Murphy Pohlad Asset Management LLC Purchases Shares of 43,775 Rayonier Inc. $RYN

Murphy Pohlad Asset Management LLC bought a new position in shares of Rayonier Inc. (NYSE:RYN) during the 2nd quarter, HoldingsChannel reports. The firm bought 43,775 shares of the real estate investment trust’s stock, valued at approximately $932,000.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Rayonier in the second quarter valued at about $617,451,000. Norges Bank acquired a new position in shares of Rayonier in the 4th quarter valued at $313,806,000. Legal & General Group Plc acquired a new stake in shares of Rayonier during the 2nd quarter valued at about $213,574,000. California State Teachers Retirement System increased its position in shares of Rayonier by 1,882.6% in the second quarter. California State Teachers Retirement System now owns 6,682,367 shares of the real estate investment trust’s stock valued at $142,201,000 after buying an additional 6,345,318 shares in the last quarter. Finally, Deprince Race & Zollo Inc. acquired a new stake in Rayonier in the 1st quarter worth about $85,771,000. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Rayonier Stock Up 0.1%

Shares of RYN stock traded up $0.03 during trading hours on Tuesday, reaching $20.48. The company had a trading volume of 2,749,534 shares, compared to its average volume of 2,893,479. The stock’s fifty day simple moving average is $21.34 and its 200 day simple moving average is $21.10. Rayonier Inc. has a twelve month low of $19.49 and a twelve month high of $27.06. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.91 and a current ratio of 3.56. The company has a market capitalization of $6.10 billion, a P/E ratio of 45.52 and a beta of 0.87.

Rayonier (NYSE:RYN) last released its quarterly 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. Rayonier had a net margin of 7.83% and a return on equity of 3.49%. The business had revenue of $396.51 million during the quarter, compared to analyst estimates of $374.28 million. During the same period last year, the business earned $0.06 EPS. The business’s revenue was up 272.3% on a year-over-year basis. As a group, sell-side analysts expect that Rayonier Inc. will post 0.44 earnings per share for the current fiscal year.

Rayonier Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders 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 5.1%. 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. Weiss Ratings raised shares of Rayonier from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, August 21st. BMO Capital Markets decreased their price objective on shares of Rayonier from $26.00 to $25.00 and set a “market perform” rating on the stock in a report on Tuesday, May 19th. Citigroup raised their target price on Rayonier from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Finally, Truist Financial dropped 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. One analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price 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.