California State Teachers Retirement System lowered its holdings in Weyerhaeuser Company (NYSE:WY) by 7.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,413,983 shares of the real estate investment trust’s stock after selling 108,396 shares during the period. California State Teachers Retirement System owned about 0.19% of Weyerhaeuser worth $47,369,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Barnett & Company Inc. acquired a new stake in Weyerhaeuser during the second quarter valued at approximately $101,000. Dupont Capital Management Corp acquired a new stake in shares of Weyerhaeuser during the 2nd quarter worth approximately $109,000. Alexandria Capital LLC raised its position in shares of Weyerhaeuser by 0.3% during the 2nd quarter. Alexandria Capital LLC now owns 3,486 shares of the real estate investment trust’s stock worth $117,000 after purchasing an additional 12 shares during the period. Gemmer Asset Management LLC raised its position in shares of Weyerhaeuser by 0.5% during the 2nd quarter. Gemmer Asset Management LLC now owns 4,146 shares of the real estate investment trust’s stock worth $139,000 after purchasing an additional 20 shares during the period. Finally, First Command Bank raised its position in shares of Weyerhaeuser by 73.1% during the 2nd quarter. First Command Bank now owns 4,178 shares of the real estate investment trust’s stock worth $140,000 after purchasing an additional 1,765 shares during the period. 75.24% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently weighed in on the company. JMP Securities cut Weyerhaeuser from an “outperform” rating to a “market perform” rating and set a $36.00 price target on the stock. in a research report on Monday, August 14th. TheStreet cut Weyerhaeuser from a “b-” rating to a “c+” rating in a research report on Friday, August 18th. BMO Capital Markets cut Weyerhaeuser from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 22nd. BidaskClub cut Weyerhaeuser from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. Finally, Zacks Investment Research cut Weyerhaeuser from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $37.25.
Weyerhaeuser (NYSE:WY) last posted its earnings results on Friday, July 28th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Weyerhaeuser had a net margin of 14.09% and a return on equity of 7.17%. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter in the previous year, the company posted $0.17 earnings per share. Weyerhaeuser’s quarterly revenue was up 9.2% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Friday, September 8th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend was Thursday, September 7th. Weyerhaeuser’s dividend payout ratio (DPR) is currently 97.64%.
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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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