Weyerhaeuser Company $WY Shares Acquired by Pacific Heights Asset Management LLC

Pacific Heights Asset Management LLC increased its stake in Weyerhaeuser Company (NYSE:WY) by 25.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 750,000 shares of the real estate investment trust’s stock after acquiring an additional 150,000 shares during the period. Pacific Heights Asset Management LLC’s holdings in Weyerhaeuser were worth $17,955,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Wellington Management Group LLP increased its position in Weyerhaeuser by 4.4% in the fourth quarter. Wellington Management Group LLP now owns 41,378,212 shares of the real estate investment trust’s stock worth $980,250,000 after buying an additional 1,731,315 shares during the period. First Eagle Investment Management LLC boosted its holdings in shares of Weyerhaeuser by 166.1% during the fourth quarter. First Eagle Investment Management LLC now owns 37,621,004 shares of the real estate investment trust’s stock valued at $891,242,000 after acquiring an additional 23,485,504 shares during the period. State Street Corp boosted its holdings in shares of Weyerhaeuser by 1.7% during the fourth quarter. State Street Corp now owns 33,031,378 shares of the real estate investment trust’s stock valued at $782,513,000 after acquiring an additional 562,781 shares during the period. Norges Bank bought a new position in shares of Weyerhaeuser during the fourth quarter worth about $549,531,000. Finally, Geode Capital Management LLC grew its position in shares of Weyerhaeuser by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 20,299,110 shares of the real estate investment trust’s stock worth $479,155,000 after acquiring an additional 225,227 shares during the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.

Weyerhaeuser Price Performance

Shares of NYSE WY opened at $23.74 on Friday. Weyerhaeuser Company has a fifty-two week low of $21.16 and a fifty-two week high of $27.75. The firm’s 50-day simple moving average is $24.30 and its 200 day simple moving average is $24.38. The company has a quick ratio of 1.15, a current ratio of 1.82 and a debt-to-equity ratio of 0.56. The stock has a market cap of $17.11 billion, a P/E ratio of 36.52, a P/E/G ratio of 1.26 and a beta of 0.89.

Weyerhaeuser (NYSE:WY) last announced its earnings results on Thursday, July 30th. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.05. The firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.85 billion. Weyerhaeuser had a net margin of 6.89% and a return on equity of 1.49%. Weyerhaeuser’s revenue was down 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.12 EPS. Equities analysts expect that Weyerhaeuser Company will post 0.32 EPS for the current year.

Weyerhaeuser Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, September 4th. Weyerhaeuser’s dividend payout ratio is currently 129.23%.

Wall Street Analysts Forecast Growth

WY has been the topic of several recent research reports. Citigroup cut their price objective on shares of Weyerhaeuser from $30.00 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday, August 4th. Truist Financial restated a “hold” rating and issued a $28.00 target price (up from $27.00) on shares of Weyerhaeuser in a research report on Monday, August 3rd. Royal Bank Of Canada restated an “outperform” rating and issued a $30.00 price target on shares of Weyerhaeuser in a research note on Friday, July 17th. DA Davidson reaffirmed a “buy” rating and set a $31.00 price target on shares of Weyerhaeuser in a report on Tuesday, June 30th. Finally, Wall Street Zen upgraded Weyerhaeuser from a “sell” rating to a “hold” rating in a research report on Sunday, August 2nd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $29.00.

About Weyerhaeuser

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.