Bank of New York Mellon Corp acquired a new stake in Rayonier Inc. (NYSE:RYN - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,470,478 shares of the real estate investment trust's stock, valued at approximately $52,572,000. Bank of New York Mellon Corp owned 0.82% of Rayonier as of its most recent SEC filing.
Several other large investors have also bought and sold shares of RYN. Eurizon Capital SGR S.p.A. bought a new stake in shares of Rayonier in the 4th quarter valued at about $34,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Rayonier by 65.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,581 shares of the real estate investment trust's stock worth $34,000 after acquiring an additional 627 shares during the period. Bayban acquired a new position in shares of Rayonier in the first quarter worth approximately $36,000. Whittier Trust Co. boosted its holdings in Rayonier by 74.0% in the first quarter. Whittier Trust Co. now owns 2,279 shares of the real estate investment trust's stock valued at $47,000 after acquiring an additional 969 shares during the last quarter. Finally, North Star Investment Management Corp. bought a new stake in Rayonier in the first quarter valued at approximately $51,000. 89.12% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several research firms have issued reports on RYN. Truist Financial lowered their price target 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. BMO Capital Markets reduced their price objective on shares of Rayonier from $26.00 to $25.00 and set a "market perform" rating on the stock in a research note on Tuesday, May 19th. Citigroup increased their price objective on shares of Rayonier from $22.00 to $23.00 and gave the stock a "neutral" rating in a research report on Monday, August 10th. Finally, Weiss Ratings raised shares of Rayonier from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, August 21st. One analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $24.80.
View Our Latest Report on RYN
Rayonier Stock Down 0.9%
Shares of Rayonier stock opened at $20.63 on Friday. The stock's 50-day moving average is $21.48 and its 200 day moving average is $21.23. Rayonier Inc. has a one year low of $19.49 and a one year high of $27.06. The firm has a market cap of $6.14 billion, a price-to-earnings ratio of 45.85 and a beta of 0.87. 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 - Get Free Report) last issued its earnings results 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 return on equity of 3.49% and a net margin of 7.83%.The business had revenue of $396.51 million during the quarter, compared to the consensus estimate of $374.28 million. During the same period in the previous year, the company posted $0.06 earnings per share. The firm's revenue for the quarter was up 272.3% on a year-over-year basis. Equities research analysts anticipate that Rayonier Inc. will post 0.44 EPS for the current year.
Rayonier Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be paid a $0.26 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $1.04 annualized dividend and a dividend yield of 5.0%. Rayonier's payout ratio is currently 231.11%.
Rayonier Profile
(
Free Report)
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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