Louisiana State Employees Retirement System Invests $1.66 Million in Rayonier Inc. $RYN

Louisiana State Employees Retirement System purchased a new position in Rayonier Inc. (NYSE:RYN) during the first quarter, HoldingsChannel reports. The firm purchased 80,600 shares of the real estate investment trust’s stock, valued at approximately $1,662,000.

Several other institutional investors also recently bought and sold shares of RYN. Eurizon Capital SGR S.p.A. purchased a new position in Rayonier in the fourth quarter worth about $34,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Rayonier by 65.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,581 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 627 shares during the last quarter. Hartford Financial Management Inc. increased its position in shares of Rayonier by 49.7% during the fourth quarter. Hartford Financial Management Inc. now owns 1,732 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 575 shares in the last quarter. Parallel Advisors LLC raised its holdings in Rayonier by 77.9% in the 3rd quarter. Parallel Advisors LLC now owns 2,451 shares of the real estate investment trust’s stock worth $65,000 after acquiring an additional 1,073 shares during the last quarter. Finally, Allworth Financial LP raised its holdings in Rayonier by 134.8% in the 3rd quarter. Allworth Financial LP now owns 2,858 shares of the real estate investment trust’s stock worth $76,000 after acquiring an additional 1,641 shares during the last quarter. 89.12% of the stock is owned by hedge funds and other institutional investors.

Rayonier Price Performance

Shares of RYN opened at $21.29 on Thursday. The firm has a fifty day simple moving average of $20.90 and a two-hundred day simple moving average of $21.56. The firm has a market cap of $6.40 billion, a PE ratio of 7.05 and a beta of 0.88. The company has a current ratio of 2.53, a quick ratio of 2.21 and a debt-to-equity ratio of 0.35. Rayonier Inc. has a 1-year low of $19.49 and a 1-year high of $27.33.

Rayonier (NYSE:RYN) last released its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. Rayonier had a return on equity of 3.61% and a net margin of 68.61%.The firm had revenue of $276.79 million for the quarter, compared to the consensus estimate of $280.92 million. During the same period last year, the business posted ($0.02) EPS. The company’s revenue for the quarter was up 233.9% on a year-over-year basis. On average, equities analysts anticipate that Rayonier Inc. will post 0.36 EPS for the current year.

Rayonier Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have commented on the company. BMO Capital Markets cut their target price on Rayonier from $26.00 to $25.00 and set a “market perform” rating on the stock in a research note on Tuesday, May 19th. Truist Financial upped their price target on Rayonier from $24.00 to $25.00 and gave the company a “hold” rating in a report on Monday, May 11th. Citigroup dropped their price objective on Rayonier from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. Weiss Ratings downgraded Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, May 12th. Finally, Royal Bank Of Canada set a $24.00 target price on Rayonier in a research report on Thursday, April 16th. One research 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $24.80.

Insider Transactions at Rayonier

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

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.