Renaissance Technologies LLC acquired a new position in Weyerhaeuser (NYSE:WY) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 122,981 shares of the real estate investment trust’s stock, valued at approximately $4,336,000.
A number of other hedge funds have also recently modified their holdings of WY. Exane Derivatives boosted its stake in Weyerhaeuser by 94,833.3% in the fourth quarter. Exane Derivatives now owns 2,848 shares of the real estate investment trust’s stock valued at $100,000 after acquiring an additional 2,845 shares during the last quarter. Barrett Asset Management LLC boosted its stake in Weyerhaeuser by 102.2% in the fourth quarter. Barrett Asset Management LLC now owns 3,134 shares of the real estate investment trust’s stock valued at $111,000 after acquiring an additional 1,584 shares during the last quarter. Cornerstone Advisors Inc. boosted its stake in Weyerhaeuser by 324.7% in the fourth quarter. Cornerstone Advisors Inc. now owns 4,565 shares of the real estate investment trust’s stock valued at $161,000 after acquiring an additional 3,490 shares during the last quarter. Truewealth LLC purchased a new position in Weyerhaeuser in the fourth quarter valued at about $185,000. Finally, Sky Investment Group LLC purchased a new position in Weyerhaeuser in the fourth quarter valued at about $207,000. 75.96% of the stock is owned by institutional investors and hedge funds.
In related news, VP Jeanne M. Hillman sold 15,389 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $35.22, for a total transaction of $542,000.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.35% of the company’s stock.
Weyerhaeuser (NYSE:WY) last announced its quarterly earnings results on Friday, February 2nd. The real estate investment trust reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.04). The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.89 billion. Weyerhaeuser had a net margin of 8.09% and a return on equity of 9.62%. The business’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 earnings per share. research analysts forecast that Weyerhaeuser will post 1.36 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 23rd. Investors of record on Friday, March 2nd were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend was Thursday, March 1st. Weyerhaeuser’s payout ratio is currently 111.30%.
A number of research firms have weighed in on WY. Zacks Investment Research upgraded shares of Weyerhaeuser from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research note on Tuesday. Bank of America upgraded shares of Weyerhaeuser from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 24th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $37.67.
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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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