Pacific Heights Asset Management LLC Purchases 150,000 Shares of Weyerhaeuser Company $WY

Pacific Heights Asset Management LLC increased its holdings in Weyerhaeuser Company (NYSE:WY) by 75.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 350,000 shares of the real estate investment trust’s stock after acquiring an additional 150,000 shares during the quarter. Pacific Heights Asset Management LLC’s holdings in Weyerhaeuser were worth $8,676,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in WY. Vanguard Group Inc. increased its stake in Weyerhaeuser by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 114,318,728 shares of the real estate investment trust’s stock worth $2,936,848,000 after acquiring an additional 542,912 shares during the last quarter. State Street Corp grew its holdings in shares of Weyerhaeuser by 0.9% during the second quarter. State Street Corp now owns 31,865,696 shares of the real estate investment trust’s stock worth $818,630,000 after purchasing an additional 271,832 shares in the last quarter. Norges Bank bought a new position in shares of Weyerhaeuser in the second quarter worth approximately $600,502,000. Geode Capital Management LLC raised its stake in Weyerhaeuser by 1.7% in the second quarter. Geode Capital Management LLC now owns 19,909,790 shares of the real estate investment trust’s stock valued at $509,460,000 after purchasing an additional 340,948 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Weyerhaeuser by 86.5% during the second quarter. Bank of New York Mellon Corp now owns 13,550,466 shares of the real estate investment trust’s stock valued at $348,111,000 after purchasing an additional 6,284,982 shares during the last quarter. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Sara Grootwassink Lewis acquired 4,500 shares of the stock in a transaction on Wednesday, December 17th. The stock was purchased at an average price of $23.61 per share, for a total transaction of $106,245.00. Following the completion of the transaction, the director owned 25,978 shares of the company’s stock, valued at $613,340.58. This trade represents a 20.95% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Devin W. Stockfish sold 90,162 shares of the stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $23.33, for a total value of $2,103,479.46. Following the sale, the chief executive officer directly owned 1,024,861 shares of the company’s stock, valued at approximately $23,910,007.13. This trade represents a 8.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.27% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on WY. DA Davidson decreased their price target on shares of Weyerhaeuser from $35.00 to $31.00 and set a “buy” rating on the stock in a report on Monday, November 3rd. UBS Group reiterated a “buy” rating on shares of Weyerhaeuser in a research report on Monday, December 15th. Truist Financial raised their price target on Weyerhaeuser from $27.00 to $28.00 and gave the company a “hold” rating in a research report on Tuesday, January 6th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Weyerhaeuser in a research note on Monday, December 29th. Finally, New Street Research set a $28.00 price objective on Weyerhaeuser in a research report on Friday, December 12th. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $28.50.

Weyerhaeuser Price Performance

Shares of NYSE:WY opened at $27.11 on Tuesday. The company has a quick ratio of 0.78, a current ratio of 1.23 and a debt-to-equity ratio of 0.52. The stock has a market cap of $19.54 billion, a PE ratio of 60.25, a PEG ratio of 107.32 and a beta of 1.04. The company’s fifty day moving average is $23.32 and its 200 day moving average is $24.39. Weyerhaeuser Company has a 52 week low of $21.16 and a 52 week high of $31.66.

Weyerhaeuser (NYSE:WY) last announced its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.13. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Weyerhaeuser had a return on equity of 3.04% and a net margin of 4.68%.The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period last year, the firm earned $0.05 earnings per share. Research analysts anticipate that Weyerhaeuser Company will post 0.78 earnings per share for the current year.

Weyerhaeuser Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Friday, November 28th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.1%. The ex-dividend date was Friday, November 28th. Weyerhaeuser’s dividend payout ratio (DPR) is presently 186.67%.

About Weyerhaeuser

Weyerhaeuser Company (NYSE: WY) is a leading integrated forest products company whose core businesses are timberland ownership and forest products manufacturing. The company owns and manages large tracts of timberland and harvests, processes and sells wood and wood-derived products used primarily in residential and industrial construction. Its manufacturing operations produce a range of building materials, including lumber, engineered wood products and wood panels, alongside fiber-based products that serve multiple commercial applications.

Founded in 1900 by Frederick Weyerhaeuser and headquartered in Seattle, Washington, the company has a long history in the North American forest products industry.