Deutsche Bank AG Buys New Holdings in Rayonier Inc. $RYN

Deutsche Bank AG purchased a new position in Rayonier Inc. (NYSE:RYN) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 129,661 shares of the real estate investment trust’s stock, valued at approximately $2,759,000.

A number of other institutional investors also recently bought and sold shares of RYN. Vanguard Group Inc. grew its position in Rayonier by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 21,174,792 shares of the real estate investment trust’s stock worth $458,434,000 after purchasing an additional 444,503 shares during the period. Norges Bank acquired a new position in shares of Rayonier in the 4th quarter valued at about $313,806,000. Cohen & Steers Inc. boosted its stake 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 worth $293,332,000 after buying an additional 717,021 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in shares of 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 worth $122,261,000 after buying an additional 3,947,226 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its holdings in Rayonier by 42.3% during the first quarter. Pictet Asset Management Holding SA now owns 4,925,463 shares of the real estate investment trust’s stock worth $101,563,000 after acquiring an additional 1,463,118 shares during the period. 89.12% of the stock is owned by hedge funds and other institutional investors.

Rayonier Price Performance

Rayonier stock opened at $20.63 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.91 and a current ratio of 3.56. The company’s fifty day moving average price is $21.48 and its 200 day moving average price is $21.23. The stock has a market capitalization of $6.14 billion, a P/E ratio of 45.85 and a beta of 0.87. Rayonier Inc. has a 1 year low of $19.49 and a 1 year high of $27.06.

Rayonier (NYSE:RYN) last posted its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. Rayonier had a net margin of 7.83% and a return on equity of 3.49%. The business had revenue of $396.51 million for the quarter, compared to the consensus estimate of $374.28 million. During the same period last year, the firm posted $0.06 earnings per share. The company’s revenue was up 272.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Rayonier Inc. will post 0.44 earnings per share for the current fiscal 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 given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 5.0%. The ex-dividend date is Wednesday, September 16th. Rayonier’s dividend payout ratio is 231.11%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on RYN shares. Truist Financial lowered their price objective on Rayonier from $25.00 to $24.00 and set a “hold” rating on the stock in a research report on Wednesday, July 15th. Weiss Ratings raised shares of Rayonier from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, August 21st. BMO Capital Markets decreased their target price on shares of Rayonier from $26.00 to $25.00 and set a “market perform” rating for the company in a research note on Tuesday, May 19th. Finally, Citigroup increased their price target on shares of Rayonier from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus 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.