Cullen Investment Group LTD. Trims Stock Position in Weyerhaeuser (NYSE:WY)

Cullen Investment Group LTD. lessened its position in shares of Weyerhaeuser (NYSE:WY) by 6.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 45,456 shares of the real estate investment trust’s stock after selling 3,183 shares during the quarter. Cullen Investment Group LTD.’s holdings in Weyerhaeuser were worth $1,331,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in WY. Barclays PLC raised its position in shares of Weyerhaeuser by 9.6% during the 3rd quarter. Barclays PLC now owns 1,754,479 shares of the real estate investment trust’s stock valued at $59,406,000 after buying an additional 153,919 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Weyerhaeuser by 33.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 42,746 shares of the real estate investment trust’s stock valued at $1,203,000 after buying an additional 10,601 shares during the period. Inspire Investing LLC raised its position in shares of Weyerhaeuser by 9.9% during the 4th quarter. Inspire Investing LLC now owns 9,234 shares of the real estate investment trust’s stock valued at $260,000 after buying an additional 830 shares during the period. Exchange Traded Concepts LLC raised its position in shares of Weyerhaeuser by 13.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 7,790 shares of the real estate investment trust’s stock valued at $219,000 after buying an additional 922 shares during the period. Finally, Fifth Third Bancorp raised its position in shares of Weyerhaeuser by 4.4% during the 4th quarter. Fifth Third Bancorp now owns 60,185 shares of the real estate investment trust’s stock valued at $1,694,000 after buying an additional 2,545 shares during the period. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. CIBC dropped their target price on shares of Weyerhaeuser from $35.00 to $32.00 and set an “outperformer” rating for the company in a report on Tuesday, April 22nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 target price on shares of Weyerhaeuser in a report on Monday, February 3rd. JPMorgan Chase & Co. assumed coverage on shares of Weyerhaeuser in a report on Tuesday, April 8th. They issued an “overweight” rating and a $31.00 target price for the company. Truist Financial dropped their target price on shares of Weyerhaeuser from $33.00 to $30.00 and set a “hold” rating for the company in a report on Tuesday, April 22nd. Finally, The Goldman Sachs Group downgraded shares of Weyerhaeuser from a “strong-buy” rating to a “strong sell” rating in a report on Friday, May 23rd. One research 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.75.

Weyerhaeuser Stock Performance

Shares of WY stock opened at $25.88 on Thursday. The company has a current ratio of 1.79, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. The firm has a fifty day moving average price of $26.40 and a 200 day moving average price of $28.72. The company has a market cap of $18.77 billion, a P/E ratio of 47.06, a PEG ratio of 4.74 and a beta of 1.15. Weyerhaeuser has a 12 month low of $24.10 and a 12 month high of $34.03.

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

Weyerhaeuser announced that its Board of Directors has authorized a share repurchase plan on Thursday, May 8th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the real estate investment trust to purchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Weyerhaeuser Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, May 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.25%. Weyerhaeuser’s payout ratio is currently 168.00%.

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.