PNC Financial Services Group Inc. Reduces Position in Weyerhaeuser (NYSE:WY)

PNC Financial Services Group Inc. decreased its position in Weyerhaeuser (NYSE:WY) by 5.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 143,623 shares of the real estate investment trust’s stock after selling 8,692 shares during the period. PNC Financial Services Group Inc.’s holdings in Weyerhaeuser were worth $4,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fiduciary Trust Co increased its stake in shares of Weyerhaeuser by 0.6% in the third quarter. Fiduciary Trust Co now owns 53,185 shares of the real estate investment trust’s stock worth $1,801,000 after acquiring an additional 331 shares during the period. HB Wealth Management LLC raised its holdings in shares of Weyerhaeuser by 2.4% during the fourth quarter. HB Wealth Management LLC now owns 15,041 shares of the real estate investment trust’s stock worth $423,000 after purchasing an additional 357 shares during the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of Weyerhaeuser by 2.5% during the third quarter. Integrated Wealth Concepts LLC now owns 15,291 shares of the real estate investment trust’s stock worth $518,000 after purchasing an additional 367 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Weyerhaeuser by 3.7% during the 4th quarter. GAMMA Investing LLC now owns 12,715 shares of the real estate investment trust’s stock valued at $358,000 after buying an additional 448 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of Weyerhaeuser by 9.9% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 4,976 shares of the real estate investment trust’s stock valued at $140,000 after buying an additional 448 shares during the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.

Weyerhaeuser Price Performance

Shares of NYSE WY opened at $28.88 on Friday. The firm has a market cap of $20.96 billion, a PE ratio of 52.52, a PEG ratio of 4.74 and a beta of 1.43. The firm has a fifty day moving average of $29.80 and a 200 day moving average of $30.77. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.79. Weyerhaeuser has a one year low of $26.73 and a one year high of $36.27.

Weyerhaeuser (NYSE:WY) last released its earnings results on Thursday, January 30th. The real estate investment trust reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04. Weyerhaeuser had a net margin of 5.56% and a return on equity of 3.86%. As a group, research analysts predict that Weyerhaeuser will post 0.78 EPS for the current fiscal year.

Weyerhaeuser Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.91%. This is a boost from Weyerhaeuser’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, March 7th. Weyerhaeuser’s payout ratio is presently 152.73%.

Analyst Ratings Changes

WY has been the subject of a number of recent research reports. Citigroup reduced their price objective on Weyerhaeuser from $38.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. CIBC raised shares of Weyerhaeuser from a “neutral” rating to an “outperformer” rating and set a $35.00 target price for the company in a report on Wednesday, January 15th. Raymond James raised shares of Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $32.00 target price for the company in a report on Monday, December 23rd. Truist Financial cut their target price on shares of Weyerhaeuser from $34.00 to $33.00 and set a “hold” rating for the company in a report on Monday, January 6th. Finally, BMO Capital Markets raised shares of Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $38.00 price objective for the company in a report on Friday, December 6th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $35.00.

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.