Peapack Gladstone Financial Corp Purchases New Shares in Weyerhaeuser (NYSE:WY)

Peapack Gladstone Financial Corp acquired a new position in shares of Weyerhaeuser (NYSE:WY) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 7,680 shares of the real estate investment trust’s stock, valued at approximately $260,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP grew its position in shares of Weyerhaeuser by 12.7% during the 3rd quarter. Wellington Management Group LLP now owns 35,755,865 shares of the real estate investment trust’s stock worth $1,210,694,000 after purchasing an additional 4,035,048 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Weyerhaeuser by 257.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,472,451 shares of the real estate investment trust’s stock worth $151,437,000 after buying an additional 3,220,235 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in Weyerhaeuser by 2,664.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 2,195,958 shares of the real estate investment trust’s stock worth $74,355,000 after acquiring an additional 2,116,520 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Weyerhaeuser by 30.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,603,246 shares of the real estate investment trust’s stock valued at $291,306,000 after acquiring an additional 2,004,073 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of Weyerhaeuser by 512.3% during the 2nd quarter. Millennium Management LLC now owns 1,563,454 shares of the real estate investment trust’s stock valued at $44,386,000 after acquiring an additional 1,308,125 shares during the period. Institutional investors and hedge funds own 82.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on WY. BMO Capital Markets upgraded Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $38.00 price target on the stock in a research report on Friday, December 6th. Truist Financial boosted their target price on shares of Weyerhaeuser from $31.00 to $34.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. Finally, StockNews.com upgraded shares of Weyerhaeuser from a “sell” rating to a “hold” rating in a research report on Monday. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Weyerhaeuser presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.33.

Weyerhaeuser Trading Down 1.4 %

WY opened at $29.65 on Tuesday. The company’s 50 day moving average is $31.66 and its 200-day moving average is $30.87. The company has a market cap of $21.54 billion, a P/E ratio of 40.07 and a beta of 1.40. Weyerhaeuser has a 1-year low of $26.73 and a 1-year high of $36.27. The company has a current ratio of 2.01, a quick ratio of 1.41 and a debt-to-equity ratio of 0.49.

Weyerhaeuser (NYSE:WY) last posted its earnings results on Thursday, October 24th. The real estate investment trust reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. Weyerhaeuser had a net margin of 7.43% and a return on equity of 4.21%. The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter in the previous year, the firm posted $0.33 earnings per share. The company’s revenue was down 13.3% on a year-over-year basis. Equities research analysts predict that Weyerhaeuser will post 0.46 earnings per share for the current fiscal year.

Weyerhaeuser Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were given a $0.20 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.80 annualized dividend and a yield of 2.70%. Weyerhaeuser’s dividend payout ratio is presently 108.11%.

Weyerhaeuser Profile

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.