Weyerhaeuser (NYSE:WY) Position Cut by Corebridge Financial Inc.

Corebridge Financial Inc. lowered its position in shares of Weyerhaeuser (NYSE:WY) by 4.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 172,058 shares of the real estate investment trust’s stock after selling 8,539 shares during the period. Corebridge Financial Inc.’s holdings in Weyerhaeuser were worth $4,843,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of WY. Truist Financial Corp grew its position in Weyerhaeuser by 2.8% in the 4th quarter. Truist Financial Corp now owns 50,889 shares of the real estate investment trust’s stock worth $1,433,000 after purchasing an additional 1,373 shares during the last quarter. Oak Thistle LLC bought a new position in Weyerhaeuser in the 4th quarter worth approximately $1,214,000. Sonora Investment Management Group LLC increased its position in Weyerhaeuser by 56.5% in the 4th quarter. Sonora Investment Management Group LLC now owns 51,785 shares of the real estate investment trust’s stock valued at $1,458,000 after acquiring an additional 18,698 shares during the period. Czech National Bank raised its stake in Weyerhaeuser by 6.3% during the 4th quarter. Czech National Bank now owns 157,538 shares of the real estate investment trust’s stock valued at $4,435,000 after acquiring an additional 9,377 shares in the last quarter. Finally, Inspire Trust Co. N.A. boosted its position in Weyerhaeuser by 148.2% during the 3rd quarter. Inspire Trust Co. N.A. now owns 125,620 shares of the real estate investment trust’s stock worth $4,253,000 after acquiring an additional 75,000 shares during the period. Institutional investors and hedge funds own 82.99% of the company’s stock.

Weyerhaeuser Stock Down 0.7 %

Shares of Weyerhaeuser stock opened at $29.38 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. Weyerhaeuser has a 12-month low of $26.73 and a 12-month high of $36.10. The firm has a market capitalization of $21.32 billion, a PE ratio of 53.41, a price-to-earnings-growth ratio of 4.74 and a beta of 1.43. The stock’s fifty day moving average is $30.02 and its 200-day moving average is $30.71.

Weyerhaeuser (NYSE:WY) last posted its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.04. Weyerhaeuser had a net margin of 5.56% and a return on equity of 3.86%. Equities analysts anticipate that Weyerhaeuser will post 0.78 earnings per share for the current year.

Weyerhaeuser Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were paid a $0.21 dividend. This is a positive change from Weyerhaeuser’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.84 dividend on an annualized basis and a yield of 2.86%. Weyerhaeuser’s dividend payout ratio (DPR) is currently 152.73%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Royal Bank of Canada reissued an “outperform” rating and set a $36.00 price target on shares of Weyerhaeuser in a report on Monday, February 3rd. Citigroup reduced their price target on shares of Weyerhaeuser from $38.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. Raymond James upgraded shares of Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $32.00 price objective on the stock in a research note on Monday, December 23rd. StockNews.com upgraded Weyerhaeuser from a “sell” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, Cibc World Mkts upgraded Weyerhaeuser from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Weyerhaeuser presently has a consensus rating of “Moderate Buy” and an average target price of $35.00.

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.