Raymond James Financial Inc. Invests $26.21 Million in Weyerhaeuser (NYSE:WY)

Raymond James Financial Inc. bought a new stake in shares of Weyerhaeuser (NYSE:WY) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 930,946 shares of the real estate investment trust’s stock, valued at approximately $26,206,000. Raymond James Financial Inc. owned approximately 0.13% of Weyerhaeuser at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in WY. Wellington Management Group LLP lifted its stake in shares of Weyerhaeuser by 12.7% during the third quarter. Wellington Management Group LLP now owns 35,755,865 shares of the real estate investment trust’s stock worth $1,210,694,000 after purchasing an additional 4,035,048 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Weyerhaeuser by 257.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,472,451 shares of the real estate investment trust’s stock valued at $151,437,000 after buying an additional 3,220,235 shares during the period. Daiwa Securities Group Inc. lifted its position in Weyerhaeuser by 2,664.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 2,195,958 shares of the real estate investment trust’s stock worth $74,355,000 after acquiring an additional 2,116,520 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Weyerhaeuser during the 3rd quarter worth approximately $40,773,000. Finally, State Street Corp boosted its holdings in Weyerhaeuser by 2.5% in the 3rd quarter. State Street Corp now owns 31,407,646 shares of the real estate investment trust’s stock worth $1,063,463,000 after acquiring an additional 761,757 shares during the period. 82.99% of the stock is owned by hedge funds and other institutional investors.

Weyerhaeuser Stock Up 2.0 %

NYSE:WY opened at $29.53 on Friday. The stock has a 50-day simple moving average of $29.83 and a 200 day simple moving average of $30.76. Weyerhaeuser has a one year low of $26.73 and a one year high of $36.27. The company has a market capitalization of $21.42 billion, a price-to-earnings ratio of 53.68, a price-to-earnings-growth ratio of 4.74 and a beta of 1.43. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.79.

Weyerhaeuser (NYSE:WY) last issued its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $0.11 earnings per share 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%. Sell-side analysts predict that Weyerhaeuser will post 0.78 EPS for the current fiscal year.

Weyerhaeuser Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.85%. This is a boost from Weyerhaeuser’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, March 7th. Weyerhaeuser’s dividend payout ratio is 152.73%.

Analyst Upgrades and Downgrades

WY has been the topic of a number of analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 price objective on shares of Weyerhaeuser in a research note on Monday, February 3rd. CIBC upgraded shares of Weyerhaeuser from a “neutral” rating to an “outperformer” rating and set a $35.00 price objective on the stock in a report on Wednesday, January 15th. Truist Financial lowered their target price on Weyerhaeuser from $34.00 to $33.00 and set a “hold” rating for the company in a research note on Monday, January 6th. Cibc World Mkts upgraded Weyerhaeuser from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Finally, Raymond James raised Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $32.00 price target for the company in a report on Monday, December 23rd. Three investment 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $35.00.

Weyerhaeuser 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.