Rafferty Asset Management LLC Sells 7,771 Shares of Weyerhaeuser (NYSE:WY)

Rafferty Asset Management LLC trimmed its stake in Weyerhaeuser (NYSE:WY) by 7.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 95,613 shares of the real estate investment trust’s stock after selling 7,771 shares during the period. Rafferty Asset Management LLC’s holdings in Weyerhaeuser were worth $2,692,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. South Plains Financial Inc. acquired a new stake in Weyerhaeuser in the fourth quarter valued at $25,000. Assetmark Inc. grew its holdings in Weyerhaeuser by 290.9% during the 4th quarter. Assetmark Inc. now owns 1,239 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 922 shares during the period. Asset Planning Inc acquired a new stake in Weyerhaeuser during the 4th quarter worth about $36,000. TD Waterhouse Canada Inc. grew its holdings in Weyerhaeuser by 136.1% during the 4th quarter. TD Waterhouse Canada Inc. now owns 1,400 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 807 shares during the period. Finally, Lee Danner & Bass Inc. acquired a new stake in Weyerhaeuser during the 4th quarter worth about $44,000. 82.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WY has been the subject of a number of recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set 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. Truist Financial decreased their price target on Weyerhaeuser from $33.00 to $30.00 and set a “hold” rating for the company in a report on Tuesday, April 22nd. CIBC decreased their price target on Weyerhaeuser from $35.00 to $32.00 and set an “outperformer” rating for the company in a report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. initiated coverage on Weyerhaeuser in a report on Tuesday, April 8th. They set an “overweight” rating and a $31.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Weyerhaeuser has an average rating of “Moderate Buy” and an average target price of $33.75.

Weyerhaeuser Stock Performance

Shares of WY opened at $26.49 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.79 and a quick ratio of 1.17. The stock has a 50-day moving average of $26.97 and a 200-day moving average of $28.98. The company has a market cap of $19.21 billion, a PE ratio of 48.16, a P/E/G ratio of 4.74 and a beta of 1.15. Weyerhaeuser has a one year low of $24.10 and a one year 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, meeting the consensus estimate of $0.11. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.80 billion. Weyerhaeuser had a return on equity of 3.86% and a net margin of 5.56%. The firm’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period last year, the business posted $0.16 EPS. On average, equities research analysts predict that Weyerhaeuser will post 0.78 EPS for the current fiscal year.

Weyerhaeuser Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.84 dividend on an annualized basis and a yield of 3.17%. Weyerhaeuser’s dividend payout ratio (DPR) is currently 168.00%.

Weyerhaeuser declared that its board has initiated a share repurchase plan on Thursday, May 8th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the real estate investment trust to buy up to 5.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.

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.