BTR Capital Management Inc. Lowers Position in Weyerhaeuser Co. (WY)
BTR Capital Management Inc. reduced its stake in shares of Weyerhaeuser Co. (NYSE:WY) by 0.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 215,225 shares of the real estate investment trust’s stock after selling 1,900 shares during the period. Weyerhaeuser accounts for 1.5% of BTR Capital Management Inc.’s portfolio, making the stock its 29th largest position. BTR Capital Management Inc.’s holdings in Weyerhaeuser were worth $6,874,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Perkins Coie Trust Co increased its stake in Weyerhaeuser by 2.7% in the second quarter. Perkins Coie Trust Co now owns 3,781 shares of the real estate investment trust’s stock valued at $113,000 after buying an additional 100 shares during the period. Alexandria Capital LLC increased its stake in Weyerhaeuser by 0.3% in the second quarter. Alexandria Capital LLC now owns 3,919 shares of the real estate investment trust’s stock valued at $117,000 after buying an additional 12 shares during the period. Integrated Investment Consultants LLC increased its stake in Weyerhaeuser by 71.3% in the second quarter. Integrated Investment Consultants LLC now owns 5,480 shares of the real estate investment trust’s stock valued at $163,000 after buying an additional 2,280 shares during the period. M&R Capital Management Inc. bought a new stake in Weyerhaeuser during the second quarter valued at $164,000. Finally, Iowa State Bank bought a new stake in Weyerhaeuser during the second quarter valued at $166,000. Hedge funds and other institutional investors own 76.00% of the company’s stock.
Shares of Weyerhaeuser Co. (NYSE:WY) traded down 0.38% during midday trading on Tuesday, reaching $31.10. 2,703,133 shares of the company were exchanged. Weyerhaeuser Co. has a 52-week low of $22.06 and a 52-week high of $33.17. The stock’s 50-day moving average price is $30.53 and its 200-day moving average price is $30.93. The company has a market capitalization of $23.26 billion, a PE ratio of 40.39 and a beta of 1.39.
Weyerhaeuser (NYSE:WY) last posted its quarterly earnings results on Friday, October 28th. The real estate investment trust reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.08. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.71 billion. Weyerhaeuser had a net margin of 7.88% and a return on equity of 7.05%. Weyerhaeuser’s revenue was up 26.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.35 earnings per share. Analysts anticipate that Weyerhaeuser Co. will post $1.03 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, November 18th. Shareholders of record on Friday, October 28th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date was Wednesday, October 26th. Weyerhaeuser’s dividend payout ratio is currently 169.86%.
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WY has been the subject of several research reports. Citigroup Inc. boosted their price target on shares of Weyerhaeuser from $36.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, August 8th. Goldman Sachs Group Inc. initiated coverage on shares of Weyerhaeuser in a research note on Thursday, September 22nd. They issued a “buy” rating and a $37.00 price target for the company. Argus restated a “buy” rating and issued a $35.00 price target on shares of Weyerhaeuser in a research note on Tuesday, September 20th. BMO Capital Markets restated a “buy” rating and issued a $36.00 price target on shares of Weyerhaeuser in a research note on Thursday, November 10th. Finally, Zacks Investment Research downgraded shares of Weyerhaeuser from a “buy” rating to a “hold” rating in a research note on Tuesday, November 1st. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $35.50.
In other news, SVP Denise M. Merle sold 15,049 shares of the firm’s stock in a transaction on Monday, October 10th. The shares were sold at an average price of $31.12, for a total value of $468,324.88. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.30% of the company’s stock.
Weyerhaeuser Company is a real estate investment trust (REIT). The Company is an owner of timberlands. It is principally engaged in growing and harvesting timber, as well as manufacturing, distributing and selling products made from trees. Its segments include Timberlands, Wood Products and Cellulose Fibers.
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