Oppenheimer Asset Management Inc. Purchases New Shares in Rayonier Inc. $RYN

Oppenheimer Asset Management Inc. purchased a new position in shares of Rayonier Inc. (NYSE:RYN) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 46,381 shares of the real estate investment trust’s stock, valued at approximately $987,000.

Other institutional investors have also added to or reduced their stakes in the company. Eurizon Capital SGR S.p.A. purchased a new stake in Rayonier in the 4th quarter valued at about $34,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of 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 in the last quarter. Bayban purchased a new position in shares of Rayonier in the 1st quarter worth approximately $36,000. Whittier Trust Co. boosted its stake in shares of Rayonier by 74.0% in the 1st quarter. Whittier Trust Co. now owns 2,279 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 969 shares during the last quarter. Finally, North Star Investment Management Corp. purchased a new position in shares of Rayonier in the 1st quarter worth approximately $51,000. 89.12% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. BMO Capital Markets reduced their target price on Rayonier from $26.00 to $25.00 and set a “market perform” rating for the company in a report on Tuesday, May 19th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Rayonier in a report on Friday, August 7th. Citigroup boosted their price objective on Rayonier from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Finally, Truist Financial reduced their price objective on Rayonier from $25.00 to $24.00 and set a “hold” rating for the company in a research note on Wednesday, July 15th. One 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 MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $24.80.

Rayonier Stock Performance

NYSE RYN opened at $21.55 on Monday. The company has a market capitalization of $6.41 billion, a PE ratio of 47.90 and a beta of 0.87. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.91 and a current ratio of 3.56. Rayonier Inc. has a 52-week low of $19.49 and a 52-week high of $27.33. The company has a 50-day simple moving average of $21.47 and a 200 day simple moving average of $21.32.

Rayonier (NYSE:RYN) last released its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.10 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.10. Rayonier had a net margin of 7.83% and a return on equity of 3.49%. The firm had revenue of $396.51 million for the quarter, compared to analysts’ expectations of $374.28 million. During the same period in the previous year, the company earned $0.06 earnings per share. The company’s quarterly revenue was up 272.3% on a year-over-year basis. On average, research analysts predict that Rayonier Inc. will post 0.42 EPS for the current year.

Rayonier Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend is Wednesday, September 16th. Rayonier’s payout ratio is 231.11%.

About Rayonier

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.