Norges Bank Acquires New Shares in Rayonier Inc. $RYN

Norges Bank acquired a new stake in shares of Rayonier Inc. (NYSE:RYN) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 14,494,525 shares of the real estate investment trust’s stock, valued at approximately $313,806,000. Norges Bank owned approximately 0.09% of Rayonier as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Rayonier during the 4th quarter valued at $34,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Rayonier by 65.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,581 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 627 shares during the period. Hartford Financial Management Inc. lifted its holdings in Rayonier by 49.7% during the 4th quarter. Hartford Financial Management Inc. now owns 1,732 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 575 shares during the period. Parallel Advisors LLC lifted its holdings in Rayonier by 77.9% during the 3rd quarter. Parallel Advisors LLC now owns 2,451 shares of the real estate investment trust’s stock worth $65,000 after buying an additional 1,073 shares during the period. Finally, Allworth Financial LP lifted its holdings in Rayonier by 134.8% during the 3rd quarter. Allworth Financial LP now owns 2,858 shares of the real estate investment trust’s stock worth $76,000 after buying an additional 1,641 shares during the period. Institutional investors and hedge funds own 89.12% of the company’s stock.

Insider Buying and Selling

In related 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 sale, the chief financial officer directly 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 at 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. 0.85% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

RYN has been the topic of several recent research reports. Truist Financial lifted 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. 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. BMO Capital Markets cut their target price on Rayonier from $26.00 to $25.00 and set a “market perform” rating on the stock in a report on Tuesday, May 19th. Raymond James Financial raised Rayonier from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $26.00 to $28.00 in a report on Friday, February 13th. Finally, Wall Street Zen raised Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, April 18th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Rayonier has a consensus rating of “Hold” and a consensus target price of $24.80.

Rayonier Stock Down 1.7%

Shares of NYSE:RYN opened at $20.55 on Tuesday. The company has a market capitalization of $6.18 billion, a price-to-earnings ratio of 6.80 and a beta of 0.88. 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 business’s 50-day moving average is $20.73 and its 200-day moving average is $21.64. Rayonier Inc. has a 1 year low of $19.49 and a 1 year high of $27.33.

Rayonier (NYSE:RYN) last announced its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. The company had revenue of $276.79 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.02) EPS. Equities research analysts predict that Rayonier Inc. will post 0.36 earnings per share for the current year.

Rayonier Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend is Tuesday, June 16th. Rayonier’s payout ratio is presently 34.44%.

Rayonier 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.