Commonwealth of Pennsylvania Public School Empls Retrmt SYS Purchases 32,531 Shares of Rayonier Inc. $RYN

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Rayonier Inc. (NYSE:RYN) by 87.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,689 shares of the real estate investment trust’s stock after purchasing an additional 32,531 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Rayonier were worth $1,437,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in RYN. Fieldview Capital Management LLC bought a new stake in shares of Rayonier during the 4th quarter worth approximately $1,936,000. UBS Group AG grew its position 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 acquiring an additional 445,538 shares during the last quarter. World Investment Advisors purchased a new stake in Rayonier in the first quarter worth $6,980,000. Vestcor Inc increased its stake in Rayonier by 3,590.1% in 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 during the period. Finally, HighTower Advisors LLC lifted its position in shares of Rayonier by 61.3% during the fourth quarter. HighTower Advisors LLC now owns 139,706 shares of the real estate investment trust’s stock worth $3,025,000 after purchasing an additional 53,087 shares during the last quarter. Institutional investors own 89.12% of the company’s stock.

Insider Transactions at Rayonier

In related news, CFO Wayne Wasechek sold 2,920 shares of the business’s stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $21.17, for a total value of $61,816.40. Following the completion of the transaction, the chief financial officer owned 115,530 shares of the company’s stock, valued at $2,445,770.10. The trade was a 2.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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. 0.85% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on RYN shares. Truist Financial cut their price target on shares of Rayonier from $25.00 to $24.00 and set a “hold” rating on the stock in a report on Wednesday. Wall Street Zen upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, April 18th. Citigroup lowered their price objective on shares of Rayonier from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Weiss Ratings lowered shares of Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 12th. Finally, Royal Bank Of Canada set a $24.00 price target on shares of Rayonier in a research note on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $24.60.

Rayonier Stock Performance

RYN stock opened at $22.13 on Friday. Rayonier Inc. has a 1-year low of $19.49 and a 1-year high of $27.33. The business has a 50-day moving average price of $20.99 and a 200 day moving average price of $21.53. The company has a market capitalization of $6.66 billion, a P/E ratio of 7.33 and a beta of 0.88. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.53 and a quick ratio of 2.21.

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

Rayonier Announces Dividend

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

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.