Shares of Weyerhaeuser (WY) have been a poor performer over the past year, losing about 6% of their value and missing out on a meaningful market rally. A leading owner of timberland and manufacturer of wood products, WY Summary - Weyerhaeuser remains pressured by weak residential construction, with shares underperforming and macro headwinds limiting near-term upside. - Timberlands and Wood Products segments face ongoing volume and pricing challenges, though lumber realizations have recently improved, and supply-side responses may stabilize markets. - Balance sheet leverage is elevated at 5.1x, with free cash flow constrained by capex for a new EWP facility; dividend yield of 3.6% appears secure. - I see WY as a 'collect the dividend' stock near current levels, with slow recovery expected and no rush to buy unless shares approach $20. Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.