Weyerhaeuser Company (WY) Shares Sold by Bank of Nova Scotia
Bank of Nova Scotia lessened its stake in Weyerhaeuser Company (NYSE:WY) by 82.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 169,562 shares of the real estate investment trust’s stock after selling 801,687 shares during the period. Bank of Nova Scotia’s holdings in Weyerhaeuser were worth $5,680,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barnett & Company Inc. bought a new stake in shares of Weyerhaeuser in the 2nd quarter valued at about $101,000. Dupont Capital Management Corp bought a new stake in shares of Weyerhaeuser in the 2nd quarter valued at about $109,000. Alexandria Capital LLC lifted its stake in shares of Weyerhaeuser by 0.3% in the 2nd quarter. Alexandria Capital LLC now owns 3,486 shares of the real estate investment trust’s stock valued at $117,000 after acquiring an additional 12 shares during the last quarter. Gemmer Asset Management LLC lifted its stake in shares of Weyerhaeuser by 0.5% in the 2nd quarter. Gemmer Asset Management LLC now owns 4,146 shares of the real estate investment trust’s stock valued at $139,000 after acquiring an additional 20 shares during the last quarter. Finally, Chicago Partners Investment Group LLC lifted its stake in shares of Weyerhaeuser by 137.1% in the 1st quarter. Chicago Partners Investment Group LLC now owns 4,151 shares of the real estate investment trust’s stock valued at $141,000 after acquiring an additional 2,400 shares during the last quarter. 75.23% of the stock is owned by institutional investors.
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WY has been the subject of a number of recent research reports. BMO Capital Markets lowered Weyerhaeuser from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $28.58 to $36.00 in a research note on Monday, August 14th. BidaskClub lowered Weyerhaeuser from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. Zacks Investment Research lowered Weyerhaeuser from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Goldman Sachs Group, Inc. (The) lowered Weyerhaeuser from a “conviction-buy” rating to a “buy” rating and set a $38.00 price target for the company. in a research report on Monday, July 31st. Finally, JMP Securities lowered Weyerhaeuser from an “outperform” rating to a “market perform” rating and set a $36.00 price target for the company. in a research report on Monday, August 14th. One analyst has rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $37.25.
Weyerhaeuser Company (WY) opened at 34.90 on Monday. The company has a market cap of $26.28 billion, a price-to-earnings ratio of 27.44 and a beta of 1.39. Weyerhaeuser Company has a 52-week low of $28.58 and a 52-week high of $35.50. The firm’s 50-day moving average price is $33.45 and its 200-day moving average price is $33.34.
Weyerhaeuser (NYSE:WY) last announced its quarterly earnings data on Friday, July 28th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.01. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.81 billion. Weyerhaeuser had a net margin of 14.09% and a return on equity of 7.17%. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.17 earnings per share. On average, equities analysts anticipate that Weyerhaeuser Company will post $1.06 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Friday, September 8th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.55%. The ex-dividend date was Thursday, September 7th. Weyerhaeuser’s payout ratio is currently 97.64%.
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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