Rayonier Inc. $RYN Shares Sold by First Trust Advisors LP

First Trust Advisors LP cut its stake in Rayonier Inc. (NYSE:RYN) by 29.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 364,279 shares of the real estate investment trust’s stock after selling 154,152 shares during the period. First Trust Advisors LP’s holdings in Rayonier were worth $7,511,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Saturna Capital Corp acquired a new position in Rayonier during the first quarter worth approximately $290,000. PNC Financial Services Group Inc. boosted its holdings in shares of Rayonier by 54.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 38,057 shares of the real estate investment trust’s stock valued at $785,000 after purchasing an additional 13,338 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Rayonier by 514.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 192,593 shares of the real estate investment trust’s stock valued at $3,971,000 after purchasing an additional 161,228 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Rayonier by 810.5% during the 1st quarter. Parallel Advisors LLC now owns 2,677 shares of the real estate investment trust’s stock valued at $55,000 after buying an additional 2,383 shares during the period. Finally, KBC Group NV increased its holdings in shares of Rayonier by 169.5% during the 1st quarter. KBC Group NV now owns 11,812 shares of the real estate investment trust’s stock worth $244,000 after buying an additional 7,429 shares during the last quarter. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

Rayonier Price Performance

Rayonier stock opened at $21.83 on Friday. The firm has a fifty day moving average of $21.30 and a 200-day moving average of $21.50. Rayonier Inc. has a 52-week low of $19.49 and a 52-week high of $27.33. The company has a quick ratio of 2.21, a current ratio of 2.53 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $6.57 billion, a P/E ratio of 7.23 and a beta of 0.88.

Rayonier (NYSE:RYN) last posted its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.01. Rayonier had a net margin of 68.61% and a return on equity of 3.61%. The business had revenue of $276.79 million for the quarter, compared to analyst estimates of $280.92 million. During the same quarter in the previous year, the business posted ($0.02) EPS. The business’s quarterly revenue was up 233.9% on a year-over-year basis. As a group, analysts predict that Rayonier Inc. will post 0.4 EPS for the current year.

Rayonier Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Wednesday, September 16th. Rayonier’s payout ratio is currently 34.44%.

Analyst Upgrades and Downgrades

RYN has been the topic of several research reports. Truist Financial cut their target price on Rayonier from $25.00 to $24.00 and set a “hold” rating on the stock in a research report on Wednesday, July 15th. Royal Bank Of Canada set a $24.00 price target on Rayonier in a research report on Thursday, April 16th. Citigroup dropped their price target on Rayonier from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. BMO Capital Markets cut their price objective on Rayonier from $26.00 to $25.00 and set a “market perform” rating on the stock in a report on Tuesday, May 19th. Finally, Weiss Ratings lowered Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $24.60.

Rayonier Profile

Rayonier, Inc (NYSE: RYN) is a publicly traded real estate investment trust specializing in timberland ownership and management. The company’s core business revolves around sustainably growing, harvesting, and marketing timber and timber-related products. Rayonier’s timberland portfolio encompasses approximately 2.7 million acres across the United States and New Zealand, focusing on softwood and hardwood fiber for use in paper, packaging and building materials.

Rayonier operates through two primary segments: Timber and Real Estate Solutions.