Deutsche Bank AG Decreases Stock Holdings in Rayonier Inc. (NYSE: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 Rayonier Inc. (NYSE:RYN - Free Report) by 66.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 619,880 shares of the real estate investment trust's stock after selling 1,209,542 shares during the period. Deutsche Bank AG owned 0.40% of Rayonier worth $17,282,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its holdings in Rayonier by 5.0% in the first quarter. Principal Financial Group Inc. now owns 323,985 shares of the real estate investment trust's stock valued at $9,033,000 after acquiring an additional 15,382 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Rayonier by 54.6% in the first quarter. GAMMA Investing LLC now owns 2,680 shares of the real estate investment trust's stock valued at $75,000 after acquiring an additional 947 shares in the last quarter. Marshall Wace LLP bought a new stake in Rayonier in the fourth quarter valued at $376,000. Wealth Enhancement Advisory Services LLC bought a new stake in Rayonier in the first quarter valued at $1,017,000. Finally, New York State Teachers Retirement System boosted its holdings in Rayonier by 5.4% in the first quarter. New York State Teachers Retirement System now owns 166,119 shares of the real estate investment trust's stock valued at $4,631,000 after acquiring an additional 8,565 shares in the last quarter. Institutional investors own 89.12% of the company's stock.

Rayonier Stock Down 0.7%

Shares of RYN stock traded down $0.19 during mid-day trading on Friday, reaching $26.36. 908,891 shares of the company's stock traded hands, compared to its average volume of 1,085,891. The company's 50-day moving average price is $23.72 and its 200-day moving average price is $24.80. The company has a quick ratio of 2.60, a current ratio of 3.50 and a debt-to-equity ratio of 0.37. The company has a market cap of $4.06 billion, a P/E ratio of 5.33 and a beta of 1.00. Rayonier Inc. has a 12 month low of $21.84 and a 12 month high of $32.88.

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 (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.03. The firm had revenue of $106.50 million during 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.02 EPS. On average, equities analysts expect that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.

Rayonier Dividend Announcement

The business also recently declared 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 4.1%. The ex-dividend date of this dividend is Tuesday, September 16th. Rayonier's payout ratio is currently 22.02%.

Wall Street Analyst Weigh In

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