Cetera Investment Advisers Buys 376,284 Shares of Rayonier Inc. $RYN

Cetera Investment Advisers boosted its stake in shares of Rayonier Inc. (NYSE:RYN) by 3,362.4% in the first quarter, Holdings Channel reports. The institutional investor owned 387,475 shares of the real estate investment trust’s stock after purchasing an additional 376,284 shares during the period. Cetera Investment Advisers’ holdings in Rayonier were worth $7,990,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Rayonier during the fourth quarter valued at $313,806,000. Deprince Race & Zollo Inc. bought a new position in Rayonier in the 1st quarter worth about $85,771,000. Fuller & Thaler Asset Management Inc. boosted its stake in Rayonier by 232.2% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 5,647,156 shares of the real estate investment trust’s stock worth $122,261,000 after purchasing an additional 3,947,226 shares in the last quarter. Kopernik Global Investors LLC purchased a new stake in Rayonier during the 1st quarter valued at about $45,086,000. Finally, Pictet Asset Management Holding SA grew its position in Rayonier by 42.3% during the 1st 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 purchasing an additional 1,463,118 shares during the last quarter. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Wall Street Analysts Forecast Growth

RYN has been the subject of several recent analyst reports. Truist Financial decreased their target price on shares of Rayonier from $25.00 to $24.00 and set a “hold” rating for the company in a report on Wednesday, July 15th. Citigroup cut their price target on shares of Rayonier from $24.00 to $22.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. Royal Bank Of Canada set a $24.00 price target on shares of Rayonier in a research report on Thursday, April 16th. Wall Street Zen upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, April 18th. Finally, Weiss Ratings cut Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $24.60.

Rayonier Price Performance

RYN opened at $21.83 on Friday. 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 $6.57 billion, a P/E ratio of 7.23 and a beta of 0.88. The company’s 50-day simple moving average is $21.30 and its two-hundred day simple moving average is $21.50. Rayonier Inc. has a 52-week low of $19.49 and a 52-week high of $27.33.

Rayonier (NYSE:RYN) last announced its quarterly earnings results 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 firm 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 business’s quarterly revenue was up 233.9% compared to the same quarter last year. As a group, analysts predict that Rayonier Inc. will post 0.4 EPS for the current 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 issued a $0.26 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $1.04 annualized dividend and a yield of 4.8%. Rayonier’s dividend payout ratio (DPR) is currently 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.