Fiduciary Counselling Inc. bought a new stake in shares of Rayonier Inc. (NYSE:RYN – Free Report) during the 1st quarter, HoldingsChannel reports. The firm bought 207,884 shares of the real estate investment trust’s stock, valued at approximately $4,287,000. Rayonier accounts for about 11.9% of Fiduciary Counselling Inc.’s portfolio, making the stock its 4th biggest position.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Eurizon Capital SGR S.p.A. purchased a new position in shares of Rayonier in the fourth quarter worth $34,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Rayonier by 65.7% during 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 buying an additional 627 shares during the last quarter. Bayban bought a new stake in Rayonier in the 1st quarter worth about $36,000. Hartford Financial Management Inc. increased its holdings in Rayonier by 49.7% in the 4th quarter. Hartford Financial Management Inc. now owns 1,732 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 575 shares in the last quarter. Finally, Whittier Trust Co. raised its position in Rayonier by 74.0% in the 1st quarter. Whittier Trust Co. now owns 2,279 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 969 shares during the last quarter. Institutional investors own 89.12% of the company’s stock.
Insider Activity at Rayonier
In other news, CFO Wayne Wasechek sold 2,920 shares of the company’s stock in a transaction on Monday, April 20th. The stock was sold at an average price of $21.17, for a total value of $61,816.40. Following the completion of the sale, the chief financial officer directly owned 115,530 shares in the company, valued at $2,445,770.10. This represents a 2.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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. 0.85% of the stock is owned by company insiders.
Rayonier Stock Performance
Rayonier (NYSE:RYN – Get Free Report) last announced its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. Rayonier had a net margin of 68.61% and a return on equity of 3.61%. The business had revenue of $276.79 million during the quarter, compared to analysts’ expectations of $280.92 million. During the same period in the prior year, the company earned ($0.02) earnings per share. The firm’s revenue was up 233.9% on a year-over-year basis. On average, equities research analysts predict that Rayonier Inc. will post 0.36 EPS for the current year.
Rayonier Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.8%. Rayonier’s payout ratio is presently 34.44%.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on the stock. Royal Bank Of Canada set a $24.00 target price on shares of Rayonier in a research note on Thursday, April 16th. Citigroup decreased their price objective on shares of Rayonier from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Wall Street Zen upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, April 18th. BMO Capital Markets dropped their target price 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. Finally, Truist Financial lifted their target price on shares of Rayonier from $24.00 to $25.00 and gave the stock a “hold” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $24.80.
Check Out Our Latest Report on RYN
Rayonier 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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