Pinnacle Financial Partners Inc Sells 48,587 Shares of Weyerhaeuser (NYSE:WY)

Pinnacle Financial Partners Inc cut its stake in shares of Weyerhaeuser (NYSE:WY) by 12.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 340,724 shares of the real estate investment trust’s stock after selling 48,587 shares during the period. Pinnacle Financial Partners Inc’s holdings in Weyerhaeuser were worth $9,696,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Asset Planning Inc bought a new stake in shares of Weyerhaeuser during the 4th quarter worth $36,000. Meeder Asset Management Inc. raised its stake in shares of Weyerhaeuser by 172.4% during the 3rd quarter. Meeder Asset Management Inc. now owns 1,136 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 719 shares during the period. AdvisorNet Financial Inc raised its stake in shares of Weyerhaeuser by 41.2% during the 4th quarter. AdvisorNet Financial Inc now owns 1,665 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 486 shares during the period. Capital Performance Advisors LLP bought a new stake in shares of Weyerhaeuser during the 3rd quarter worth $50,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Weyerhaeuser during the 4th quarter worth $57,000. 82.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WY has been the topic of a number of recent analyst reports. Truist Financial lowered their target price on Weyerhaeuser from $34.00 to $33.00 and set a “hold” rating on the stock in a research note on Monday, January 6th. Cibc World Mkts upgraded Weyerhaeuser from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. CIBC upgraded Weyerhaeuser from a “neutral” rating to an “outperformer” rating and set a $35.00 price objective on the stock in a research note on Wednesday, January 15th. Royal Bank of Canada restated an “outperform” rating and issued a $36.00 price objective on shares of Weyerhaeuser in a research note on Monday, February 3rd. Finally, StockNews.com upgraded Weyerhaeuser from a “sell” rating to a “hold” rating in a research note on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $35.00.

Weyerhaeuser Trading Down 1.0 %

Shares of WY opened at $29.69 on Friday. The business’s 50-day moving average price is $29.26 and its 200-day moving average price is $30.81. Weyerhaeuser has a twelve month low of $26.73 and a twelve month high of $36.27. The stock has a market cap of $21.54 billion, a PE ratio of 53.97, a P/E/G ratio of 4.74 and a beta of 1.42. The company has a quick ratio of 1.17, a current ratio of 1.79 and a debt-to-equity ratio of 0.50.

Weyerhaeuser (NYSE:WY) last announced its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.04. Weyerhaeuser had a return on equity of 3.86% and a net margin of 5.56%. On average, equities analysts forecast that Weyerhaeuser will post 0.78 EPS for the current fiscal year.

Weyerhaeuser Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Weyerhaeuser’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 2.83%. Weyerhaeuser’s dividend payout ratio is currently 145.46%.

Weyerhaeuser Company 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.