New York State Teachers Retirement System Buys 162,080 Shares of Rayonier Inc. $RYN

New York State Teachers Retirement System increased its stake in shares of Rayonier Inc. (NYSE:RYN) by 82.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 359,816 shares of the real estate investment trust’s stock after buying an additional 162,080 shares during the quarter. New York State Teachers Retirement System’s holdings in Rayonier were worth $7,419,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Eurizon Capital SGR S.p.A. bought a new stake in shares of Rayonier during the 4th quarter valued at $34,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Rayonier by 65.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,581 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 627 shares during the period. Hartford Financial Management Inc. increased its position in shares of Rayonier by 49.7% in the fourth quarter. Hartford Financial Management Inc. now owns 1,732 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 575 shares during the period. Bayban acquired a new position in Rayonier in the first quarter valued at about $36,000. Finally, Parallel Advisors LLC raised its stake in Rayonier by 77.9% in the third quarter. Parallel Advisors LLC now owns 2,451 shares of the real estate investment trust’s stock valued at $65,000 after purchasing an additional 1,073 shares in the last quarter. Institutional investors own 89.12% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Weiss Ratings downgraded shares of Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. Wall Street Zen upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, April 18th. Truist Financial increased their price target 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. Royal Bank Of Canada set a $24.00 price objective on shares of Rayonier in a research note on Thursday, April 16th. Finally, BMO Capital Markets lowered their price objective on shares of Rayonier from $26.00 to $25.00 and set a “market perform” rating for the company in a research report on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $24.80.

Rayonier Trading Up 0.8%

Shares of NYSE:RYN traded up $0.16 during midday trading on Tuesday, hitting $21.76. 230,910 shares of the stock were exchanged, compared to its average volume of 2,861,370. The business’s 50-day moving average price is $20.92 and its 200 day moving average price is $21.55. Rayonier Inc. has a 12 month low of $19.49 and a 12 month high of $27.33. 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 stock has a market capitalization of $6.55 billion, a price-to-earnings ratio of 7.20 and a beta of 0.88.

Rayonier (NYSE:RYN) last issued its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.07 earnings per share (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 analyst estimates of $280.92 million. During the same quarter last year, the business earned ($0.02) EPS. The firm’s quarterly revenue was up 233.9% on a year-over-year basis. Analysts predict that Rayonier Inc. will post 0.36 earnings per share for the current year.

Rayonier Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $1.04 annualized dividend and a dividend yield of 4.8%. Rayonier’s dividend payout ratio (DPR) is presently 34.44%.

Insider Activity

In other news, CFO Wayne Wasechek sold 2,920 shares of Rayonier stock in a transaction on 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 in the company, valued at approximately $2,445,770.10. The trade was a 2.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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. Insiders own 0.85% of the company’s stock.

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.