Public Employees Retirement System of Ohio Invests $1.93 Million in Rayonier Inc. $RYN

Public Employees Retirement System of Ohio bought a new stake in shares of Rayonier Inc. (NYSE:RYN) in the second quarter, Holdings Channel reports. The firm bought 90,712 shares of the real estate investment trust’s stock, valued at approximately $1,930,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RYN. 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 valued at $34,000 after purchasing an additional 627 shares during the period. Eurizon Capital SGR S.p.A. acquired a new position in Rayonier in the fourth quarter valued at approximately $34,000. Bayban acquired a new position in shares of Rayonier in the 1st quarter valued at $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 in the last quarter. Finally, North Star Investment Management Corp. acquired a new stake in shares of Rayonier in the 1st quarter valued at about $51,000. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Rayonier Stock Up 0.0%

Shares of NYSE RYN opened at $20.47 on Monday. The firm has a market cap of $6.09 billion, a P/E ratio of 45.49 and a beta of 0.87. 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 Inc. has a 1 year low of $19.49 and a 1 year high of $27.06. The firm’s 50 day moving average price is $21.36 and its 200 day moving average price is $21.13.

Rayonier (NYSE:RYN) last released its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. The firm had revenue of $396.51 million during 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 business’s quarterly revenue was up 272.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.06 earnings per share. As a group, sell-side analysts anticipate that Rayonier Inc. will post 0.44 earnings per share for the current year.

Rayonier Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $1.04 annualized dividend and a dividend yield of 5.1%. Rayonier’s payout ratio is currently 231.11%.

Analyst Upgrades and Downgrades

RYN has been the subject of a number of recent research reports. Truist Financial decreased their price target on shares of Rayonier from $25.00 to $24.00 and set a “hold” rating for the company in a research note on Wednesday, July 15th. BMO Capital Markets decreased their price target on Rayonier from $26.00 to $25.00 and set a “market perform” rating on the stock in a research note on Tuesday, May 19th. Citigroup boosted their price objective on shares of Rayonier from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Finally, Weiss Ratings raised Rayonier from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, August 21st. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average 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.