Royal Bank of Canada Acquires 123,059 Shares of Weyerhaeuser (NYSE:WY)

Royal Bank of Canada raised its position in shares of Weyerhaeuser (NYSE:WY) by 6.7% in the fourth quarter, HoldingsChannel reports. The firm owned 1,965,757 shares of the real estate investment trust’s stock after acquiring an additional 123,059 shares during the period. Royal Bank of Canada’s holdings in Weyerhaeuser were worth $55,338,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Truist Financial Corp raised its position in Weyerhaeuser by 2.8% during the 4th quarter. Truist Financial Corp now owns 50,889 shares of the real estate investment trust’s stock valued at $1,433,000 after purchasing an additional 1,373 shares in the last quarter. Sonora Investment Management Group LLC raised its position in Weyerhaeuser by 56.5% during the 4th quarter. Sonora Investment Management Group LLC now owns 51,785 shares of the real estate investment trust’s stock valued at $1,458,000 after purchasing an additional 18,698 shares in the last quarter. Jones Financial Companies Lllp raised its position in Weyerhaeuser by 36.7% during the 4th quarter. Jones Financial Companies Lllp now owns 11,482 shares of the real estate investment trust’s stock valued at $323,000 after purchasing an additional 3,084 shares in the last quarter. Janney Montgomery Scott LLC raised its position in 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 purchasing an additional 10,601 shares in the last quarter. Finally, Barclays PLC raised its position in 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 purchasing an additional 153,919 shares in the last quarter. 82.99% of the stock is owned by institutional investors.

Weyerhaeuser Trading Down 1.1%

Shares of NYSE:WY opened at $26.20 on Wednesday. Weyerhaeuser has a 12-month low of $24.10 and a 12-month high of $34.03. The business’s fifty day simple moving average is $26.92 and its 200-day simple moving average is $28.96. 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 company has a market capitalization of $19.00 billion, a PE ratio of 47.64, a P/E/G ratio of 4.74 and a beta of 1.15.

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

Weyerhaeuser declared that its Board of Directors has authorized a stock buyback program on Thursday, May 8th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the real estate investment trust to purchase up to 5.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Weyerhaeuser Dividend Announcement

The firm 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 annualized dividend and a yield of 3.21%. Weyerhaeuser’s dividend payout ratio (DPR) is 168.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on WY shares. CIBC decreased their target price on Weyerhaeuser from $35.00 to $32.00 and set an “outperformer” rating for the company in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. assumed coverage on Weyerhaeuser in a report on Tuesday, April 8th. They issued an “overweight” rating and a $31.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price target on shares of Weyerhaeuser in a report on Monday, February 3rd. StockNews.com upgraded Weyerhaeuser from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. Finally, Truist Financial cut their price target on Weyerhaeuser from $33.00 to $30.00 and set a “hold” rating on the stock in a report on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $33.75.

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.