Pictet Asset Management Holding SA Grows Holdings in Rayonier Inc. $RYN

Pictet Asset Management Holding SA grew its stake in shares of Rayonier Inc. (NYSE:RYN) by 42.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,925,463 shares of the real estate investment trust’s stock after buying an additional 1,463,118 shares during the quarter. Pictet Asset Management Holding SA owned 1.63% of Rayonier worth $101,563,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Rayonier by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 21,174,792 shares of the real estate investment trust’s stock worth $458,434,000 after purchasing an additional 444,503 shares during the last quarter. Norges Bank bought a new stake in Rayonier in the 4th quarter worth approximately $313,806,000. Cohen & Steers Inc. boosted its stake in Rayonier by 5.6% in the fourth quarter. Cohen & Steers Inc. now owns 13,548,815 shares of the real estate investment trust’s stock worth $293,332,000 after buying an additional 717,021 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in shares of Rayonier by 232.2% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,647,156 shares of the real estate investment trust’s stock worth $122,261,000 after acquiring an additional 3,947,226 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Rayonier by 5.0% in the 4th quarter. State Street Corp now owns 4,779,300 shares of the real estate investment trust’s stock worth $103,472,000 after acquiring an additional 226,012 shares during the last quarter. 89.12% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Rayonier news, CFO Wayne Wasechek sold 2,920 shares of the company’s stock in a transaction on Monday, April 20th. The shares were sold at an average price of $21.17, for a total value of $61,816.40. Following the completion of the transaction, the chief financial officer directly owned 115,530 shares in the company, valued at approximately $2,445,770.10. This represents a 2.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 0.85% of the company’s stock.

Rayonier Trading Down 0.1%

NYSE RYN opened at $21.89 on Monday. Rayonier Inc. has a fifty-two week low of $19.49 and a fifty-two week high of $27.33. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.21 and a current ratio of 2.53. The stock has a 50 day simple moving average of $20.89 and a two-hundred day simple moving average of $21.57. The stock has a market cap of $6.58 billion, a P/E ratio of 7.25 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 (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. Rayonier had a return on equity of 3.61% and a net margin of 68.61%.The firm had revenue of $276.79 million for the quarter, compared to analysts’ expectations of $280.92 million. During the same period in the previous year, the firm earned ($0.02) earnings per share. The business’s revenue was up 233.9% compared to the same quarter last year. On average, analysts forecast that Rayonier Inc. will post 0.36 earnings per share for the current year.

Rayonier Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on RYN shares. Citigroup lowered their price target on shares of Rayonier from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Wall Street Zen raised Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, April 18th. BMO Capital Markets lowered their price objective on Rayonier from $26.00 to $25.00 and set a “market perform” rating for the company in a research report on Tuesday, May 19th. Truist Financial increased their price objective on Rayonier from $24.00 to $25.00 and gave the company a “hold” rating in a research note on Monday, May 11th. Finally, Weiss Ratings cut shares of Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Rayonier presently has a consensus rating of “Hold” and a consensus target price of $24.80.

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.