Rayonier Inc. $RYN Shares Purchased by Nordea Investment Management AB

Key Points

• Nordea Investment Management AB increased its stake in Rayonier Inc. by 17.2%, owning 225,389 shares valued at approximately $4.96 million following a purchase of 33,071 shares in the second quarter.
• Rayonier has announced a quarterly dividend of $0.2725, set to be distributed on December 31st, representing an annual yield of 4.4%.
• Rayonier recently reported earnings of $0.06 per share, exceeding analyst expectations, with revenue of $106.50 million for the quarter, up 6.9% year-over-year.

Nordea Investment Management AB raised its stake in shares of Rayonier Inc. (NYSE:RYN - Free Report) by 17.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 225,389 shares of the real estate investment trust's stock after buying an additional 33,071 shares during the quarter. Nordea Investment Management AB owned about 0.14% of Rayonier worth $4,959,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Rayonier by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 20,862,953 shares of the real estate investment trust's stock valued at $581,659,000 after buying an additional 456,363 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Rayonier by 30.0% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,203,552 shares of the real estate investment trust's stock worth $117,195,000 after purchasing an additional 971,167 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Rayonier by 4.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,607,211 shares of the real estate investment trust's stock worth $72,689,000 after purchasing an additional 118,409 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Rayonier by 13.8% during the 1st quarter. Victory Capital Management Inc. now owns 2,515,298 shares of the real estate investment trust's stock worth $70,127,000 after purchasing an additional 304,803 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Rayonier by 2.5% during the 1st quarter. Northern Trust Corp now owns 1,582,227 shares of the real estate investment trust's stock worth $44,112,000 after purchasing an additional 38,704 shares during the period. Institutional investors and hedge funds own 89.12% of the company's stock.

Rayonier Trading Up 0.6%

Shares of RYN opened at $24.71 on Wednesday. The company has a current ratio of 3.50, a quick ratio of 3.38 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $3.81 billion, a P/E ratio of 4.99 and a beta of 0.99. The stock's fifty day simple moving average is $26.12 and its 200 day simple moving average is $24.59. Rayonier Inc. has a twelve month low of $21.84 and a twelve month high of $32.88.

Rayonier (NYSE:RYN - Get Free Report) last issued its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.03. The business 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%.The business's quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the company posted $0.02 EPS. On average, equities research analysts forecast that Rayonier Inc. will post 0.55 earnings per share for the current year.

Rayonier Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th will be given a $0.2725 dividend. The ex-dividend date of this dividend is Wednesday, December 10th. This represents a $1.09 annualized dividend and a yield of 4.4%. Rayonier's dividend payout ratio (DPR) is 22.02%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RYN. Citigroup increased their price target on Rayonier from $26.00 to $27.00 and gave the stock a "neutral" rating in a research note on Thursday, August 21st. Royal Bank Of Canada increased their price target on Rayonier from $26.00 to $27.00 and gave the stock a "sector perform" rating in a research note on Friday, August 8th. Wall Street Zen raised Rayonier from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Rayonier in a research note on Tuesday, October 14th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $28.00.

About Rayonier

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.

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