Corient Private Wealth LP Purchases 83,432 Shares of Rayonier Inc. $RYN

Corient Private Wealth LP lifted its holdings in Rayonier Inc. (NYSE:RYN - Free Report) by 731.4% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 94,839 shares of the real estate investment trust's stock after buying an additional 83,432 shares during the period. Corient Private Wealth LP's holdings in Rayonier were worth $2,018,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Bank of America Corp DE grew its position in Rayonier by 141.8% during the first quarter. Bank of America Corp DE now owns 1,620,769 shares of the real estate investment trust's stock valued at $33,420,000 after buying an additional 950,473 shares during the period. Fieldview Capital Management LLC bought a new stake in Rayonier in the fourth quarter worth about $1,936,000. World Investment Advisors purchased a new position in Rayonier in the first quarter valued at about $6,980,000. Vestcor Inc boosted its stake in Rayonier by 3,590.1% in the fourth quarter. Vestcor Inc now owns 128,231 shares of the real estate investment trust's stock valued at $2,776,000 after acquiring an additional 124,756 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its position in shares of Rayonier by 42.3% during the 1st quarter. Pictet Asset Management Holding SA now owns 4,925,463 shares of the real estate investment trust's stock valued at $101,563,000 after acquiring an additional 1,463,118 shares during the period. 89.12% of the stock is owned by institutional investors.

Rayonier Stock Down 1.9%

Shares of NYSE:RYN opened at $19.85 on Thursday. The firm has a fifty day moving average price of $21.04 and a two-hundred day moving average price of $20.95. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.56 and a quick ratio of 2.91. Rayonier Inc. has a one year low of $19.49 and a one year high of $27.06. The company has a market cap of $5.91 billion, a price-to-earnings ratio of 44.11 and a beta of 0.87.

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

Rayonier Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $1.04 annualized dividend and a dividend yield of 5.2%. Rayonier's payout ratio is presently 231.11%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on RYN shares. Weiss Ratings upgraded shares of Rayonier from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, August 21st. Citigroup increased their price objective on Rayonier from $22.00 to $23.00 and gave the company a "neutral" rating in a report on Monday, August 10th. Finally, Truist Financial decreased their target price on Rayonier from $25.00 to $24.00 and set a "hold" rating for the company in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $24.80.

Insider Buying and Selling at Rayonier

In related news, EVP Mark Bridwell sold 5,318 shares of the firm's stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $20.19, for a total value of $107,370.42. Following the sale, the executive vice president directly owned 131,661 shares of the company's stock, valued at $2,658,235.59. This trade represents a 3.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.85% of the company's stock.

Rayonier Company Profile

Rayonier Inc NYSE: RYN is a real estate investment trust that owns, leases and manages timberlands. The company generates revenue primarily through the sustainable harvesting and sale of timber, including sawtimber, pulpwood and chip products used in construction, packaging, pulp and paper manufacturing, and other wood products industries.

Rayonier's timberland portfolio spans the U.S. South, the Pacific Northwest and New Zealand. In addition to timber operations, the company manages a real estate business that monetizes land through rural and recreational property sales, residential and commercial development, conservation transactions, and other higher-value uses.

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