Parvin Asset Management LLC bought a new position in Rayonier Inc. (NYSE:RYN – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 52,363 shares of the real estate investment trust’s stock, valued at approximately $1,114,000.
Other large investors also recently bought and sold shares of the company. Quarry LP boosted its position in Rayonier by 19.8% in the fourth quarter. Quarry LP now owns 3,012 shares of the real estate investment trust’s stock worth $65,000 after purchasing an additional 498 shares during the last quarter. Greenwood Gearhart Inc. lifted its stake in Rayonier by 4.9% in the 4th quarter. Greenwood Gearhart Inc. now owns 10,802 shares of the real estate investment trust’s stock worth $234,000 after purchasing an additional 502 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in 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. Keybank National Association OH raised its stake in Rayonier by 4.4% during the fourth quarter. Keybank National Association OH now owns 15,641 shares of the real estate investment trust’s stock valued at $339,000 after purchasing an additional 656 shares in the last quarter. Finally, Painted Porch Advisors LLC raised its position in Rayonier by 4.9% during the fourth quarter. Painted Porch Advisors LLC now owns 14,421 shares of the real estate investment trust’s stock valued at $312,000 after purchasing an additional 671 shares during the period. 89.12% of the stock is currently owned by institutional investors.
Rayonier Trading Down 1.9%
Shares of NYSE:RYN opened at $20.85 on Thursday. The company has a quick ratio of 2.91, a current ratio of 3.56 and a debt-to-equity ratio of 0.36. Rayonier Inc. has a 52-week low of $19.49 and a 52-week high of $27.06. The stock has a market cap of $6.20 billion, a price-to-earnings ratio of 46.33 and a beta of 0.87. The business has a 50-day moving average price of $21.48 and a 200-day moving average price of $21.24.
Rayonier Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $1.04 dividend on an annualized basis and a yield of 5.0%. Rayonier’s payout ratio is presently 231.11%.
Analysts Set New Price Targets
RYN has been the subject of a number of recent analyst reports. Truist Financial lowered their target price 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. Weiss Ratings upgraded shares of Rayonier from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, August 21st. BMO Capital Markets cut their price objective on shares of Rayonier from $26.00 to $25.00 and set a “market perform” rating on the stock in a research report on Tuesday, May 19th. Finally, Citigroup upped their price target on Rayonier from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. 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, the company presently has a consensus rating of “Hold” and a consensus price target of $24.80.
Get Our Latest Stock 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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