Sei Investments Co. Raises Stock Holdings in Rayonier Inc. $RYN

Sei Investments Co. raised its stake in Rayonier Inc. (NYSE:RYN) by 1,594.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 600,398 shares of the real estate investment trust’s stock after buying an additional 564,960 shares during the quarter. Sei Investments Co. owned about 0.20% of Rayonier worth $12,380,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. UBS Group AG increased its holdings in Rayonier by 882.5% in the 4th quarter. UBS Group AG now owns 496,024 shares of the real estate investment trust’s stock valued at $10,739,000 after purchasing an additional 445,538 shares during the last quarter. Fieldview Capital Management LLC acquired a new position in Rayonier during the fourth quarter worth $1,936,000. World Investment Advisors acquired a new position in Rayonier during the first quarter worth $6,980,000. Vestcor Inc lifted its stake in Rayonier by 3,590.1% during the fourth quarter. Vestcor Inc now owns 128,231 shares of the real estate investment trust’s stock worth $2,776,000 after purchasing an additional 124,756 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Rayonier during the first quarter worth $2,146,000. Institutional investors and hedge funds own 89.12% of the company’s stock.

Rayonier Stock Performance

Shares of RYN stock opened at $21.83 on Friday. The company has a quick ratio of 2.21, a current ratio of 2.53 and a debt-to-equity ratio of 0.35. Rayonier Inc. has a 52 week low of $19.49 and a 52 week high of $27.33. The stock has a market capitalization of $6.57 billion, a PE ratio of 7.23 and a beta of 0.88. The firm has a 50 day moving average of $21.30 and a two-hundred day moving average of $21.50.

Rayonier (NYSE:RYN) last posted its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.07 EPS for the quarter, topping the consensus estimate of $0.06 by $0.01. The business had revenue of $276.79 million during 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 quarterly revenue was up 233.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. On average, research analysts predict that Rayonier Inc. will post 0.4 EPS for the current fiscal year.

Rayonier Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Wednesday, September 16th. Rayonier’s payout ratio is presently 34.44%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on RYN shares. Wall Street Zen raised Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, April 18th. Truist Financial decreased their target price on Rayonier from $25.00 to $24.00 and set a “hold” rating on the stock in a research note on Wednesday, July 15th. Citigroup lowered their target price on Rayonier from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. BMO Capital Markets dropped their target price on Rayonier from $26.00 to $25.00 and set a “market perform” rating for the company in a research report on Tuesday, May 19th. Finally, Weiss Ratings lowered shares of Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $24.60.

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.