Rayonier Inc. $RYN Shares Newly Purchased by Adams Asset Advisors LLC

Key Points

• Adams Asset Advisors bought 167,348 Rayonier shares worth approximately $3.07 million, while institutional investors collectively own 89.12% of the company.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and a $24 price target; targets ranged from $19 at Citigroup to $30 at Seaport Research Partners.
• Rayonier shares traded at $18.55, near their 52-week low, while the company reported $396.5 million in quarterly revenue and maintains a quarterly dividend of $0.26, representing a 5.6% annualized yield.

Adams Asset Advisors LLC purchased a new position in Rayonier Inc. (NYSE:RYN - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 167,348 shares of the real estate investment trust's stock, valued at approximately $3,073,000. Adams Asset Advisors LLC owned 0.06% of Rayonier as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. bought a new position in Rayonier during the second quarter valued at approximately $617,451,000. Cohen & Steers Inc. raised its stake in Rayonier by 5.6% during the 4th quarter. Cohen & Steers Inc. now owns 13,548,815 shares of the real estate investment trust's stock valued at $293,332,000 after buying an additional 717,021 shares during the last quarter. Legal & General Group Plc bought a new position in shares of Rayonier during the 2nd quarter valued at $213,574,000. Pictet Asset Management Holding SA lifted its holdings 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 buying an additional 1,463,118 shares during the period. Finally, Deprince Race & Zollo Inc. purchased a new position in shares of Rayonier in the 1st quarter worth $85,771,000. 89.12% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Rayonier

In other news, EVP Mark Bridwell sold 5,318 shares of Rayonier stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $20.19, for a total transaction of $107,370.42. Following the transaction, the executive vice president directly owned 131,661 shares of the company's stock, valued at $2,658,235.59. The trade was a 3.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 6,219 shares of company stock valued at $124,088 over the last 90 days. 0.85% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently commented on RYN shares. Citigroup cut their price objective on Rayonier from $23.00 to $19.00 and set a "neutral" rating for the company in a report on Monday. Seaport Research Partners reissued a "buy" rating and issued a $30.00 target price on shares of Rayonier in a research report on Thursday. Truist Financial cut their price target on Rayonier from $25.00 to $24.00 and set a "hold" rating for the company in a research note on Wednesday, July 15th. Finally, Weiss Ratings raised shares of Rayonier from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $24.00.

Rayonier Stock Performance

Shares of Rayonier stock traded up $0.56 on Thursday, hitting $18.55. 6,172,538 shares of the company's stock were exchanged, compared to its average volume of 3,017,186. The company has a 50-day simple moving average of $20.39 and a 200-day simple moving average of $20.80. The stock has a market capitalization of $5.52 billion, a PE ratio of 41.22 and a beta of 0.89. Rayonier Inc. has a 1 year low of $17.71 and a 1 year high of $26.75. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.91 and a current ratio of 3.56.

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

Rayonier Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were given a $0.26 dividend. The ex-dividend date was Wednesday, September 16th. This represents a $1.04 dividend on an annualized basis and a yield of 5.6%. Rayonier's dividend payout ratio is presently 231.11%.

About Rayonier

Rayonier Inc NYSE: RYN is a real estate investment trust that owns, leases and manages timberlands. The company generates revenue primarily from the sale of timber and logs, as well as from real estate transactions and leases involving its land holdings.

Rayonier's timber operations span the U.S. South, the Pacific Northwest and New Zealand. Its products include timber used in construction, packaging, paper and other wood-related applications. The company also pursues opportunities involving rural land, conservation, renewable energy and other alternative uses of its properties.

Founded in 1926, Rayonier has evolved from a forest-products company into a publicly traded timberland owner and manager.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.