rating to a “sell” rating in a research report on Sunday, August 3rd. Bank of America reaffirmed a “neutral” rating and issued a $26.00 price objective (down previously from $29.00) on shares of Weyerhaeuser in a report on Monday, November 17th. JPMorgan Chase & Co. lowered their target price on shares of Weyerhaeuser from $28.00 to $27.00 and set an “overweight” rating for the company in a research note on Friday, November 14th. Royal Bank Of Canada dropped their target price on shares of Weyerhaeuser from $31.00 to $30.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Finally, Truist Financial decreased their price target on shares of Weyerhaeuser from $29.00 to $27.00 and set a “hold” rating for the company in a report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $29.78.

Weyerhaeuser Price Performance

Shares of NYSE WY opened at $22.27 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.04 and a quick ratio of 0.68. The firm has a market capitalization of $16.05 billion, a PE ratio of 58.59, a P/E/G ratio of 244.04 and a beta of 1.04. Weyerhaeuser Company has a 1-year low of $21.16 and a 1-year high of $32.70. The business’s fifty day moving average price is $23.44 and its two-hundred day moving average price is $25.07.

Weyerhaeuser (NYSE:WY) last released its quarterly earnings results on Thursday, October 30th. The real estate investment trust reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.13. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.71 billion. Weyerhaeuser had a net margin of 3.97% and a return on equity of 2.95%. The company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.05 earnings per share. On average, research analysts expect that Weyerhaeuser Company will post 0.78 EPS for the current year.

Weyerhaeuser Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 28th will be paid a $0.21 dividend. The ex-dividend date is Friday, November 28th. This represents a $0.84 annualized dividend and a dividend yield of 3.8%. Weyerhaeuser’s dividend payout ratio (DPR) is presently 186.67%.

Weyerhaeuser 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.