Journey Retirement Planning & Investment Management LLC acquired a new stake in shares of Rayonier Inc. (NYSE:RYN – Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 34,802 shares of the real estate investment trust’s stock, valued at approximately $639,000.
Several other hedge funds and other institutional investors also recently modified their holdings of RYN. Bayban bought a new stake in Rayonier during the 1st quarter valued at $36,000. Whittier Trust Co. increased its holdings in shares of Rayonier by 74.0% in the first quarter. Whittier Trust Co. now owns 2,279 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 969 shares during the period. North Star Investment Management Corp. bought a new stake in shares of Rayonier during the 1st quarter valued at about $51,000. Sunbelt Securities Inc. raised its stake in Rayonier by 124,900.0% in the first quarter. Sunbelt Securities Inc. now owns 2,500 shares of the real estate investment trust’s stock valued at $52,000 after purchasing an additional 2,498 shares in the last quarter. Finally, Basecamp Wealth Advisors LLC grew its stake in Rayonier by 109.5% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 2,571 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 1,344 shares in the last quarter. Institutional investors own 89.12% of the company’s stock.
Rayonier Stock Up 0.6%
RYN stock traded up $0.10 on Friday, reaching $18.70. 1,945,569 shares of the company traded hands, compared to its average volume of 3,010,894. The firm has a fifty day simple moving average of $20.33 and a 200-day simple moving average of $20.79. The company has a market cap of $5.57 billion, a P/E ratio of 41.55 and a beta of 0.89. Rayonier Inc. has a one year low of $17.71 and a one year high of $26.45. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.56 and a quick ratio of 2.91.
Rayonier Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date was Wednesday, September 16th. Rayonier’s dividend payout ratio (DPR) is currently 231.11%.
Insider Activity
In other news, EVP Mark Bridwell sold 5,318 shares of the stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $20.19, for a total transaction of $107,370.42. Following the sale, the executive vice president owned 131,661 shares in the company, valued at $2,658,235.59. This represents a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold a total of 6,219 shares of company stock valued at $124,088 in the last 90 days. Corporate insiders own 0.85% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on RYN. Seaport Research Partners reissued a “buy” rating and issued a $30.00 target price on shares of Rayonier in a research note on Thursday. Weiss Ratings upgraded Rayonier from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, August 21st. Truist Financial dropped their target price on shares of Rayonier from $25.00 to $24.00 and set a “hold” rating for the company in a report on Wednesday, July 15th. Finally, Citigroup cut their price target on shares of Rayonier from $23.00 to $19.00 and set a “neutral” rating on the stock in a report on Monday. One analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $24.00.
Get Our Latest Report on Rayonier
About Rayonier
Rayonier Inc (NYSE:RYN) is a real estate investment trust that owns, leases and manages timberlands. The company generates revenue primarily from the sale of timber and logs, as well as from real estate transactions and leases involving its land holdings.
Rayonier’s timber operations span the U.S. South, the Pacific Northwest and New Zealand. Its products include timber used in construction, packaging, paper and other wood-related applications. The company also pursues opportunities involving rural land, conservation, renewable energy and other alternative uses of its properties.
Founded in 1926, Rayonier has evolved from a forest-products company into a publicly traded timberland owner and manager.
Featured Stories
- Five stocks we like better than Rayonier
- Alphabet Introduces Gemini Agent—Can It Trigger a Breakout?
- Palantir’s Rally Puts Wall Street in Catch-Up Mode Ahead of November Earnings
- Tilray Finds a Path to Growth Without Waiting on U.S. Cannabis Reform
- Arista Networks Plugs Into All-Time Highs
Want to see what other hedge funds are holding RYN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rayonier Inc. (NYSE:RYN – Free Report).
Receive News & Ratings for Rayonier Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rayonier and related companies with MarketBeat.com's FREE daily email newsletter.
