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

A number of other large investors also recently modified their holdings of the business. Massachusetts Financial Services Co. MA grew its holdings in Rayonier by 0.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,372,817 shares of the real estate investment trust's stock worth $88,031,000 after acquiring an additional 20,126 shares during the period. Legal & General Group Plc grew its holdings in Rayonier by 5.8% during the fourth quarter. Legal & General Group Plc now owns 3,107,331 shares of the real estate investment trust's stock worth $81,101,000 after acquiring an additional 170,087 shares during the period. Geode Capital Management LLC grew its holdings in Rayonier by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 2,632,193 shares of the real estate investment trust's stock worth $68,719,000 after acquiring an additional 39,332 shares during the period. Victory Capital Management Inc. grew its holdings in Rayonier by 13.8% during the first quarter. Victory Capital Management Inc. now owns 2,515,298 shares of the real estate investment trust's stock worth $70,127,000 after acquiring an additional 304,803 shares during the period. Finally, Deutsche Bank AG grew its holdings in Rayonier by 730.8% during the fourth quarter. Deutsche Bank AG now owns 1,829,422 shares of the real estate investment trust's stock worth $47,748,000 after acquiring an additional 1,609,232 shares during the period. 89.12% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Rayonier Stock Up 1.5%

NYSE RYN traded up $0.37 during trading on Tuesday, reaching $24.03. 264,842 shares of the company's stock were exchanged, compared to its average volume of 1,105,215. Rayonier Inc. has a fifty-two week low of $21.84 and a fifty-two week high of $32.88. The firm has a market capitalization of $3.74 billion, a PE ratio of 10.31 and a beta of 1.00. The company has a current ratio of 2.71, a quick ratio of 2.60 and a debt-to-equity ratio of 0.54. The company's fifty day simple moving average is $23.32 and its 200-day simple moving average is $24.83.

Rayonier Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Tuesday, September 16th. Rayonier's payout ratio is currently 46.78%.

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.