Deutsche Bank AG Sells 1,209,542 Shares of Rayonier Inc. $RYN

Key Points

• Deutsche Bank AG sold 1,209,542 shares of Rayonier Inc., reducing its holdings by 66.1% during the first quarter, leaving it with 619,880 shares valued at $17.28 million.
• Rayonier recently reported a Q2 earnings per share of $0.06, surpassing expectations and showing a revenue increase of 6.9% year-over-year, totaling $106.5 million.
• The company declared a quarterly dividend of $0.2725 per share, with a dividend yield of 4.1%, set to be paid on September 30th.

Deutsche Bank AG lowered its stake in shares of Rayonier Inc. (NYSE:RYN - Free Report) by 66.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 619,880 shares of the real estate investment trust's stock after selling 1,209,542 shares during the quarter. Deutsche Bank AG owned approximately 0.40% of Rayonier worth $17,282,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. American National Bank & Trust acquired a new position in Rayonier during the 1st quarter valued at approximately $28,000. Parallel Advisors LLC boosted its position in Rayonier by 133.5% during the 1st quarter. Parallel Advisors LLC now owns 1,123 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 642 shares during the period. Byrne Asset Management LLC acquired a new position in Rayonier during the 1st quarter worth $38,000. GAMMA Investing LLC boosted its position in Rayonier by 54.6% during the 1st quarter. GAMMA Investing LLC now owns 2,680 shares of the real estate investment trust's stock worth $75,000 after acquiring an additional 947 shares during the period. Finally, Fifth Third Bancorp boosted its position in Rayonier by 182.4% during the 1st quarter. Fifth Third Bancorp now owns 2,753 shares of the real estate investment trust's stock worth $77,000 after acquiring an additional 1,778 shares during the period. Institutional investors and hedge funds own 89.12% of the company's stock.

Rayonier Stock Down 0.2%

NYSE:RYN traded down $0.06 during trading hours on Monday, hitting $26.26. 199,822 shares of the company's stock traded hands, compared to its average volume of 1,109,809. The firm has a market cap of $4.05 billion, a P/E ratio of 5.31 and a beta of 1.00. Rayonier Inc. has a twelve month low of $21.84 and a twelve month high of $32.88. The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.38 and a current ratio of 3.50. The stock's fifty day moving average price is $23.72 and its two-hundred day moving average price is $24.79.

Rayonier (NYSE:RYN - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.03. The firm had revenue of $106.50 million for the quarter, compared to analyst estimates of $95.30 million. Rayonier had a return on equity of 3.39% and a net margin of 68.53%. Rayonier's quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.02 earnings per share. On average, research analysts expect that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.

Rayonier Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a $0.2725 dividend. This represents a $1.09 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Tuesday, September 16th. Rayonier's dividend payout ratio is currently 22.02%.

Analyst Upgrades and Downgrades

RYN has been the subject of a number of analyst reports. Truist Financial reduced their price target on Rayonier from $30.00 to $27.00 and set a "hold" rating for the company in a research report on Tuesday, April 22nd. Royal Bank Of Canada boosted their price target on Rayonier from $26.00 to $27.00 and gave the stock a "sector perform" rating in a research report on Friday, August 8th. Wall Street Zen upgraded Rayonier from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Citigroup reduced their price target on Rayonier from $27.00 to $26.00 and set a "neutral" rating for the company in a research report on Tuesday, June 3rd. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $27.75.

Rayonier Company Profile

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.