Edgestream Partners L.P. Cuts Stock Holdings in Rayonier Inc. $RYN

Key Points

• Edgestream Partners sharply reduced its Rayonier stake by 86.9% in the first quarter, selling 130,770 shares and retaining 19,668 shares valued at approximately $406,000. Institutional investors still own 89.12% of RYN.
• Rayonier reported quarterly EPS of $0.10, in line with estimates, while revenue of $396.5 million exceeded expectations and rose 272.3% year over year.
• The company declared a quarterly dividend of $0.26, equivalent to an annualized $1.04 payout and a 4.7% yield. Analysts maintain a consensus “Hold” rating with an average price target of $24.60.

Edgestream Partners L.P. reduced its stake in shares of Rayonier Inc. (NYSE:RYN - Free Report) by 86.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,668 shares of the real estate investment trust's stock after selling 130,770 shares during the quarter. Edgestream Partners L.P.'s holdings in Rayonier were worth $406,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of RYN. Eurizon Capital SGR S.p.A. bought a new stake in shares of Rayonier in the 4th quarter valued at about $34,000. Northwestern Mutual Wealth Management Co. grew its position 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 worth $34,000 after acquiring an additional 627 shares during the last quarter. Bayban bought a new position in Rayonier during the 1st quarter worth approximately $36,000. Hartford Financial Management Inc. grew its position in Rayonier by 49.7% during the 4th quarter. Hartford Financial Management Inc. now owns 1,732 shares of the real estate investment trust's stock worth $37,000 after acquiring an additional 575 shares during the last quarter. Finally, Whittier Trust Co. increased its stake 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 worth $47,000 after purchasing an additional 969 shares during the period. 89.12% of the stock is owned by institutional investors.

Rayonier Stock Up 0.3%

NYSE RYN opened at $21.99 on Thursday. Rayonier Inc. has a 1 year low of $19.49 and a 1 year high of $27.33. The stock has a market capitalization of $6.61 billion, a PE ratio of 7.28 and a beta of 0.87. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.53 and a quick ratio of 2.21. The business's 50-day moving average is $21.38 and its 200 day moving average is $21.45.

Rayonier (NYSE:RYN - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $396.50 million during the quarter, compared to analysts' expectations of $374.28 million. Rayonier had a return on equity of 3.61% and a net margin of 68.61%.The business's revenue was up 272.3% on a year-over-year basis. During the same quarter last year, the business posted $0.06 EPS. Sell-side analysts forecast that Rayonier Inc. will post 0.39 earnings per share for the current year.

Rayonier Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be issued a $0.26 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $1.04 annualized dividend and a yield of 4.7%. Rayonier's payout ratio is 34.44%.

Analyst Ratings Changes

Several analysts have weighed in on RYN shares. Truist Financial lowered their price objective on Rayonier from $25.00 to $24.00 and set a "hold" rating for the company in a research report on Wednesday, July 15th. Citigroup cut their target price on shares of Rayonier from $24.00 to $22.00 and set a "neutral" rating on the stock in a report on Wednesday, May 13th. Royal Bank Of Canada set a $24.00 target price on shares of Rayonier in a research note on Thursday, April 16th. Wall Street Zen upgraded shares of Rayonier from a "sell" rating to a "hold" rating in a report on Saturday, April 18th. Finally, BMO Capital Markets dropped their price target on shares of Rayonier from $26.00 to $25.00 and set a "market perform" rating for the company in a research report on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $24.60.

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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