Vanguard Group Inc. Has $550.18 Million Position in Rayonier Inc. $RYN

Vanguard Group Inc. lessened its stake in Rayonier Inc. (NYSE:RYN) by 1.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,730,289 shares of the real estate investment trust’s stock after selling 225,482 shares during the period. Vanguard Group Inc. owned about 0.13% of Rayonier worth $550,182,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of RYN. Allworth Financial LP boosted its position in Rayonier by 213.7% in the second quarter. Allworth Financial LP now owns 1,217 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 829 shares during the last quarter. Hartford Financial Management Inc. bought a new position in shares of Rayonier during the 3rd quarter valued at approximately $31,000. Caldwell Trust Co bought a new stake in shares of Rayonier in the 2nd quarter worth approximately $39,000. GAMMA Investing LLC raised its holdings in shares of Rayonier by 138.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,696 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 986 shares during the period. Finally, Blue Trust Inc. lifted its position in shares of Rayonier by 55.5% during the 3rd quarter. Blue Trust Inc. now owns 1,913 shares of the real estate investment trust’s stock valued at $51,000 after buying an additional 683 shares during the last quarter. 89.12% of the stock is owned by institutional investors.

Rayonier Price Performance

Shares of NYSE:RYN opened at $21.49 on Wednesday. The company has a quick ratio of 3.39, a current ratio of 3.26 and a debt-to-equity ratio of 0.38. The stock has a market cap of $3.47 billion, a PE ratio of 7.05 and a beta of 0.98. The company’s fifty day moving average is $22.70 and its 200 day moving average is $23.80. Rayonier Inc. has a 52 week low of $21.06 and a 52 week high of $28.31.

Rayonier (NYSE:RYN) last announced its quarterly earnings data on Wednesday, February 11th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08. Rayonier had a return on equity of 4.09% and a net margin of 97.94%.The firm had revenue of $117.50 million for the quarter, compared to analysts’ expectations of $108.71 million. During the same period last year, the firm earned $0.24 earnings per share. The company’s revenue for the quarter was down 24.4% compared to the same quarter last year. Research analysts anticipate that Rayonier Inc. will post 0.55 earnings per share for the current year.

Rayonier Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Tuesday, March 17th. Rayonier’s payout ratio is 35.74%.

Wall Street Analyst Weigh In

Several research firms have issued reports on RYN. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Rayonier in a report on Monday, December 29th. Royal Bank Of Canada lifted their price target on Rayonier from $25.00 to $26.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 17th. Citigroup decreased their price objective on shares of Rayonier from $27.00 to $24.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 12th. Raymond James Financial raised shares of Rayonier from an “outperform” rating to a “strong-buy” rating and raised their target price for the company from $26.00 to $28.00 in a research note on Friday, February 13th. Finally, Truist Financial dropped their target price on shares of Rayonier from $28.00 to $26.00 and set a “hold” rating for the company in a research report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $26.00.

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.