Cetera Investment Advisers grew its position in shares of Rayonier Inc. (NYSE:RYN – Free Report) by 3,362.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 387,475 shares of the real estate investment trust’s stock after acquiring an additional 376,284 shares during the quarter. Cetera Investment Advisers owned about 0.13% of Rayonier worth $7,990,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently modified their holdings of RYN. UBS Group AG boosted its holdings in shares of Rayonier by 882.5% during the fourth quarter. UBS Group AG now owns 496,024 shares of the real estate investment trust’s stock worth $10,739,000 after purchasing an additional 445,538 shares during the period. Fieldview Capital Management LLC bought a new stake in shares of Rayonier in the fourth quarter worth about $1,936,000. World Investment Advisors purchased a new position in Rayonier during the 1st quarter valued at about $6,980,000. Vestcor Inc increased its holdings in Rayonier by 3,590.1% during the 4th quarter. Vestcor Inc now owns 128,231 shares of the real estate investment trust’s stock valued at $2,776,000 after purchasing an additional 124,756 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new position in Rayonier during the 1st quarter valued at approximately $2,146,000. 89.12% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts have weighed in on RYN shares. Truist Financial dropped their price objective on Rayonier from $25.00 to $24.00 and set a “hold” rating for the company in a report on Wednesday, July 15th. Wall Street Zen upgraded Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, April 18th. BMO Capital Markets dropped their price target on Rayonier from $26.00 to $25.00 and set a “market perform” rating for the company in a research note on Tuesday, May 19th. Weiss Ratings cut shares of Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, May 12th. Finally, Royal Bank Of Canada set a $24.00 price objective on shares of Rayonier in a research report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $24.60.
Rayonier Trading Up 2.1%
RYN opened at $21.83 on Friday. The stock has a market cap of $6.57 billion, a PE ratio of 7.23 and a beta of 0.88. The company has a quick ratio of 2.21, a current ratio of 2.53 and a debt-to-equity ratio of 0.35. The business has a 50 day moving average of $21.30 and a 200-day moving average of $21.50. Rayonier Inc. has a 52 week low of $19.49 and a 52 week high of $27.33.
Rayonier (NYSE:RYN – Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.07 earnings per share for the quarter, topping 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 company had revenue of $276.79 million for the quarter, compared to analysts’ expectations of $280.92 million. During the same period in the prior year, the firm earned ($0.02) earnings per share. The firm’s revenue for the quarter was up 233.9% on a year-over-year basis. Equities research analysts predict that Rayonier Inc. will post 0.4 earnings per share for the current fiscal year.
Rayonier Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 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 Wednesday, September 16th. Rayonier’s dividend payout ratio (DPR) is 34.44%.
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.
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