41,075 Shares in Rayonier Inc. $RYN Bought by Parvin Asset Management LLC

Parvin Asset Management LLC acquired a new position in shares of Rayonier Inc. (NYSE:RYN) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 41,075 shares of the real estate investment trust’s stock, valued at approximately $889,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RYN. Norges Bank acquired a new position in Rayonier during the fourth quarter worth $313,806,000. Fuller & Thaler Asset Management Inc. grew its holdings in Rayonier by 232.2% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,647,156 shares of the real estate investment trust’s stock valued at $122,261,000 after purchasing an additional 3,947,226 shares during the last quarter. Qube Research & Technologies Ltd grew its holdings in Rayonier by 1,088.2% in the second quarter. Qube Research & Technologies Ltd now owns 790,239 shares of the real estate investment trust’s stock valued at $17,528,000 after purchasing an additional 723,732 shares during the last quarter. Cohen & Steers Inc. increased its position in shares of Rayonier by 5.6% in the fourth quarter. Cohen & Steers Inc. now owns 13,548,815 shares of the real estate investment trust’s stock valued at $293,332,000 after buying an additional 717,021 shares in the last quarter. Finally, Gotham Asset Management LLC increased its position in shares of Rayonier by 246.6% in the third quarter. Gotham Asset Management LLC now owns 960,747 shares of the real estate investment trust’s stock valued at $25,498,000 after buying an additional 683,517 shares in the last quarter. Institutional investors and hedge funds own 89.12% of the company’s stock.

Rayonier Stock Down 1.0%

Shares of NYSE:RYN opened at $21.33 on Wednesday. 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 Inc. has a 52-week low of $19.49 and a 52-week high of $27.33. The stock’s fifty day simple moving average is $20.87 and its 200-day simple moving average is $21.59. The company has a market capitalization of $6.42 billion, a P/E ratio of 7.06 and a beta of 0.88.

Rayonier (NYSE:RYN) last issued its quarterly earnings data 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 business had revenue of $276.79 million for the quarter, compared to the consensus estimate of $280.92 million. During the same period in the prior year, the business earned ($0.02) earnings per share. The business’s revenue was up 233.9% on a year-over-year basis. As a group, equities research analysts forecast that Rayonier Inc. will post 0.36 earnings per share for the current fiscal year.

Rayonier Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Tuesday, June 16th. Rayonier’s dividend payout ratio is currently 34.44%.

Insider Activity

In other news, CFO Wayne Wasechek sold 2,920 shares of the company’s stock in a transaction on Monday, April 20th. The stock was sold at an average price of $21.17, for a total value of $61,816.40. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, 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. 0.85% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Royal Bank Of Canada set a $24.00 price target on Rayonier in a research note on Thursday, April 16th. Citigroup cut their price target on Rayonier from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Wall Street Zen raised Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, April 18th. Weiss Ratings downgraded Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. Finally, Truist Financial lifted their price target on Rayonier from $24.00 to $25.00 and gave the stock a “hold” rating in a research note on Monday, May 11th. One research 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 stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $24.80.

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.