Franklin Resources Inc. Has $23.78 Million Stock Holdings in Weyerhaeuser (NYSE:WY)

Franklin Resources Inc. increased its position in shares of Weyerhaeuser (NYSE:WY) by 10.2% during the 3rd quarter, Holdings Channel reports. The fund owned 729,570 shares of the real estate investment trust’s stock after buying an additional 67,314 shares during the quarter. Franklin Resources Inc.’s holdings in Weyerhaeuser were worth $23,777,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP raised its holdings in Weyerhaeuser by 12.7% in the third 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 during the period. State Street Corp increased its position in shares of Weyerhaeuser by 2.5% in the 3rd quarter. State Street Corp now owns 31,407,646 shares of the real estate investment trust’s stock valued at $1,063,463,000 after buying an additional 761,757 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Weyerhaeuser by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 19,534,058 shares of the real estate investment trust’s stock valued at $659,422,000 after buying an additional 217,510 shares in the last quarter. Legal & General Group Plc raised its stake in Weyerhaeuser by 4.6% during the 2nd quarter. Legal & General Group Plc now owns 11,428,336 shares of the real estate investment trust’s stock worth $324,450,000 after buying an additional 503,059 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Weyerhaeuser by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,740,119 shares of the real estate investment trust’s stock worth $295,940,000 after acquiring an additional 454,095 shares in the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.

Wall Street Analyst Weigh In

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

Weyerhaeuser Stock Performance

Shares of Weyerhaeuser stock opened at $27.21 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.01 and a quick ratio of 1.41. The firm has a market cap of $19.77 billion, a price-to-earnings ratio of 36.77 and a beta of 1.40. The stock’s 50-day moving average is $31.37 and its 200-day moving average is $30.82. 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, October 24th. The real estate investment trust reported $0.05 EPS for the quarter, beating the consensus estimate of $0.02 by $0.03. Weyerhaeuser had a return on equity of 4.21% and a net margin of 7.43%. 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 business posted $0.33 EPS. The business’s quarterly revenue was down 13.3% compared to the same quarter last year. Equities analysts predict that Weyerhaeuser will post 0.46 earnings per share for the current fiscal year.

Weyerhaeuser Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date was Friday, November 29th. Weyerhaeuser’s dividend payout ratio is presently 108.11%.

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.