89,419 Shares in Rayonier Inc. $RYN Acquired by Fieldview Capital Management LLC

Key Points

• Fieldview Capital Management bought a new stake in Rayonier, acquiring 89,419 shares worth about $1.94 million in the fourth quarter and bringing its ownership to 0.06% of the company.
• Rayonier’s latest quarterly results showed EPS of $0.07, slightly ahead of estimates, while revenue came in at $276.79 million; the company also posted strong year-over-year revenue growth.
• The company declared a quarterly dividend of $0.26 per share, implying a 4.8% annualized yield, while analysts currently have a consensus “Hold” rating with a $24.80 price target.

Fieldview Capital Management LLC bought a new stake in shares of Rayonier Inc. (NYSE:RYN - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 89,419 shares of the real estate investment trust's stock, valued at approximately $1,936,000. Fieldview Capital Management LLC owned 0.06% of Rayonier as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of RYN. Royal Bank of Canada boosted its stake in shares of Rayonier by 29.6% during the 1st quarter. Royal Bank of Canada now owns 159,116 shares of the real estate investment trust's stock valued at $4,436,000 after buying an additional 36,344 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in shares of Rayonier during the 1st quarter valued at $501,000. United Services Automobile Association acquired a new stake in shares of Rayonier during the 1st quarter valued at $250,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Rayonier by 30.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 554,628 shares of the real estate investment trust's stock valued at $15,463,000 after buying an additional 130,985 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Rayonier by 16.9% during the 2nd quarter. Invesco Ltd. now owns 863,707 shares of the real estate investment trust's stock valued at $19,157,000 after buying an additional 124,574 shares during the period. Institutional investors and hedge funds own 89.12% of the company's stock.

Insider Activity

In other news, CFO Wayne Wasechek sold 2,920 shares of the business's stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $21.17, for a total transaction of $61,816.40. Following the transaction, the chief financial officer owned 115,530 shares in the company, valued at approximately $2,445,770.10. The trade was a 2.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.85% of the company's stock.

Rayonier Stock Up 4.8%

Rayonier stock opened at $21.86 on Friday. The company has a market capitalization of $6.57 billion, a P/E ratio of 7.24 and a beta of 0.88. The firm's fifty day simple moving average is $20.86 and its 200-day simple moving average is $21.60. The company has a current ratio of 2.53, a quick ratio of 2.21 and a debt-to-equity ratio of 0.35. Rayonier Inc. has a 1-year low of $19.49 and a 1-year high of $27.33.

Rayonier (NYSE:RYN - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.07 earnings per share for the quarter, beating analysts' consensus estimates of $0.06 by $0.01. The business had revenue of $276.79 million for the quarter, compared to the consensus estimate of $280.92 million. Rayonier had a net margin of 68.61% and a return on equity of 3.61%. Rayonier's revenue for the quarter was up 233.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.02) EPS. Sell-side analysts forecast that Rayonier Inc. will post 0.36 earnings per share for the current fiscal year.

Rayonier Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 4.8%. The ex-dividend date is Tuesday, June 16th. Rayonier's dividend payout ratio (DPR) is 34.44%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on RYN shares. Truist Financial lifted their target price on shares of Rayonier from $24.00 to $25.00 and gave the company a "hold" rating in a research note on Monday, May 11th. BMO Capital Markets decreased their target price 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. Weiss Ratings lowered shares of Rayonier from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, May 12th. Wall Street Zen raised shares of Rayonier from a "sell" rating to a "hold" rating in a research note on Saturday, April 18th. Finally, Citigroup decreased their target price on shares of Rayonier from $24.00 to $22.00 and set a "neutral" rating for the company in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company 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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