Legal & General Group Plc Purchases New Holdings in Rayonier Inc. $RYN

Legal & General Group Plc bought a new stake in Rayonier Inc. (NYSE:RYN) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 10,036,382 shares of the real estate investment trust’s stock, valued at approximately $213,574,000. Legal & General Group Plc owned about 3.37% of Rayonier at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Rayonier during the second quarter worth $617,451,000. Norges Bank acquired a new position in Rayonier in the 4th quarter valued at $313,806,000. Deprince Race & Zollo Inc. acquired a new position in Rayonier in the 1st quarter valued at $85,771,000. Fuller & Thaler Asset Management Inc. raised its position 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 worth $122,261,000 after buying an additional 3,947,226 shares during the last quarter. Finally, Atlas FRM LLC acquired a new stake in shares of Rayonier in the 2nd quarter worth $83,843,200,000. Institutional investors and hedge funds own 89.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on RYN shares. Truist Financial lowered their target price 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. Citigroup raised their price objective on shares of Rayonier from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. Weiss Ratings raised Rayonier from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, August 21st. Finally, BMO Capital Markets dropped their target price on Rayonier from $26.00 to $25.00 and set a “market perform” rating on the stock in a research report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Rayonier has an average rating of “Hold” and an average price target of $24.80.

Rayonier Stock Down 1.9%

Shares of NYSE RYN opened at $20.85 on Thursday. The firm’s 50-day moving average is $21.48 and its two-hundred day moving average is $21.24. The company has a market capitalization of $6.20 billion, a PE ratio of 46.33 and a beta of 0.87. Rayonier Inc. has a 12-month low of $19.49 and a 12-month high of $27.06. 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 (NYSE:RYN) last issued its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.10 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.10. Rayonier had a net margin of 7.83% and a return on equity of 3.49%. The business had revenue of $396.51 million during the quarter, compared to analysts’ expectations of $374.28 million. During the same period last year, the company posted $0.06 EPS. The company’s revenue was up 272.3% on a year-over-year basis. Equities analysts anticipate that Rayonier Inc. will post 0.44 EPS for the current fiscal year.

Rayonier Announces Dividend

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

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.