Allstate Corp Purchases Shares of 21,691 Weyerhaeuser (NYSE:WY)

Allstate Corp purchased a new stake in Weyerhaeuser (NYSE:WY) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 21,691 shares of the real estate investment trust’s stock, valued at approximately $611,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of WY. Norges Bank purchased a new position in Weyerhaeuser in the fourth quarter worth $638,470,000. Wellington Management Group LLP increased its position in Weyerhaeuser by 12.7% during the 3rd quarter. Wellington Management Group LLP now owns 35,755,865 shares of the real estate investment trust’s stock valued at $1,210,694,000 after buying an additional 4,035,048 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in Weyerhaeuser by 122.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 4,881,592 shares of the real estate investment trust’s stock valued at $137,417,000 after buying an additional 2,685,634 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Weyerhaeuser in the third quarter worth about $40,773,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Weyerhaeuser during the fourth quarter worth about $26,206,000. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Analyst Upgrades and Downgrades

WY has been the subject of a number of recent analyst reports. Citigroup lowered their target price on shares of Weyerhaeuser from $38.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. CIBC raised Weyerhaeuser from a “neutral” rating to an “outperformer” rating and set a $35.00 target price on the stock in a research report on Wednesday, January 15th. BMO Capital Markets upgraded Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $38.00 target price for the company in a research note on Friday, December 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 price target on shares of Weyerhaeuser in a research note on Monday, February 3rd. Finally, Truist Financial reduced their price target 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. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Weyerhaeuser has an average rating of “Moderate Buy” and an average target price of $35.00.

Weyerhaeuser Price Performance

Shares of NYSE WY opened at $29.11 on Wednesday. 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 stock has a market capitalization of $21.13 billion, a price-to-earnings ratio of 52.92, a PEG ratio of 4.74 and a beta of 1.43. The firm’s 50 day simple moving average is $29.97 and its 200-day simple moving average is $30.67. Weyerhaeuser has a 12 month low of $26.73 and a 12 month high of $35.50.

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

Weyerhaeuser Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend was Friday, March 7th. This is a positive change from Weyerhaeuser’s previous quarterly dividend of $0.20. Weyerhaeuser’s payout ratio is currently 152.73%.

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.