Fox Run Management L.L.C. has significantly reduced its stake in the Weyerhaeuser Company, a major real estate investment trust, by 38% during the second quarter of this year. According to its latest Form 13F filing with the Securities and Exchange Commission, the firm now holds 27,399 shares after divesting 16,766 shares in the quarter. As of the most recent filing, Fox Run’s holdings in Weyerhaeuser are valued at approximately $704,000.
Other institutional investors have also made notable adjustments to their positions in Weyerhaeuser. For instance, Envestnet Asset Management Inc. increased its holdings by 3.5% during the first quarter, bringing its total to 520,443 shares valued at $15.2 million. Similarly, Allworth Financial LP raised its stake by 8.7%, now owning 7,559 shares valued at $221,000.
The New York State Common Retirement Fund also expanded its holdings by 14.9%, acquiring an additional 83,000 shares, which brings its total to 639,474 shares valued at approximately $18.7 million. Other firms, such as MQS Management LLC and Bleakley Financial Group LLC, have made recent investments in Weyerhaeuser, with Bleakley boosting its stake by an impressive 416.6%.
As it stands, institutional investors and hedge funds collectively own around 82.99% of Weyerhaeuser’s stock. This level of institutional ownership reflects a significant interest in the real estate investment trust, which has prompted various analysts to evaluate the stock’s future performance.
Several research analysts have recently provided insights regarding Weyerhaeuser’s stock performance. The Royal Bank Of Canada has lowered its price target from $31.00 to $30.00, while maintaining an “outperform” rating. CIBC also adjusted its forecast, reducing the price target from $32.00 to $31.00.
Others, including DA Davidson and Truist Financial, have similarly revised their price objectives, with DA Davidson decreasing from $35.00 to $31.00 and Truist lowering its target from $29.00 to $27.00. Citigroup also revised its target, dropping it from $30.00 to $28.00, while maintaining a “buy” rating.
Currently, Weyerhaeuser holds a consensus rating of “Moderate Buy” from analysts, with one rating it as a Strong Buy, seven as Buy, one as Hold, and two as Sell.
Weyerhaeuser’s stock performance has seen fluctuations, with shares opening at $22.70 on Tuesday. The company has recorded a 12-month low of $22.28 and a high of $32.70. Its market capitalization stands at approximately $16.36 billion, and it has a price-to-earnings ratio of 59.74.
The real estate investment trust recently announced its earnings results on October 30, reporting earnings per share (EPS) of $0.06, surpassing analysts’ expectations of a loss of $0.07 by $0.13. Revenue for the quarter reached $1.72 billion, slightly above the anticipated $1.71 billion. This represents a 12.1% increase in revenue compared to the same quarter last year, when the company reported an EPS of $0.05.
As analysts project future performance, Weyerhaeuser is expected to post an EPS of $0.78 for the current year.
Founded in 1900, Weyerhaeuser Company is one of the largest private owners of timberlands globally, managing approximately 11 million acres in the U.S. and additional timberlands in Canada. The company is committed to sustainable management practices that adhere to internationally recognized forestry standards.
