Rayonier Inc. $RYN Shares Bought by NewEdge Advisors LLC

NewEdge Advisors LLC grew its stake in shares of Rayonier Inc. (NYSE:RYN) by 1,150.5% in the 1st quarter, Holdings Channel reports. The institutional investor owned 41,941 shares of the real estate investment trust’s stock after buying an additional 38,587 shares during the quarter. NewEdge Advisors LLC’s holdings in Rayonier were worth $865,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Rayonier by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 21,174,792 shares of the real estate investment trust’s stock worth $458,434,000 after buying an additional 444,503 shares during the period. Norges Bank purchased a new stake in Rayonier during the fourth quarter valued at about $313,806,000. Cohen & Steers Inc. increased its stake in Rayonier by 5.6% during the fourth quarter. Cohen & Steers Inc. now owns 13,548,815 shares of the real estate investment trust’s stock worth $293,332,000 after acquiring an additional 717,021 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in Rayonier by 232.2% during the fourth 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 acquiring an additional 3,947,226 shares during the last quarter. Finally, Pictet Asset Management Holding SA raised its holdings in shares of Rayonier by 42.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 4,925,463 shares of the real estate investment trust’s stock worth $101,563,000 after purchasing an additional 1,463,118 shares during the period. 89.12% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on RYN. Citigroup lifted their price objective on Rayonier from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Weiss Ratings restated a “sell (d+)” rating on shares of Rayonier in a report on Friday, August 7th. 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, July 15th. Finally, BMO Capital Markets decreased their price objective on shares of Rayonier from $26.00 to $25.00 and set a “market perform” rating for the company in a research note on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Rayonier presently has an average rating of “Hold” and a consensus price target of $24.80.

Rayonier Trading Down 2.9%

NYSE:RYN opened at $20.79 on Wednesday. The business’s 50-day moving average is $21.48 and its two-hundred day moving average is $21.30. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.56 and a quick ratio of 2.91. Rayonier Inc. has a 12 month low of $19.49 and a 12 month high of $27.33. The firm has a market capitalization of $6.19 billion, a PE ratio of 46.20 and a beta of 0.87.

Rayonier (NYSE:RYN) last issued its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.10 EPS for the quarter, hitting analysts’ consensus estimates of $0.10. Rayonier had a return on equity of 3.49% and a net margin of 7.83%.The company had revenue of $396.51 million for the quarter, compared to analysts’ expectations of $374.28 million. During the same quarter in the previous year, the firm posted $0.06 earnings per share. The firm’s quarterly revenue was up 272.3% on a year-over-year basis. Research analysts predict that Rayonier Inc. will post 0.42 earnings per share for the current fiscal year.

Rayonier Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $1.04 annualized dividend and a yield of 5.0%. Rayonier’s payout ratio is 231.11%.

Rayonier Company 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.