Sumitomo Mitsui Trust Group Inc. Sells 74,114 Shares of Weyerhaeuser Company $WY

Sumitomo Mitsui Trust Group Inc. lowered its position in Weyerhaeuser Company (NYSE:WY) by 5.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,417,506 shares of the real estate investment trust’s stock after selling 74,114 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Weyerhaeuser were worth $34,630,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Nordea Investment Management AB raised its stake in Weyerhaeuser by 2.1% in the fourth quarter. Nordea Investment Management AB now owns 2,370,437 shares of the real estate investment trust’s stock valued at $56,310,000 after buying an additional 47,709 shares during the period. Cambria Investment Management L.P. acquired a new position in shares of Weyerhaeuser during the 3rd quarter worth approximately $1,265,000. CIBC Bancorp USA Inc. acquired a new position in shares of Weyerhaeuser during the 3rd quarter worth approximately $7,172,000. Cantor Fitzgerald Investment Advisors L.P. bought a new stake in Weyerhaeuser in the 4th quarter valued at $7,870,000. Finally, Bfsg LLC raised its stake in Weyerhaeuser by 44.0% in the 4th quarter. Bfsg LLC now owns 274,190 shares of the real estate investment trust’s stock valued at $6,496,000 after acquiring an additional 83,806 shares during the period. Institutional investors own 82.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on WY shares. Canadian Imperial Bank of Commerce set a $28.00 price target on Weyerhaeuser in a report on Thursday, April 23rd. Citigroup dropped their price objective on shares of Weyerhaeuser from $32.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. DA Davidson restated a “buy” rating and set a $31.00 target price on shares of Weyerhaeuser in a research note on Tuesday, June 30th. Raymond James Financial raised shares of Weyerhaeuser from an “outperform” rating to a “strong-buy” rating and set a $30.00 target price for the company in a report on Friday. Finally, Weiss Ratings lowered shares of Weyerhaeuser from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 25th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Weyerhaeuser currently has an average rating of “Moderate Buy” and a consensus price target of $29.11.

Weyerhaeuser Stock Performance

Shares of NYSE WY opened at $23.39 on Tuesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.42 and a quick ratio of 0.80. The firm has a market cap of $16.87 billion, a price-to-earnings ratio of 43.32, a P/E/G ratio of 1.31 and a beta of 0.89. The stock’s fifty day moving average price is $23.96 and its two-hundred day moving average price is $24.62. Weyerhaeuser Company has a one year low of $21.16 and a one year high of $27.75.

Weyerhaeuser (NYSE:WY) last posted its earnings results on Thursday, April 30th. The real estate investment trust reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.07. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.72 billion. Weyerhaeuser had a return on equity of 1.45% and a net margin of 5.78%.The company’s revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.11 earnings per share. On average, equities analysts forecast that Weyerhaeuser Company will post 0.32 EPS for the current year.

Weyerhaeuser Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Friday, June 5th were paid a $0.21 dividend. The ex-dividend date was Friday, June 5th. This represents a $0.84 annualized dividend and a yield of 3.6%. Weyerhaeuser’s payout ratio is 155.56%.

Weyerhaeuser Profile

Weyerhaeuser Company (NYSE: WY) is a leading integrated forest products company whose core businesses are timberland ownership and forest products manufacturing. The company owns and manages large tracts of timberland and harvests, processes and sells wood and wood-derived products used primarily in residential and industrial construction. Its manufacturing operations produce a range of building materials, including lumber, engineered wood products and wood panels, alongside fiber-based products that serve multiple commercial applications.

Founded in 1900 by Frederick Weyerhaeuser and headquartered in Seattle, Washington, the company has a long history in the North American forest products industry.