California State Teachers Retirement System Acquires 186,683 Shares of Rayonier Inc. $RYN

California State Teachers Retirement System lifted its holdings in shares of Rayonier Inc. (NYSE:RYN) by 124.2% during the 1st quarter, Holdings Channel.com reports. The firm owned 337,049 shares of the real estate investment trust’s stock after buying an additional 186,683 shares during the quarter. California State Teachers Retirement System’s holdings in Rayonier were worth $6,950,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in RYN. Norges Bank purchased a new position in Rayonier in the 4th quarter worth approximately $313,806,000. Deprince Race & Zollo Inc. bought a new stake in shares of Rayonier in the first quarter worth about $85,771,000. Fuller & Thaler Asset Management Inc. increased its holdings in Rayonier by 232.2% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 5,647,156 shares of the real estate investment trust’s stock valued at $122,261,000 after purchasing an additional 3,947,226 shares during the period. Kopernik Global Investors LLC bought a new stake in shares of Rayonier in the 1st quarter worth approximately $45,086,000. Finally, Pictet Asset Management Holding SA increased its stake in shares of Rayonier by 42.3% during the first quarter. Pictet Asset Management Holding SA now owns 4,925,463 shares of the real estate investment trust’s stock valued at $101,563,000 after buying an additional 1,463,118 shares during the period. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, April 18th. Weiss Ratings cut Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. Truist Financial reduced their target price on shares of Rayonier from $25.00 to $24.00 and set a “hold” rating on the stock in a research report on Wednesday, July 15th. Citigroup lowered their target price on shares of Rayonier from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Finally, Royal Bank Of Canada set a $24.00 price objective on Rayonier in a research report on Thursday, April 16th. One research 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’s stock. According to data from MarketBeat.com, Rayonier presently has a consensus rating of “Hold” and a consensus target price of $24.60.

Rayonier Stock Performance

Shares of NYSE RYN opened at $21.99 on Thursday. The firm’s 50-day moving average price is $21.38 and its 200-day moving average price is $21.45. Rayonier Inc. has a 52-week low of $19.49 and a 52-week high of $27.33. The company has a market cap of $6.61 billion, a PE ratio of 7.28 and a beta of 0.87. 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 (NYSE:RYN) last posted its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.10 EPS for the quarter, hitting analysts’ consensus estimates of $0.10. The business had revenue of $396.50 million during the quarter, compared to the consensus estimate of $374.28 million. Rayonier had a net margin of 68.61% and a return on equity of 3.61%. The firm’s revenue was up 272.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.06 EPS. As a group, analysts anticipate that Rayonier Inc. will post 0.39 EPS for the current year.

Rayonier Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Wednesday, September 16th. Rayonier’s dividend payout ratio is 34.44%.

Rayonier 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.