Corient Private Wealth LP Purchases Shares of 94,320 Rayonier Inc. $RYN

Key Points

• Corient Private Wealth acquired 94,320 Rayonier shares worth approximately $2.0 million, while institutional investors collectively own 89.12% of the timberland REIT.
• Analysts maintain a broadly neutral outlook: Rayonier has an average “Hold” rating and a consensus price target of $24.80, compared with a recent share price of $20.20.
• Rayonier reported quarterly EPS in line with estimates at $0.10 and revenue of $396.5 million, up 272.3% year over year. The company declared a $0.26 quarterly dividend, implying a 5.1% annualized yield.

Corient Private Wealth LP acquired a new position in shares of Rayonier Inc. (NYSE:RYN - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 94,320 shares of the real estate investment trust's stock, valued at approximately $2,007,000.

A number of other institutional investors also recently modified their holdings of the company. Eurizon Capital SGR S.p.A. acquired a new position in shares of Rayonier in the 4th quarter worth approximately $34,000. Northwestern Mutual Wealth Management Co. increased its holdings in Rayonier by 65.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,581 shares of the real estate investment trust's stock valued at $34,000 after purchasing an additional 627 shares in the last quarter. Bayban bought a new position in Rayonier in the 1st quarter valued at $36,000. Whittier Trust Co. raised its position in Rayonier by 74.0% in the 1st quarter. Whittier Trust Co. now owns 2,279 shares of the real estate investment trust's stock valued at $47,000 after purchasing an additional 969 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in Rayonier by 77.9% in the third quarter. Parallel Advisors LLC now owns 2,451 shares of the real estate investment trust's stock worth $65,000 after purchasing an additional 1,073 shares in the last quarter. Institutional investors own 89.12% of the company's stock.

Wall Street Analysts Forecast Growth

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

Rayonier Stock Performance

Shares of Rayonier stock opened at $20.20 on Thursday. 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 50 day simple moving average of $21.43 and a 200 day simple moving average of $21.17. Rayonier Inc. has a fifty-two week low of $19.49 and a fifty-two week high of $27.06. The firm has a market cap of $6.01 billion, a P/E ratio of 44.88 and a beta of 0.87.

Rayonier (NYSE:RYN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. The firm 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 business's revenue for the quarter was up 272.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.06 EPS. Sell-side analysts predict that Rayonier Inc. will post 0.44 earnings per share for the current fiscal year.

Rayonier Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be given a dividend of $0.26 per share. The ex-dividend date is Wednesday, September 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 5.1%. Rayonier's payout ratio is presently 231.11%.

About Rayonier

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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