Comprehensive Money Management Services LLC Invests $1.81 Million in Rayonier Inc. $RYN

Comprehensive Money Management Services LLC purchased a new stake in shares of Rayonier Inc. (NYSE:RYN) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 85,187 shares of the real estate investment trust’s stock, valued at approximately $1,813,000. Rayonier accounts for 1.1% of Comprehensive Money Management Services LLC’s holdings, making the stock its 19th biggest position.

Other institutional investors also recently bought and sold shares of the company. Bank of America Corp DE grew its stake in Rayonier by 141.8% in the 1st quarter. Bank of America Corp DE now owns 1,620,769 shares of the real estate investment trust’s stock valued at $33,420,000 after acquiring an additional 950,473 shares during the period. UBS Group AG grew its stake in Rayonier by 882.5% during the 4th quarter. UBS Group AG now owns 496,024 shares of the real estate investment trust’s stock valued at $10,739,000 after acquiring an additional 445,538 shares in the last quarter. Fieldview Capital Management LLC purchased a new stake in shares of Rayonier in the fourth quarter valued at approximately $1,936,000. World Investment Advisors purchased a new stake in Rayonier in the 1st quarter valued at $6,980,000. Finally, Vestcor Inc grew its holdings in shares of Rayonier by 3,590.1% in the fourth quarter. Vestcor Inc now owns 128,231 shares of the real estate investment trust’s stock valued at $2,776,000 after purchasing an additional 124,756 shares during the period. 89.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RYN. Truist Financial cut their target price on Rayonier from $25.00 to $24.00 and set a “hold” rating for the company in a research note on Wednesday, July 15th. Weiss Ratings raised shares of Rayonier from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, August 21st. Citigroup lifted their price objective on Rayonier from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Finally, BMO Capital Markets decreased their price objective on shares of Rayonier from $26.00 to $25.00 and set a “market perform” rating for the company in a research report on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $24.80.

Rayonier Price Performance

Shares of RYN opened at $20.63 on Friday. Rayonier Inc. has a fifty-two week low of $19.49 and a fifty-two week high of $27.06. The firm has a 50-day simple moving average of $21.48 and a 200-day simple moving average of $21.23. 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 has a market capitalization of $6.14 billion, a price-to-earnings ratio of 45.85 and a beta of 0.87.

Rayonier (NYSE:RYN) last released its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.10. The business had revenue of $396.51 million for the quarter, compared to analyst estimates of $374.28 million. Rayonier had a return on equity of 3.49% and a net margin of 7.83%.The company’s revenue for the quarter was up 272.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 earnings per share. On average, equities research analysts anticipate that Rayonier Inc. will post 0.44 earnings per share for the current year.

Rayonier Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders 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 yield of 5.0%. The ex-dividend date of this dividend is Wednesday, September 16th. Rayonier’s payout ratio is currently 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.