Synovus Financial Corp Increases Stake in Weyerhaeuser (NYSE:WY)

Synovus Financial Corp increased its position in shares of Weyerhaeuser (NYSE:WY) by 23.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,149 shares of the real estate investment trust’s stock after purchasing an additional 5,921 shares during the period. Synovus Financial Corp’s holdings in Weyerhaeuser were worth $1,055,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in WY. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Weyerhaeuser by 0.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 61,791 shares of the real estate investment trust’s stock worth $1,754,000 after purchasing an additional 550 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Weyerhaeuser by 11.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 93,751 shares of the real estate investment trust’s stock worth $2,662,000 after buying an additional 9,327 shares during the last quarter. First Horizon Advisors Inc. lifted its position in Weyerhaeuser by 733.9% in the second quarter. First Horizon Advisors Inc. now owns 7,872 shares of the real estate investment trust’s stock valued at $223,000 after purchasing an additional 6,928 shares during the period. Kiley Juergens Wealth Management LLC boosted its stake in shares of Weyerhaeuser by 2.5% in the second quarter. Kiley Juergens Wealth Management LLC now owns 23,245 shares of the real estate investment trust’s stock valued at $660,000 after buying an additional 562 shares in the last quarter. Finally, Cultivar Capital Inc. boosted its position in shares of Weyerhaeuser by 2.8% during the 2nd quarter. Cultivar Capital Inc. now owns 311,496 shares of the real estate investment trust’s stock worth $8,843,000 after purchasing an additional 8,355 shares in the last quarter. 82.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Truist Financial upped 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. StockNews.com upgraded Weyerhaeuser from a “sell” rating to a “hold” rating in a research note on Monday. Finally, BMO Capital Markets upgraded shares of Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $38.00 price target on the stock in a report on Friday, December 6th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.33.

Weyerhaeuser Trading Down 1.4 %

NYSE:WY opened at $29.65 on Tuesday. The business’s 50 day moving average is $31.66 and its two-hundred day moving average is $30.87. The company has a quick ratio of 1.41, a current ratio of 2.01 and a debt-to-equity ratio of 0.49. Weyerhaeuser has a 52 week low of $26.73 and a 52 week high of $36.27. The company has a market cap of $21.54 billion, a PE ratio of 40.07 and a beta of 1.40.

Weyerhaeuser (NYSE:WY) last announced its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.03. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.70 billion. Weyerhaeuser had a return on equity of 4.21% and a net margin of 7.43%. The business’s revenue was down 13.3% on a year-over-year basis. During the same quarter last year, the business posted $0.33 EPS. On average, analysts predict that Weyerhaeuser will post 0.46 EPS for the current 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 dividend of $0.20 per share. The ex-dividend date was Friday, November 29th. This represents a $0.80 annualized dividend and a dividend yield of 2.70%. Weyerhaeuser’s dividend payout ratio is presently 108.11%.

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.