Westpac Banking Corp Raises Holdings in Weyerhaeuser (NYSE:WY)

Westpac Banking Corp increased its position in Weyerhaeuser (NYSE:WY) by 2.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 126,982 shares of the real estate investment trust’s stock after buying an additional 2,572 shares during the period. Westpac Banking Corp’s holdings in Weyerhaeuser were worth $3,575,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WY. Townsquare Capital LLC bought a new position in Weyerhaeuser during the third quarter valued at $297,000. Rockefeller Capital Management L.P. raised its position in shares of Weyerhaeuser by 13.6% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 84,245 shares of the real estate investment trust’s stock valued at $2,853,000 after buying an additional 10,095 shares in the last quarter. Erste Asset Management GmbH bought a new position in shares of Weyerhaeuser in the 3rd quarter valued at about $1,282,000. Integrated Wealth Concepts LLC grew its position in Weyerhaeuser by 2.5% in the third quarter. Integrated Wealth Concepts LLC now owns 15,291 shares of the real estate investment trust’s stock worth $518,000 after acquiring an additional 367 shares in the last quarter. Finally, IHT Wealth Management LLC bought a new stake in Weyerhaeuser during the third quarter worth approximately $407,000. 82.99% of the stock is owned by institutional investors.

Weyerhaeuser Trading Up 1.4 %

Shares of WY 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. The firm has a market capitalization of $21.44 billion, a price-to-earnings ratio of 53.71, a PEG ratio of 4.74 and a beta of 1.43. The company has a 50-day moving average of $29.97 and a 200 day moving average of $30.66. Weyerhaeuser has a 1-year low of $26.73 and a 1-year high of $35.30.

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%. On average, research analysts expect that Weyerhaeuser will post 0.78 EPS for the current year.

Weyerhaeuser Increases Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on WY shares. Raymond James raised Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $32.00 price objective for the company in a research note on Monday, December 23rd. CIBC upgraded Weyerhaeuser from a “neutral” rating to an “outperformer” rating and set a $35.00 price target for the company in a research report on Wednesday, January 15th. BMO Capital Markets upgraded shares of Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $38.00 price objective on the stock in a research report on Friday, December 6th. Truist Financial lowered their target price on shares of Weyerhaeuser from $34.00 to $33.00 and set a “hold” rating for the company in a report on Monday, January 6th. Finally, Citigroup cut their price target on shares of Weyerhaeuser from $38.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, January 15th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.