Azzad Asset Management Inc. ADV Makes New Investment in Weyerhaeuser (NYSE:WY)

Azzad Asset Management Inc. ADV purchased a new position in Weyerhaeuser (NYSE:WY) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 103,517 shares of the real estate investment trust’s stock, valued at approximately $3,031,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Cohen & Steers Inc. boosted its position in shares of Weyerhaeuser by 57.5% during the 4th quarter. Cohen & Steers Inc. now owns 38,928,176 shares of the real estate investment trust’s stock valued at $1,095,726,000 after acquiring an additional 14,213,243 shares during the last quarter. Norges Bank bought a new position in shares of Weyerhaeuser during the 4th quarter valued at approximately $638,470,000. Geode Capital Management LLC boosted its position in shares of Weyerhaeuser by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 20,171,701 shares of the real estate investment trust’s stock valued at $566,527,000 after acquiring an additional 637,643 shares during the last quarter. First Eagle Investment Management LLC boosted its position in shares of Weyerhaeuser by 1.1% during the 4th quarter. First Eagle Investment Management LLC now owns 14,362,306 shares of the real estate investment trust’s stock valued at $404,299,000 after acquiring an additional 158,800 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Weyerhaeuser by 3.5% during the 4th quarter. Northern Trust Corp now owns 9,538,125 shares of the real estate investment trust’s stock valued at $268,498,000 after acquiring an additional 322,313 shares during the last quarter. 82.99% of the stock is currently owned by institutional investors.

Weyerhaeuser Stock Performance

WY stock opened at $26.81 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.79 and a debt-to-equity ratio of 0.50. The business’s fifty day simple moving average is $26.00 and its two-hundred day simple moving average is $28.35. Weyerhaeuser has a twelve month low of $24.10 and a twelve month high of $34.03. The firm has a market cap of $19.44 billion, a price-to-earnings ratio of 48.74, a PEG ratio of 4.74 and a beta of 1.16.

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

Weyerhaeuser announced that its board has authorized a share repurchase program on Thursday, May 8th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the real estate investment trust to buy up to 5.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Weyerhaeuser Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.84 dividend on an annualized basis and a yield of 3.13%. Weyerhaeuser’s payout ratio is 168.00%.

Analyst Ratings Changes

A number of research analysts have recently commented on WY shares. JPMorgan Chase & Co. started coverage on Weyerhaeuser in a research report on Tuesday, April 8th. They set an “overweight” rating and a $31.00 target price for the company. The Goldman Sachs Group downgraded Weyerhaeuser from a “strong-buy” rating to a “strong sell” rating in a research report on Friday, May 23rd. CIBC decreased their price target on Weyerhaeuser from $35.00 to $32.00 and set an “outperformer” rating on the stock in a report on Tuesday, April 22nd. Citigroup decreased their price target on Weyerhaeuser from $35.00 to $31.00 and set a “buy” rating on the stock in a report on Tuesday, June 3rd. Finally, Truist Financial decreased 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $33.25.

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.