Corient Private Wealth LP bought a new stake in Rayonier Inc. (NYSE:RYN – Free Report) during the 2nd quarter, Holdings Channel reports. The fund bought 94,320 shares of the real estate investment trust’s stock, valued at approximately $2,007,000.
Several other institutional investors also recently modified their holdings of the business. Eurizon Capital SGR S.p.A. bought a new stake in shares of Rayonier during the fourth quarter worth approximately $34,000. Northwestern Mutual Wealth Management Co. boosted its stake 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 valued at $34,000 after acquiring an additional 627 shares during the last quarter. Bayban bought a new position in Rayonier in the first quarter valued at approximately $36,000. Whittier Trust Co. boosted 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 last quarter. Finally, North Star Investment Management Corp. acquired a new stake in Rayonier during the 1st quarter worth $51,000. Institutional investors and hedge funds own 89.12% of the company’s stock.
Analyst Ratings Changes
Several analysts have commented on the stock. Truist Financial dropped their target price on shares of Rayonier from $25.00 to $24.00 and set a “hold” rating for the company in a research report on Wednesday, July 15th. Weiss Ratings upgraded Rayonier from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, August 21st. Citigroup lifted their price objective on Rayonier from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Finally, BMO Capital Markets dropped their price objective on Rayonier from $26.00 to $25.00 and set a “market perform” rating for the company in a report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $24.80.
Rayonier Stock Performance
Shares of NYSE:RYN opened at $20.20 on Thursday. The company has a market capitalization of $6.01 billion, a price-to-earnings ratio of 44.88 and a beta of 0.87. The firm’s 50 day simple moving average is $21.43 and its 200 day simple moving average is $21.17. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.56 and a quick ratio of 2.91. Rayonier Inc. has a fifty-two week low of $19.49 and a fifty-two week high of $27.06.
Rayonier (NYSE:RYN – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. The business had revenue of $396.51 million for the quarter, compared to analyst estimates of $374.28 million. Rayonier had a net margin of 7.83% and a return on equity of 3.49%. Rayonier’s quarterly revenue was up 272.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.06 EPS. As a group, sell-side analysts forecast that Rayonier Inc. will post 0.44 earnings per share for the current year.
Rayonier Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend is Wednesday, September 16th. Rayonier’s dividend payout ratio (DPR) is currently 231.11%.
Rayonier Company 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.
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