Anchor Investment Management LLC Lowers Stock Position in Weyerhaeuser (NYSE:WY)

Anchor Investment Management LLC reduced its stake in Weyerhaeuser (NYSE:WY) by 4.3% during the third quarter, HoldingsChannel reports. The firm owned 26,655 shares of the real estate investment trust’s stock after selling 1,195 shares during the period. Anchor Investment Management LLC’s holdings in Weyerhaeuser were worth $903,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Oakworth Capital Inc. purchased a new position in Weyerhaeuser during the third quarter valued at $25,000. Ridgewood Investments LLC bought a new stake in Weyerhaeuser in the 2nd quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Weyerhaeuser by 4,884.2% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 947 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 928 shares during the period. Itau Unibanco Holding S.A. bought a new position in shares of Weyerhaeuser during the 2nd quarter valued at approximately $27,000. Finally, Bangor Savings Bank grew its stake in shares of Weyerhaeuser by 140.3% during the 3rd quarter. Bangor Savings Bank now owns 1,115 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 651 shares during the period. 82.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WY has been the topic of several recent research reports. BMO Capital Markets raised Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $38.00 price objective on the stock in a report on Friday, December 6th. StockNews.com lowered Weyerhaeuser from a “hold” rating to a “sell” rating in a report on Monday, October 28th. Finally, Truist Financial increased their price target on Weyerhaeuser from $31.00 to $34.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $36.33.

Weyerhaeuser Stock Down 1.6 %

Weyerhaeuser stock opened at $30.40 on Friday. Weyerhaeuser has a fifty-two week low of $26.73 and a fifty-two week high of $36.27. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.41 and a current ratio of 2.01. The company has a market capitalization of $22.09 billion, a P/E ratio of 41.08 and a beta of 1.40. The stock has a 50-day simple moving average of $31.83 and a 200-day simple moving average of $30.85.

Weyerhaeuser (NYSE:WY) last posted its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.05 EPS for the quarter, beating the consensus estimate of $0.02 by $0.03. The business had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Weyerhaeuser had a return on equity of 4.21% and a net margin of 7.43%. The company’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same period last year, the firm earned $0.33 EPS. Equities research analysts expect that Weyerhaeuser will post 0.46 earnings per share for the current year.

Weyerhaeuser Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date is Friday, November 29th. Weyerhaeuser’s payout ratio is currently 108.11%.

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.