Summit Asset Management LLC purchased a new stake in shares of Weyerhaeuser Co (NYSE:WY) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 7,266 shares of the real estate investment trust’s stock, valued at approximately $201,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP boosted its holdings in Weyerhaeuser by 85.7% during the third quarter. Allworth Financial LP now owns 925 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 427 shares during the period. NuWave Investment Management LLC bought a new stake in Weyerhaeuser during the second quarter valued at about $30,000. Rational Advisors LLC bought a new stake in shares of Weyerhaeuser in the second quarter valued at about $30,000. NEXT Financial Group Inc lifted its stake in shares of Weyerhaeuser by 197.3% in the second quarter. NEXT Financial Group Inc now owns 1,189 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 789 shares during the period. Finally, Creative Financial Designs Inc. ADV bought a new stake in shares of Weyerhaeuser in the third quarter valued at about $33,000. Institutional investors own 76.90% of the company’s stock.

Shares of NYSE WY traded down $0.40 during mid-day trading on Tuesday, hitting $29.14. The company had a trading volume of 2,596,712 shares, compared to its average volume of 4,299,442. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.55 and a quick ratio of 1.22. The business’s 50-day simple moving average is $28.31 and its 200-day simple moving average is $26.21. Weyerhaeuser Co has a 12 month low of $20.52 and a 12 month high of $30.28. The firm has a market cap of $22.08 billion, a P/E ratio of 24.69 and a beta of 1.66.

Weyerhaeuser (NYSE:WY) last released its earnings results on Friday, October 25th. The real estate investment trust reported $0.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.02). Weyerhaeuser had a negative net margin of 2.33% and a positive return on equity of 3.78%. The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the previous year, the business posted $0.28 EPS. The firm’s quarterly revenue was down 12.5% on a year-over-year basis. As a group, sell-side analysts predict that Weyerhaeuser Co will post 0.4 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 4.67%. The ex-dividend date is Thursday, December 5th. Weyerhaeuser’s dividend payout ratio (DPR) is presently 115.25%.

Several research firms recently weighed in on WY. Bank of America set a $31.00 target price on shares of Weyerhaeuser and gave the company a “hold” rating in a research note on Friday, October 25th. Scotiabank set a $28.50 target price on shares of Weyerhaeuser and gave the company a “hold” rating in a research note on Friday, October 25th. BMO Capital Markets set a $32.00 target price on shares of Weyerhaeuser and gave the company a “buy” rating in a research note on Tuesday, September 17th. Royal Bank of Canada reiterated a “buy” rating on shares of Weyerhaeuser in a research note on Tuesday, September 17th. Finally, ValuEngine upgraded shares of Weyerhaeuser from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. Weyerhaeuser currently has an average rating of “Buy” and an average price target of $30.93.

About Weyerhaeuser

Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control 12.2 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.

Read More: Diluted Earnings Per Share

Want to see what other hedge funds are holding WY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Weyerhaeuser Co (NYSE:WY).

Institutional Ownership by Quarter for Weyerhaeuser (NYSE:WY)

Receive News & Ratings for Weyerhaeuser Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Weyerhaeuser and related companies with MarketBeat.com's FREE daily email newsletter.