Swedbank AB Buys New Position in Rayonier Inc. $RYN

Key Points

• Swedbank AB opened a new position in Rayonier during the first quarter, buying 410,138 shares worth about $8.46 million. The stake represented roughly 0.14% of the company.
• Rayonier reported Q1 EPS of $0.07, edging past analyst expectations, while revenue came in slightly below forecasts at $276.79 million. Analysts currently expect the company to earn $0.36 per share for the full fiscal year.
• The company paid a quarterly dividend of $0.26 per share, equal to an annualized yield of about 4.9%. Rayonier also has a payout ratio of 34.44%, suggesting the dividend is covered by earnings.

Swedbank AB acquired a new stake in shares of Rayonier Inc. (NYSE:RYN - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 410,138 shares of the real estate investment trust's stock, valued at approximately $8,457,000. Swedbank AB owned approximately 0.14% of Rayonier as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Abel Hall LLC acquired a new stake in Rayonier in the 1st quarter worth approximately $516,000. Whittier Trust Co. increased its stake in Rayonier by 74.0% during the 1st quarter. Whittier Trust Co. now owns 2,279 shares of the real estate investment trust's stock valued at $47,000 after purchasing an additional 969 shares in the last quarter. Stephens Inc. AR purchased a new position in shares of Rayonier in the first quarter worth $812,000. QRG Capital Management Inc. purchased a new position in shares of Rayonier in the first quarter worth $1,801,000. Finally, World Investment Advisors acquired a new stake in shares of Rayonier during the first quarter worth $6,980,000. 89.12% of the stock is owned by hedge funds and other institutional investors.

Rayonier Stock Performance

Shares of RYN stock traded up $0.40 during trading hours on Friday, hitting $21.30. The company's stock had a trading volume of 1,419,361 shares, compared to its average volume of 2,435,095. The stock has a market cap of $6.40 billion, a PE ratio of 7.05 and a beta of 0.88. Rayonier Inc. has a 12-month low of $19.49 and a 12-month high of $27.33. The company has a 50 day moving average of $20.92 and a 200 day moving average of $21.53. The company has a current ratio of 2.53, a quick ratio of 2.21 and a debt-to-equity ratio of 0.35.

Rayonier (NYSE:RYN - Get Free Report) last issued its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01. The firm had revenue of $276.79 million during the quarter, compared to analysts' expectations of $280.92 million. Rayonier had a net margin of 68.61% and a return on equity of 3.61%. The firm's revenue was up 233.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.02) earnings per share. On average, sell-side analysts forecast that Rayonier Inc. will post 0.36 EPS for the current fiscal year.

Rayonier Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were paid a dividend of $0.26 per share. The ex-dividend date was Tuesday, June 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.9%. Rayonier's dividend payout ratio (DPR) is presently 34.44%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RYN. Citigroup dropped their price objective 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 price target on Rayonier in a research report on Thursday, April 16th. Wall Street Zen upgraded Rayonier from a "sell" rating to a "hold" rating in a research note on Saturday, April 18th. Truist Financial increased their price objective on Rayonier from $24.00 to $25.00 and gave the company a "hold" rating in a report on Monday, May 11th. Finally, Weiss Ratings cut Rayonier from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $24.80.

Insider Buying and Selling at Rayonier

In other news, CFO Wayne Wasechek sold 2,920 shares of the business's stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $21.17, for a total value of $61,816.40. Following the completion of the transaction, the chief financial officer owned 115,530 shares of the company's stock, valued at $2,445,770.10. The trade was a 2.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.85% of the company's stock.

Rayonier Company 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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