California Public Employees Retirement System trimmed its position in Weyerhaeuser Company (NYSE:WY) by 0.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,867,427 shares of the real estate investment trust’s stock after selling 14,313 shares during the quarter. California Public Employees Retirement System owned approximately 0.25% of Weyerhaeuser worth $63,549,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Barnett & Company Inc. purchased a new position in shares of Weyerhaeuser in the 2nd quarter valued at $101,000. Dupont Capital Management Corp purchased a new position in shares of Weyerhaeuser in the 2nd quarter valued at $109,000. Kistler Tiffany Companies LLC grew its position in shares of Weyerhaeuser by 0.4% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 4,674 shares of the real estate investment trust’s stock valued at $157,000 after buying an additional 19 shares during the last quarter. Solaris Asset Management LLC grew its position in shares of Weyerhaeuser by 1.3% in the 2nd quarter. Solaris Asset Management LLC now owns 5,145 shares of the real estate investment trust’s stock valued at $172,000 after buying an additional 65 shares during the last quarter. Finally, Boston Private Wealth LLC purchased a new position in shares of Weyerhaeuser in the 3rd quarter valued at $206,000. Institutional investors and hedge funds own 74.80% of the company’s stock.
A number of research analysts recently commented on the stock. Stephens assumed coverage on shares of Weyerhaeuser in a research report on Tuesday, October 24th. They issued an “equal weight” rating and a $35.00 target price on the stock. TheStreet downgraded shares of Weyerhaeuser from a “b-” rating to a “c+” rating in a research report on Friday, August 18th. Royal Bank of Canada reissued a “buy” rating and set a $40.00 price objective on shares of Weyerhaeuser in a research report on Monday, September 4th. Argus raised their price objective on shares of Weyerhaeuser from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Finally, BMO Capital Markets downgraded shares of Weyerhaeuser from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $37.20.
Weyerhaeuser (NYSE:WY) last issued its quarterly earnings data on Friday, October 27th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.03. Weyerhaeuser had a net margin of 12.37% and a return on equity of 8.15%. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period last year, the firm posted $0.30 EPS. Weyerhaeuser’s revenue for the quarter was up 9.5% on a year-over-year basis. sell-side analysts anticipate that Weyerhaeuser Company will post 1.17 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a dividend of $0.32 per share. This is an increase from Weyerhaeuser’s previous quarterly dividend of $0.31. This represents a $1.28 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend is Thursday, November 30th. Weyerhaeuser’s dividend payout ratio (DPR) is presently 261.22%.
In other news, insider Rhonda D. Hunter sold 23,343 shares of Weyerhaeuser stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $36.12, for a total value of $843,149.16. Following the sale, the insider now owns 98,973 shares of the company’s stock, valued at $3,574,904.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Rick R. Holley sold 227,341 shares of Weyerhaeuser stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $35.05, for a total transaction of $7,968,302.05. The disclosure for this sale can be found here. In the last ninety days, insiders sold 296,623 shares of company stock worth $10,452,392. Insiders own 1.20% of the company’s stock.
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Weyerhaeuser Company is a timber, land and forest products company. As of December 31, 2016, the Company owned or controlled 13.1 million acres of timberlands, primarily in the United States, and manages additional timberlands under long-term licenses in Canada. The Company’s segments include Timberlands; Real Estate, Energy and Natural Resources (Real Estate & ENR), and Wood Products.
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