Rayonier Inc. $RYN Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its stake in shares of Rayonier Inc. (NYSE:RYN) by 5.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 3,639,113 shares of the real estate investment trust’s stock after selling 206,694 shares during the period. Pictet Asset Management Holding SA’s holdings in Rayonier were worth $66,814,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Corient Private Wealth LP boosted its holdings in Rayonier by 731.4% during the second quarter. Corient Private Wealth LP now owns 94,839 shares of the real estate investment trust’s stock worth $2,018,000 after purchasing an additional 83,432 shares during the last quarter. Bank of America Corp DE grew its position 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 worth $33,420,000 after purchasing an additional 950,473 shares in the last quarter. Adams Asset Advisors LLC purchased a new stake in Rayonier in the 3rd quarter valued at about $3,073,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Rayonier by 5.9% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,358,814 shares of the real estate investment trust’s stock valued at $28,916,000 after buying an additional 76,021 shares during the last quarter. Finally, BlackRock Inc. purchased a new stake in Rayonier in the 2nd quarter valued at about $617,451,000. 89.12% of the stock is currently owned by institutional investors.

Insider Activity at Rayonier

In other Rayonier news, EVP Mark Bridwell sold 5,318 shares of the stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $20.19, for a total transaction of $107,370.42. Following the completion of the transaction, the executive vice president directly owned 131,661 shares of the company’s stock, valued at approximately $2,658,235.59. This represents a 3.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders have sold 6,219 shares of company stock valued at $124,088. Insiders own 0.85% of the company’s stock.

Rayonier Price Performance

RYN opened at $21.79 on Tuesday. Rayonier Inc. has a fifty-two week low of $17.71 and a fifty-two week high of $24.82. The firm has a 50-day moving average of $19.50 and a 200 day moving average of $20.88. 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 firm has a market cap of $6.48 billion, a P/E ratio of 37.57 and a beta of 0.88.

Rayonier (NYSE:RYN) last released its earnings results on Wednesday, November 4th. The real estate investment trust reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. Rayonier had a net margin of 11.49% and a return on equity of 2.85%. The firm had revenue of $565.57 million for the quarter, compared to analysts’ expectations of $406.98 million. During the same period in the previous year, the company earned $0.32 earnings per share. The company’s quarterly revenue was up 218.6% on a year-over-year basis. On average, research analysts expect 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 Thursday, December 31st. Investors of record on Thursday, December 17th 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 Thursday, December 17th. Rayonier’s payout ratio is 179.31%.

Wall Street Analysts Forecast Growth

Several research firms have commented on RYN. Seaport Research Partners reissued a “buy” rating and set a $30.00 target price on shares of Rayonier in a research report on Thursday, October 8th. Weiss Ratings lowered Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, November 4th. Truist Financial reduced their target price on Rayonier from $24.00 to $22.00 and set a “hold” rating for the company in a report on Monday, October 12th. Citigroup increased their price target on Rayonier from $19.00 to $23.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Royal Bank Of Canada lifted their price target on Rayonier from $20.00 to $22.00 and gave the stock a “sector perform” rating in a report on Friday. One equities 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 stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $24.00.

Rayonier Profile

Rayonier is a real estate investment trust focused on owning and managing timberlands in the United States. Its portfolio includes forestland in the U.S. South and Pacific Northwest, where the company grows and harvests timber.

The company sells logs and other wood products to customers in industries such as lumber, pulp and paper. It also generates revenue by selling land for uses including real estate development, recreation and conservation.

Rayonier traces its roots to 1926, when Rainier Pulp and Paper Company was established in Washington state.