California Public Employees Retirement System Sells 83,845 Shares of Weyerhaeuser (NYSE:WY)

California Public Employees Retirement System trimmed its position in Weyerhaeuser (NYSE:WY) by 6.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,284,814 shares of the real estate investment trust’s stock after selling 83,845 shares during the period. California Public Employees Retirement System owned 0.18% of Weyerhaeuser worth $36,168,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership boosted its stake in Weyerhaeuser by 33.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,851,882 shares of the real estate investment trust’s stock valued at $52,130,000 after buying an additional 460,729 shares during the period. Allianz SE purchased a new stake in shares of Weyerhaeuser in the 4th quarter valued at about $380,000. Allstate Corp bought a new stake in shares of Weyerhaeuser during the 4th quarter valued at about $611,000. Pictet Asset Management Holding SA grew its holdings in shares of Weyerhaeuser by 4.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 5,057,445 shares of the real estate investment trust’s stock worth $142,367,000 after purchasing an additional 201,614 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in shares of Weyerhaeuser by 0.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 222,631 shares of the real estate investment trust’s stock worth $6,267,000 after purchasing an additional 631 shares during the last quarter. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

Weyerhaeuser Price Performance

Shares of Weyerhaeuser stock opened at $29.54 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.79 and a quick ratio of 1.17. Weyerhaeuser has a one year low of $26.73 and a one year high of $35.30. The business’s 50 day simple moving average is $29.97 and its two-hundred day simple moving average is $30.66. The stock has a market capitalization of $21.44 billion, a P/E ratio of 53.71, a price-to-earnings-growth ratio of 4.74 and a beta of 1.43.

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

Weyerhaeuser Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.84 annualized dividend and a dividend yield of 2.84%. This is a boost from Weyerhaeuser’s previous quarterly dividend of $0.20. Weyerhaeuser’s payout ratio is currently 152.73%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Truist Financial dropped their target price on shares of Weyerhaeuser from $34.00 to $33.00 and set a “hold” rating for the company in a research report on Monday, January 6th. Raymond James upgraded shares of Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $32.00 target price for the company in a research report on Monday, December 23rd. Royal Bank of Canada restated an “outperform” rating and set a $36.00 price target on shares of Weyerhaeuser in a research report on Monday, February 3rd. Citigroup cut their price objective on Weyerhaeuser from $38.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. Finally, Cibc World Mkts raised Weyerhaeuser from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $35.00.

Weyerhaeuser Company 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.