Waverly Advisors LLC Has $1.81 Million Holdings in Rayonier Inc. $RYN

Key Points

• Waverly Advisors increased its Rayonier stake by 287.8% in the first quarter, holding 87,780 shares worth approximately $1.81 million. Institutional investors collectively own 89.12% of the company.
• Rayonier reported quarterly EPS of $0.07, exceeding estimates by $0.01, while revenue rose 233.9% year over year to $276.79 million. The company declared a quarterly dividend of $0.26 per share, representing a 4.9% annualized yield.
• Analyst sentiment remains mixed but centers on a “Hold” rating, with one Strong Buy, four Holds and one Sell; the average price target is $24.60 versus a recent share price of $21.39.

Waverly Advisors LLC grew its holdings in shares of Rayonier Inc. (NYSE:RYN - Free Report) by 287.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 87,780 shares of the real estate investment trust's stock after buying an additional 65,142 shares during the period. Waverly Advisors LLC's holdings in Rayonier were worth $1,810,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Royal Bank of Canada boosted its stake in Rayonier by 29.6% during the first quarter. Royal Bank of Canada now owns 159,116 shares of the real estate investment trust's stock worth $4,436,000 after acquiring an additional 36,344 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Rayonier during the first quarter valued at about $501,000. United Services Automobile Association acquired a new position in shares of Rayonier during the first quarter valued at about $250,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Rayonier by 30.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 554,628 shares of the real estate investment trust's stock valued at $15,463,000 after buying an additional 130,985 shares during the period. Finally, Invesco Ltd. increased its position in Rayonier by 16.9% in the 2nd quarter. Invesco Ltd. now owns 863,707 shares of the real estate investment trust's stock valued at $19,157,000 after buying an additional 124,574 shares in the last quarter. Institutional investors and hedge funds own 89.12% of the company's stock.

Rayonier Stock Performance

Shares of Rayonier stock opened at $21.39 on Friday. The company has a market cap of $6.43 billion, a PE ratio of 7.08 and a beta of 0.88. Rayonier Inc. has a 52 week low of $19.49 and a 52 week high of $27.33. The business has a 50 day moving average price of $21.28 and a 200-day moving average price of $21.50. The company has a quick ratio of 2.21, a current ratio of 2.53 and a debt-to-equity ratio of 0.35.

Rayonier (NYSE:RYN - Get Free Report) last announced its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. Rayonier had a return on equity of 3.61% and a net margin of 68.61%.The company had revenue of $276.79 million for the quarter, compared to analysts' expectations of $280.92 million. During the same quarter in the previous year, the firm earned ($0.02) earnings per share. Rayonier's quarterly revenue was up 233.9% on a year-over-year basis. Equities analysts anticipate that Rayonier Inc. will post 0.4 earnings per share for the current fiscal year.

Rayonier Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend is Wednesday, September 16th. Rayonier's payout ratio is currently 34.44%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on RYN shares. Royal Bank Of Canada set a $24.00 price target on Rayonier in a report on Thursday, April 16th. Wall Street Zen upgraded Rayonier from a "sell" rating to a "hold" rating in a report on Saturday, April 18th. BMO Capital Markets lowered their target price on Rayonier from $26.00 to $25.00 and set a "market perform" rating on the stock in a research report on Tuesday, May 19th. Citigroup cut their target price on Rayonier from $24.00 to $22.00 and set a "neutral" rating on the stock in a report on Wednesday, May 13th. Finally, Weiss Ratings downgraded shares of Rayonier from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $24.60.

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.

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.