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Commerce Bank Acquires New Holdings in Rayonier Inc. (NYSE:RYN)

Rayonier logo with Construction background

Key Points

  • Commerce Bank purchased nearly 10,000 shares of Rayonier Inc., valued at approximately $277,000, indicating ongoing interest from institutional investors in the real estate investment trust.
  • Rayonier's stock has been rated predominantly as a "hold" by analysts, with an average target price of $27.75, reflecting cautious optimism about its future performance.
  • The company recently declared a quarterly dividend of $0.2725 per share, representing a yield of 4.2%, highlighting its commitment to returning value to shareholders.
  • Want stock alerts on Rayonier? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Commerce Bank bought a new position in shares of Rayonier Inc. (NYSE:RYN - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 9,937 shares of the real estate investment trust's stock, valued at approximately $277,000.

A number of other institutional investors have also modified their holdings of RYN. Deutsche Bank AG grew its holdings in shares of Rayonier by 730.8% during the 4th quarter. Deutsche Bank AG now owns 1,829,422 shares of the real estate investment trust's stock worth $47,748,000 after purchasing an additional 1,609,232 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Rayonier during the 1st quarter worth about $23,582,000. Millennium Management LLC grew its holdings in shares of Rayonier by 253.3% during the 4th quarter. Millennium Management LLC now owns 1,094,880 shares of the real estate investment trust's stock worth $28,576,000 after purchasing an additional 784,955 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Rayonier by 13.8% during the 1st quarter. Victory Capital Management Inc. now owns 2,515,298 shares of the real estate investment trust's stock worth $70,127,000 after purchasing an additional 304,803 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Rayonier by 17.9% during the 4th quarter. Northern Trust Corp now owns 1,543,523 shares of the real estate investment trust's stock worth $40,286,000 after purchasing an additional 234,629 shares during the period. Hedge funds and other institutional investors own 89.12% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on RYN shares. Truist Financial decreased their price target on Rayonier from $30.00 to $27.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd. Wall Street Zen raised Rayonier from a "sell" rating to a "hold" rating in a research report on Saturday. Citigroup dropped their price target on Rayonier from $27.00 to $26.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 3rd. Finally, Royal Bank Of Canada upped their price target on Rayonier from $26.00 to $27.00 and gave the company a "sector perform" rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Rayonier currently has an average rating of "Hold" and a consensus target price of $27.75.

View Our Latest Research Report on RYN

Rayonier Stock Performance

Shares of NYSE RYN traded up $0.21 during midday trading on Friday, reaching $26.02. 1,224,086 shares of the company traded hands, compared to its average volume of 1,131,341. The stock has a 50-day moving average price of $23.42 and a 200 day moving average price of $24.80. The company has a market cap of $4.05 billion, a price-to-earnings ratio of 5.26 and a beta of 1.00. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.50 and a quick ratio of 2.60. Rayonier Inc. has a 52 week low of $21.84 and a 52 week high of $32.88.

Rayonier (NYSE:RYN - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.03. The firm had revenue of $106.50 million during the quarter, compared to analyst estimates of $95.30 million. Rayonier had a return on equity of 3.39% and a net margin of 68.53%. The firm's quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the company posted $0.02 EPS. Sell-side analysts anticipate that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.

Rayonier Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a dividend of $0.2725 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.09 annualized dividend and a yield of 4.2%. Rayonier's dividend payout ratio is currently 22.02%.

Rayonier Profile

(Free Report)

Rayonier is a leading timberland real estate investment trust with assets located in some of the most productive softwood timber growing regions in the United States and New Zealand. As of December 31, 2023, Rayonier owned or leased under long-term agreements approximately 2.7 million acres of timberlands located in the U.S.

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Institutional Ownership by Quarter for Rayonier (NYSE:RYN)

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