51,347 Shares in Rayonier Inc. $RYN Bought by Oak Thistle LLC

Key Points

• Oak Thistle LLC established a new position in Rayonier by purchasing 51,347 shares in Q4, valued at about $1.11 million.
• Institutional investors own 89.12% of the stock, while insiders hold just 0.87%; Rayonier's chairman sold 169,200 shares (≈$3.63M), cutting his stake by 19.25%.
• Analyst sentiment is mixed with a consensus price target of $26.00 and an average "Hold" rating, though firms range from "sell" to "strong-buy" (Raymond James upgraded to strong-buy).

Oak Thistle LLC purchased a new position in shares of Rayonier Inc. (NYSE:RYN - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 51,347 shares of the real estate investment trust's stock, valued at approximately $1,112,000.

A number of other hedge funds have also bought and sold shares of the business. Cary Street Partners Financial LLC lifted its holdings in Rayonier by 1.8% during the third quarter. Cary Street Partners Financial LLC now owns 28,345 shares of the real estate investment trust's stock worth $752,000 after acquiring an additional 510 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Rayonier by 2.2% during the third quarter. PNC Financial Services Group Inc. now owns 24,299 shares of the real estate investment trust's stock worth $645,000 after acquiring an additional 514 shares during the period. Arizona State Retirement System raised its stake in shares of Rayonier by 1.2% in the third quarter. Arizona State Retirement System now owns 43,791 shares of the real estate investment trust's stock valued at $1,162,000 after buying an additional 525 shares during the period. Amalgamated Bank raised its stake in shares of Rayonier by 1.0% in the third quarter. Amalgamated Bank now owns 65,401 shares of the real estate investment trust's stock valued at $1,736,000 after buying an additional 654 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of Rayonier by 55.5% in the third quarter. Blue Trust Inc. now owns 1,913 shares of the real estate investment trust's stock valued at $51,000 after buying an additional 683 shares during the period. 89.12% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on RYN. Truist Financial lowered their target price on Rayonier from $28.00 to $26.00 and set a "hold" rating on the stock in a research note on Tuesday, January 6th. Weiss Ratings restated a "hold (c-)" rating on shares of Rayonier in a research note on Friday, March 27th. Wall Street Zen lowered Rayonier from a "hold" rating to a "sell" rating in a research note on Saturday, February 28th. Royal Bank Of Canada boosted their target price on Rayonier from $25.00 to $26.00 and gave the company a "sector perform" rating in a research note on Tuesday, February 17th. Finally, Raymond James Financial upgraded Rayonier from an "outperform" rating to a "strong-buy" rating and boosted their price objective for the company from $26.00 to $28.00 in a research note on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $26.00.

Rayonier Price Performance

Shares of NYSE RYN opened at $21.35 on Friday. The firm has a market capitalization of $6.45 billion, a P/E ratio of 7.00 and a beta of 0.97. The company has a quick ratio of 3.23, a current ratio of 3.26 and a debt-to-equity ratio of 0.38. The stock's 50-day simple moving average is $21.49 and its two-hundred day simple moving average is $22.61. Rayonier Inc. has a twelve month low of $19.49 and a twelve month high of $27.33.

Rayonier (NYSE:RYN - Get Free Report) last announced its earnings results on Wednesday, February 11th. The real estate investment trust reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.08. The business had revenue of $117.50 million for the quarter, compared to analyst estimates of $108.71 million. Rayonier had a return on equity of 4.09% and a net margin of 97.94%.The company's quarterly revenue was down 24.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.24 EPS. As a group, equities analysts anticipate that Rayonier Inc. will post 0.55 EPS for the current fiscal year.

Rayonier Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date was Tuesday, March 17th. Rayonier's dividend payout ratio is currently 34.10%.

Insiders Place Their Bets

In other Rayonier news, Chairman Eric J. Cremers sold 169,200 shares of the company's stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $21.44, for a total value of $3,627,648.00. Following the transaction, the chairman directly owned 709,583 shares in the company, valued at $15,213,459.52. This represents a 19.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.87% of the stock is owned by corporate insiders.

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.

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