Oppenheimer Asset Management Inc. Takes Position in Rayonier Inc. $RYN

Oppenheimer Asset Management Inc. acquired a new position in shares of Rayonier Inc. (NYSE:RYN) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 46,381 shares of the real estate investment trust’s stock, valued at approximately $987,000.

Other large investors also recently made changes to their positions in the company. Eurizon Capital SGR S.p.A. acquired a new position in Rayonier during the 4th quarter worth approximately $34,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Rayonier by 65.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,581 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 627 shares in the last quarter. Bayban bought a new position in Rayonier in the first quarter worth approximately $36,000. Whittier Trust Co. grew its stake in Rayonier by 74.0% in the first quarter. Whittier Trust Co. now owns 2,279 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 969 shares during the period. Finally, Parallel Advisors LLC grew its stake in Rayonier by 77.9% in the third quarter. Parallel Advisors LLC now owns 2,451 shares of the real estate investment trust’s stock valued at $65,000 after acquiring an additional 1,073 shares during the period. 89.12% of the stock is currently owned by institutional investors and hedge funds.

Rayonier Stock Performance

Shares of RYN opened at $21.55 on Monday. The firm has a market capitalization of $6.41 billion, a P/E ratio of 47.90 and a beta of 0.87. Rayonier Inc. has a 52 week low of $19.49 and a 52 week high of $27.33. The stock has a 50 day moving average price of $21.47 and a two-hundred day moving average price of $21.32. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.91 and a current ratio of 3.56.

Rayonier (NYSE:RYN) last posted its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.10 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.10. The company had revenue of $396.51 million for the quarter, compared to analyst estimates of $374.28 million. Rayonier had a return on equity of 3.49% and a net margin of 7.83%.The company’s revenue for the quarter was up 272.3% on a year-over-year basis. During the same quarter last year, the company earned $0.06 earnings per share. Equities analysts forecast that Rayonier Inc. will post 0.42 earnings per share for the current fiscal year.

Rayonier Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Wednesday, September 16th. Rayonier’s dividend payout ratio is presently 231.11%.

Analyst Ratings Changes

RYN has been the topic of a number of research reports. BMO Capital Markets lowered their target price on Rayonier from $26.00 to $25.00 and set a “market perform” rating on the stock in a research report on Tuesday, May 19th. Weiss Ratings restated a “sell (d+)” rating on shares of Rayonier in a research note on Friday, August 7th. Truist Financial lowered their price objective on shares of Rayonier from $25.00 to $24.00 and set a “hold” rating on the stock in a report on Wednesday, July 15th. Finally, Citigroup raised their price objective on shares of Rayonier from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $24.80.

About Rayonier

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.