Comprehensive Money Management Services LLC Makes New Investment in Rayonier Inc. $RYN

Key Points

• Comprehensive Money Management Services LLC bought 85,187 Rayonier shares worth approximately $1.8 million, making RYN about 1.1% of its portfolio. Institutional investors collectively own 89.12% of the company.
• Analysts maintain a generally cautious view, with one Strong Buy and five Hold ratings. Rayonier’s average price target is $24.80, compared with shares recently opening at $20.63.
• Rayonier reported quarterly revenue of $396.5 million, up 272.3% year over year, while meeting earnings estimates at $0.10 per share. The company also declared a quarterly dividend of $0.26, equivalent to a 5.0% annualized yield.

Comprehensive Money Management Services LLC purchased a new position in shares of Rayonier Inc. (NYSE:RYN - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 85,187 shares of the real estate investment trust's stock, valued at approximately $1,813,000. Rayonier makes up about 1.1% of Comprehensive Money Management Services LLC's investment portfolio, making the stock its 19th largest position.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Royal Bank of Canada grew its stake in 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 worth $4,436,000 after buying an additional 36,344 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Rayonier in the first quarter valued at about $501,000. United Services Automobile Association purchased a new stake in Rayonier in the first quarter valued at about $250,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Rayonier by 30.9% in the first 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 last quarter. Finally, Invesco Ltd. boosted its holdings in Rayonier by 16.9% in the second quarter. Invesco Ltd. now owns 863,707 shares of the real estate investment trust's stock worth $19,157,000 after acquiring an additional 124,574 shares in the last quarter. Hedge funds and other institutional investors own 89.12% of the company's stock.

Wall Street Analysts Forecast Growth

RYN has been the topic of a number of research analyst reports. Citigroup boosted their price target on Rayonier from $22.00 to $23.00 and gave the stock a "neutral" rating in a research note on Monday, August 10th. Truist Financial decreased their price objective on shares of Rayonier from $25.00 to $24.00 and set a "hold" rating for the company in a research report on Wednesday, July 15th. Weiss Ratings upgraded shares of Rayonier from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, August 21st. Finally, BMO Capital Markets dropped their target price on shares of Rayonier from $26.00 to $25.00 and set a "market perform" rating on the stock in a research report on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $24.80.

Rayonier Stock Performance

Shares of RYN stock opened at $20.63 on Friday. The business has a fifty day moving average of $21.48 and a 200 day moving average of $21.23. Rayonier Inc. has a 1 year low of $19.49 and a 1 year high of $27.06. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.56 and a quick ratio of 2.91. The firm has a market capitalization of $6.14 billion, a price-to-earnings ratio of 45.85 and a beta of 0.87.

Rayonier (NYSE:RYN - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. The business had revenue of $396.51 million for the quarter, compared to the consensus estimate of $374.28 million. Rayonier had a return on equity of 3.49% and a net margin of 7.83%.The company's quarterly revenue was up 272.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.06 EPS. As a group, research analysts expect that Rayonier Inc. will post 0.44 earnings per share for the current year.

Rayonier Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be given a $0.26 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $1.04 dividend on an annualized basis and a yield of 5.0%. Rayonier's dividend payout ratio is currently 231.11%.

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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