Weyerhaeuser Company $WY Shares Sold by Garner Asset Management Corp

Garner Asset Management Corp cut its holdings in shares of Weyerhaeuser Company (NYSE:WY) by 55.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Employees Retirement System of Texas acquired a new stake in shares of Weyerhaeuser during the 2nd quarter worth $118,000. Northwest & Ethical Investments L.P. boosted its holdings in Weyerhaeuser by 49.9% in the second quarter. Northwest & Ethical Investments L.P. now owns 126,329 shares of the real estate investment trust’s stock valued at $3,245,000 after acquiring an additional 42,074 shares during the last quarter. Russell Investments Group Ltd. grew its position in Weyerhaeuser by 18.7% during the second quarter. Russell Investments Group Ltd. now owns 3,357,852 shares of the real estate investment trust’s stock valued at $86,284,000 after acquiring an additional 528,269 shares during the period. Inceptionr LLC acquired a new stake in Weyerhaeuser during the second quarter worth about $1,742,000. Finally, J.W. Cole Advisors Inc. increased its stake in Weyerhaeuser by 4.7% during the second quarter. J.W. Cole Advisors Inc. now owns 38,886 shares of the real estate investment trust’s stock worth $999,000 after acquiring an additional 1,757 shares during the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Zacks Research raised Weyerhaeuser from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. Truist Financial reduced their price target on shares of Weyerhaeuser from $29.00 to $27.00 and set a “hold” rating on the stock in a research report on Monday, October 13th. DA Davidson decreased their price objective on shares of Weyerhaeuser from $35.00 to $31.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. Wall Street Zen lowered shares of Weyerhaeuser from a “hold” rating to a “sell” rating in a research report on Sunday, August 3rd. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Weyerhaeuser in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Weyerhaeuser currently has an average rating of “Moderate Buy” and an average target price of $29.78.

Weyerhaeuser Stock Up 0.6%

Shares of NYSE:WY opened at $22.27 on Thursday. The company has a market capitalization of $16.05 billion, a price-to-earnings ratio of 58.59, a price-to-earnings-growth ratio of 244.04 and a beta of 1.04. The company has a 50 day moving average of $23.44 and a two-hundred day moving average of $25.07. Weyerhaeuser Company has a 52-week low of $21.16 and a 52-week high of $32.70. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 0.45.

Weyerhaeuser (NYSE:WY) last posted its earnings results on Thursday, October 30th. The real estate investment trust reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.13. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Weyerhaeuser had a net margin of 3.97% and a return on equity of 2.95%. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.05 earnings per share. As a group, analysts forecast that Weyerhaeuser Company will post 0.78 earnings per share for the current fiscal year.

Weyerhaeuser Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 28th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Friday, November 28th. Weyerhaeuser’s dividend payout ratio 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.