Northeast Investment Management lowered its holdings in Weyerhaeuser Co (NYSE:WY) by 9.8% during the 3rd quarter, Holdings Channel reports. The firm owned 212,192 shares of the real estate investment trust’s stock after selling 23,104 shares during the quarter. Northeast Investment Management’s holdings in Weyerhaeuser were worth $6,847,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Citizens Financial Group Inc RI boosted its holdings in shares of Weyerhaeuser by 162.1% during the third quarter. Citizens Financial Group Inc RI now owns 3,292 shares of the real estate investment trust’s stock worth $106,000 after purchasing an additional 2,036 shares during the period. Truvestments Capital LLC acquired a new stake in shares of Weyerhaeuser during the third quarter worth approximately $113,000. Westbourne Investment Advisors Inc. acquired a new stake in shares of Weyerhaeuser during the third quarter worth approximately $129,000. Quad Cities Investment Group LLC acquired a new stake in shares of Weyerhaeuser during the second quarter worth approximately $136,000. Finally, Pinebridge Investments L.P. acquired a new stake in shares of Weyerhaeuser during the second quarter worth approximately $171,000. 76.48% of the stock is currently owned by institutional investors.
Several analysts recently commented on WY shares. Zacks Investment Research cut shares of Weyerhaeuser from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. ValuEngine cut shares of Weyerhaeuser from a “hold” rating to a “sell” rating in a report on Wednesday, October 3rd. Scotiabank restated a “hold” rating and set a $32.00 price target on shares of Weyerhaeuser in a report on Tuesday, November 13th. Argus decreased their price target on shares of Weyerhaeuser from $40.00 to $34.00 and set a “buy” rating for the company in a report on Tuesday, November 20th. Finally, BMO Capital Markets decreased their price target on shares of Weyerhaeuser from $36.00 to $33.00 and set a “market perform” rating for the company in a report on Tuesday, October 30th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. Weyerhaeuser currently has an average rating of “Hold” and an average price target of $34.57.
Weyerhaeuser (NYSE:WY) last announced its quarterly earnings results on Friday, October 26th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.11). The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.95 billion. Weyerhaeuser had a net margin of 14.51% and a return on equity of 11.65%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period last year, the firm earned $0.34 EPS. Analysts predict that Weyerhaeuser Co will post 1.23 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Stockholders of record on Friday, November 30th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $1.36 annualized dividend and a dividend yield of 5.17%. Weyerhaeuser’s dividend payout ratio is presently 118.26%.
In other news, insider Devin W. Stockfish bought 27,890 shares of Weyerhaeuser stock in a transaction dated Tuesday, November 13th. The shares were bought at an average price of $26.93 per share, for a total transaction of $751,077.70. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.35% of the stock is currently owned by insiders.
Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control 12.4 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.
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