World Investment Advisors purchased a new stake in Rayonier Inc. (NYSE:RYN - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 338,514 shares of the real estate investment trust's stock, valued at approximately $6,980,000. World Investment Advisors owned approximately 0.11% of Rayonier at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. UBS Group AG boosted its position in Rayonier by 882.5% in the fourth quarter. UBS Group AG now owns 496,024 shares of the real estate investment trust's stock valued at $10,739,000 after buying an additional 445,538 shares in the last quarter. Fieldview Capital Management LLC acquired a new position in shares of Rayonier during the fourth quarter worth $1,936,000. JPMorgan Chase & Co. increased its holdings in shares of Rayonier by 2.5% during the third quarter. JPMorgan Chase & Co. now owns 3,782,342 shares of the real estate investment trust's stock worth $100,383,000 after buying an additional 94,033 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of Rayonier by 61.3% during the fourth quarter. HighTower Advisors LLC now owns 139,706 shares of the real estate investment trust's stock worth $3,025,000 after buying an additional 53,087 shares in the last quarter. Finally, Vestcor Inc lifted its stake in shares of Rayonier by 3,590.1% in the 4th quarter. Vestcor Inc now owns 128,231 shares of the real estate investment trust's stock valued at $2,776,000 after acquiring an additional 124,756 shares during the last quarter. 89.12% of the stock is owned by institutional investors.
Rayonier Price Performance
Rayonier stock opened at $21.44 on Friday. The stock's 50 day moving average is $20.92 and its 200 day moving average is $21.55. 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 firm has a market cap of $6.45 billion, a P/E ratio of 7.10 and a beta of 0.88. Rayonier Inc. has a one year low of $19.49 and a one year high of $27.33.
Rayonier (NYSE:RYN - Get Free Report) last announced its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.07 EPS for the quarter, beating the consensus estimate of $0.06 by $0.01. The business had revenue of $276.79 million for the quarter, compared to analysts' expectations of $280.92 million. Rayonier had a return on equity of 3.61% and a net margin of 68.61%.The firm's revenue was up 233.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.02) earnings per share. As a group, research analysts expect that Rayonier Inc. will post 0.36 EPS for the current year.
Rayonier Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend was Tuesday, June 16th. Rayonier's dividend payout ratio is currently 34.44%.
Insider Activity at Rayonier
In other news, CFO Wayne Wasechek sold 2,920 shares of the stock in a transaction on Monday, April 20th. The shares were sold at an average price of $21.17, for a total transaction of $61,816.40. Following the completion of the sale, the chief financial officer directly owned 115,530 shares in the company, valued at $2,445,770.10. This represents a 2.47% decrease in their ownership of the stock. The transaction 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. Corporate insiders own 0.85% of the company's stock.
Analyst Ratings Changes
Several equities research analysts recently weighed in on RYN shares. Citigroup cut their price objective on Rayonier from $24.00 to $22.00 and set a "neutral" rating on the stock in a report on Wednesday, May 13th. Truist Financial upped their target price on Rayonier from $24.00 to $25.00 and gave the stock a "hold" rating in a report on Monday, May 11th. Royal Bank Of Canada set a $24.00 target price on Rayonier in a research report on Thursday, April 16th. BMO Capital Markets cut their price target on Rayonier from $26.00 to $25.00 and set a "market perform" rating on the stock in a research note on Tuesday, May 19th. Finally, Weiss Ratings cut Rayonier from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Rayonier presently has a consensus rating of "Hold" and an average target price of $24.80.
Check Out Our Latest Research Report on RYN
Rayonier Profile
(
Free Report)
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.
See Also
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.
Before you consider Rayonier, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Rayonier wasn't on the list.
While Rayonier currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The space race is growing fast, and you don’t have to have gotten in early on SpaceX to profit. This report shows seven space stocks you can buy today that may grow as rockets, satellites, defense, space internet, and new space technology become more important.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
