Everhart Financial Group Inc. Acquires New Shares in Weyerhaeuser (NYSE:WY)

Everhart Financial Group Inc. acquired a new stake in Weyerhaeuser (NYSE:WY) in the 1st quarter, Holdings Channel.com reports. The institutional investor acquired 8,901 shares of the real estate investment trust’s stock, valued at approximately $261,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in WY. South Plains Financial Inc. bought a new position in Weyerhaeuser in the fourth quarter worth about $25,000. Fourth Dimension Wealth LLC bought a new position in Weyerhaeuser in the fourth quarter worth about $27,000. Assetmark Inc. raised its holdings in Weyerhaeuser by 290.9% in the fourth quarter. Assetmark Inc. now owns 1,239 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 922 shares in the last quarter. Asset Planning Inc bought a new position in Weyerhaeuser in the fourth quarter worth about $36,000. Finally, TD Waterhouse Canada Inc. raised its holdings in Weyerhaeuser by 136.1% in the fourth quarter. TD Waterhouse Canada Inc. now owns 1,400 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 807 shares in the last quarter. 82.99% of the stock is currently owned by institutional investors.

Weyerhaeuser Price Performance

Shares of NYSE WY opened at $26.81 on Friday. The business’s 50 day moving average price is $26.00 and its 200 day moving average price is $28.32. The firm has a market cap of $19.44 billion, a P/E ratio of 48.74, a P/E/G ratio of 4.74 and a beta of 1.16. Weyerhaeuser has a 52 week low of $24.10 and a 52 week high of $34.03. The company has a quick ratio of 1.17, a current ratio of 1.79 and a debt-to-equity ratio of 0.50.

Weyerhaeuser (NYSE:WY) last issued its earnings results on Thursday, April 24th. The real estate investment trust reported $0.11 EPS for the quarter, meeting analysts’ consensus estimates of $0.11. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.80 billion. Weyerhaeuser had a return on equity of 3.86% and a net margin of 5.56%. Weyerhaeuser’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.16 earnings per share. On average, sell-side analysts expect that Weyerhaeuser will post 0.78 earnings per share for the current year.

Weyerhaeuser announced that its board has approved a stock buyback program on Thursday, May 8th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the real estate investment trust to reacquire up to 5.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Weyerhaeuser Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a $0.21 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.84 dividend on an annualized basis and a yield of 3.13%. Weyerhaeuser’s dividend payout ratio is currently 168.00%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on WY shares. The Goldman Sachs Group downgraded shares of Weyerhaeuser from a “strong-buy” rating to a “strong sell” rating in a report on Friday, May 23rd. Truist Financial cut their price objective on shares of Weyerhaeuser from $33.00 to $30.00 and set a “hold” rating on the stock in a report on Tuesday, April 22nd. CIBC cut their price objective on shares of Weyerhaeuser from $35.00 to $32.00 and set an “outperformer” rating on the stock in a report on Tuesday, April 22nd. JPMorgan Chase & Co. assumed coverage on shares of Weyerhaeuser in a report on Tuesday, April 8th. They set an “overweight” rating and a $31.00 price objective on the stock. Finally, Citigroup cut their price objective on shares of Weyerhaeuser from $35.00 to $31.00 and set a “buy” rating on the stock in a report on Tuesday, June 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Weyerhaeuser currently has a consensus rating of “Moderate Buy” and an average target price of $33.25.

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.