129,661 Shares in Rayonier Inc. $RYN Acquired by Deutsche Bank AG

Key Points

• Deutsche Bank acquired 129,661 Rayonier shares worth approximately $2.76 million during the second quarter. Institutional investors and hedge funds collectively own 89.12% of the company.
• Rayonier reported quarterly revenue of $396.51 million and earnings of $0.10 per share, matching estimates; revenue increased 272.3% year over year.
• The company declared a quarterly dividend of $0.26 per share, equivalent to an annualized $1.04 payout and a 5.0% yield. Analysts maintain a consensus “Hold” rating with a $24.80 price target.

Deutsche Bank AG bought a new stake in shares of Rayonier Inc. (NYSE:RYN - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 129,661 shares of the real estate investment trust's stock, valued at approximately $2,759,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Rayonier during the 4th quarter worth $313,806,000. Deprince Race & Zollo Inc. purchased a new position in Rayonier in the first quarter valued at about $85,771,000. Fuller & Thaler Asset Management Inc. grew its stake in Rayonier by 232.2% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,647,156 shares of the real estate investment trust's stock valued at $122,261,000 after purchasing an additional 3,947,226 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Rayonier in the second quarter worth about $52,572,000. Finally, Kopernik Global Investors LLC purchased a new stake in shares of Rayonier during the first quarter valued at about $45,086,000. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

Rayonier Stock Performance

RYN opened at $20.63 on Friday. The company has a market cap of $6.14 billion, a P/E ratio of 45.85 and a beta of 0.87. The company has a quick ratio of 2.91, a current ratio of 3.56 and a debt-to-equity ratio of 0.36. The firm's 50-day moving average price is $21.48 and its 200-day moving average price is $21.23. Rayonier Inc. has a 52-week low of $19.49 and a 52-week high of $27.06.

Rayonier (NYSE:RYN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.10 EPS for the quarter, hitting the consensus estimate of $0.10. The business had revenue of $396.51 million during the quarter, compared to the consensus estimate of $374.28 million. Rayonier had a net margin of 7.83% and a return on equity of 3.49%. The business's revenue for the quarter was up 272.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.06 earnings per share. As a group, equities analysts anticipate that Rayonier Inc. will post 0.44 EPS for the current fiscal year.

Rayonier Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders 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 dividend on an annualized basis and a yield of 5.0%. Rayonier's payout ratio is currently 231.11%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RYN. BMO Capital Markets lowered their price target on shares of Rayonier from $26.00 to $25.00 and set a "market perform" rating on the stock in a report on Tuesday, May 19th. Citigroup increased their target price 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. Truist Financial lowered their target price on shares of Rayonier from $25.00 to $24.00 and set a "hold" rating for the company in a research note on Wednesday, July 15th. Finally, Weiss Ratings upgraded shares of Rayonier from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $24.80.

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.

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