Allianz Asset Management GmbH Purchases New Stake in Rayonier Inc. (NYSE:RYN)

Key Points

• Allianz Asset Management GmbH has acquired a new stake in Rayonier Inc. by purchasing 23,555 shares valued at approximately $657,000, according to recent SEC filings.
• Rayonier's quarterly earnings report showed a loss of $0.02 EPS, missing expectations, and a revenue decline of 27.1% year-over-year.
• The company declared a quarterly dividend of $0.2725 per share, set to be paid on September 30th, which corresponds to an annualized yield of 4.7%.

Allianz Asset Management GmbH bought a new position in Rayonier Inc. (NYSE:RYN - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 23,555 shares of the real estate investment trust's stock, valued at approximately $657,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA raised its holdings in Rayonier by 0.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,372,817 shares of the real estate investment trust's stock valued at $88,031,000 after buying an additional 20,126 shares during the last quarter. Legal & General Group Plc raised its holdings in Rayonier by 5.8% in the 4th quarter. Legal & General Group Plc now owns 3,107,331 shares of the real estate investment trust's stock valued at $81,101,000 after buying an additional 170,087 shares during the last quarter. Geode Capital Management LLC raised its holdings in Rayonier by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 2,632,193 shares of the real estate investment trust's stock valued at $68,719,000 after buying an additional 39,332 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Rayonier by 13.8% in the 1st quarter. Victory Capital Management Inc. now owns 2,515,298 shares of the real estate investment trust's stock valued at $70,127,000 after buying an additional 304,803 shares during the last quarter. Finally, Deutsche Bank AG raised its holdings in 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 last quarter. Institutional investors own 89.12% of the company's stock.

Rayonier Trading Up 1.1%

Shares of NYSE:RYN traded up $0.25 during mid-day trading on Monday, hitting $23.67. The company had a trading volume of 487,659 shares, compared to its average volume of 1,107,189. The firm has a fifty day moving average price of $23.31 and a 200 day moving average price of $24.85. The company has a market capitalization of $3.69 billion, a PE ratio of 10.18 and a beta of 1.00. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.71 and a quick ratio of 2.60. Rayonier Inc. has a one year low of $21.84 and a one year high of $32.88.

Rayonier Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a $0.2725 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $1.09 annualized dividend and a dividend yield of 4.6%. Rayonier's payout ratio is currently 46.78%.

Analyst Upgrades and Downgrades

RYN has been the subject of several analyst reports. Citigroup lowered their price target on shares of Rayonier from $27.00 to $26.00 and set a "neutral" rating for the company in a report on Tuesday, June 3rd. Truist Financial lowered their price target on shares of Rayonier from $30.00 to $27.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd. Royal Bank Of Canada lowered their price target on shares of Rayonier from $28.00 to $27.00 and set a "sector perform" rating for the company in a report on Friday, May 2nd. Finally, Wall Street Zen upgraded shares of Rayonier from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Rayonier has a consensus rating of "Hold" and an average target price of $27.75.

About Rayonier

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.