L2 Asset Management LLC Purchases 23,844 Shares of Rayonier Inc. $RYN

L2 Asset Management LLC increased its stake in Rayonier Inc. (NYSE:RYN) by 132.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,897 shares of the real estate investment trust’s stock after buying an additional 23,844 shares during the period. L2 Asset Management LLC’s holdings in Rayonier were worth $907,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Baker Ellis Asset Management LLC increased its stake in Rayonier by 3.8% in the 4th quarter. Baker Ellis Asset Management LLC now owns 12,942 shares of the real estate investment trust’s stock worth $280,000 after buying an additional 469 shares during the period. Bfsg LLC increased its stake in Rayonier by 0.6% in the 4th quarter. Bfsg LLC now owns 78,219 shares of the real estate investment trust’s stock worth $1,693,000 after buying an additional 492 shares during the period. Quarry LP increased its stake in Rayonier by 19.8% in the 4th quarter. Quarry LP now owns 3,012 shares of the real estate investment trust’s stock worth $65,000 after buying an additional 498 shares during the period. Greenwood Gearhart Inc. increased 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 buying an additional 502 shares during the period. Finally, Cary Street Partners Financial LLC increased its stake in Rayonier by 1.8% in the 3rd quarter. Cary Street Partners Financial LLC now owns 28,345 shares of the real estate investment trust’s stock worth $752,000 after buying an additional 510 shares during the period. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Rayonier Trading Down 1.0%

NYSE RYN opened at $21.33 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.21 and a current ratio of 2.53. The company has a market capitalization of $6.42 billion, a price-to-earnings ratio of 7.06 and a beta of 0.88. The company’s 50-day simple moving average is $20.87 and its two-hundred day simple moving average is $21.59. Rayonier Inc. has a one year low of $19.49 and a one year high of $27.33.

Rayonier (NYSE:RYN) last posted 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. The business had revenue of $276.79 million for the quarter, compared to the consensus estimate of $280.92 million. Rayonier had a net margin of 68.61% and a return on equity of 3.61%. The company’s revenue for the quarter was up 233.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.02) EPS. Equities analysts forecast that Rayonier Inc. will post 0.36 EPS for the current fiscal year.

Rayonier Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $1.04 dividend on an annualized basis and a yield of 4.9%. Rayonier’s dividend payout ratio (DPR) is 34.44%.

Insider Buying and Selling

In other Rayonier news, CFO Wayne Wasechek sold 2,920 shares of the firm’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $21.17, for a total transaction of $61,816.40. Following the transaction, the chief financial officer owned 115,530 shares of the company’s stock, valued at approximately $2,445,770.10. This trade represents a 2.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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. Company insiders own 0.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Wall Street Zen raised shares of Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, April 18th. Truist Financial raised their price target on shares of Rayonier from $24.00 to $25.00 and gave the stock a “hold” rating in a research note on Monday, May 11th. Royal Bank Of Canada set a $24.00 price target on shares of Rayonier in a research note on Thursday, April 16th. BMO Capital Markets reduced their price target on shares of Rayonier from $26.00 to $25.00 and set a “market perform” rating on the stock in a research note on Tuesday, May 19th. Finally, Weiss Ratings downgraded shares of Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target 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.