Rayonier Inc. (NYSE:RYN) Shares Purchased by Nisa Investment Advisors LLC

Posted by Defense World Staff on Jul 28th, 2023

Nisa Investment Advisors LLC increased its stake in shares of Rayonier Inc. (NYSE:RYN – Free Report) by 4.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,365 shares of the real estate investment trust’s stock after purchasing an additional 3,940 shares during the quarter. Nisa Investment Advisors LLC owned 0.07% of Rayonier worth $3,305,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of RYN. Ronald Blue Trust Inc. boosted its position in shares of Rayonier by 50.3% during the 4th quarter. Ronald Blue Trust Inc. now owns 938 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 314 shares in the last quarter. CWM LLC boosted its position in shares of Rayonier by 246.5% during the 1st quarter. CWM LLC now owns 1,594 shares of the real estate investment trust’s stock worth $53,000 after acquiring an additional 1,134 shares in the last quarter. Belpointe Asset Management LLC acquired a new position in shares of Rayonier during the 4th quarter worth about $73,000. International Assets Investment Management LLC acquired a new position in shares of Rayonier during the 1st quarter worth about $81,000. Finally, Point72 Middle East FZE acquired a new position in shares of Rayonier during the 4th quarter worth about $82,000. 81.93% of the stock is owned by institutional investors and hedge funds.

Rayonier Stock Down 1.2 %

Shares of NYSE RYN opened at $32.53 on Friday. The business has a 50-day moving average price of $30.45 and a 200 day moving average price of $32.27. The company has a quick ratio of 1.62, a current ratio of 1.94 and a debt-to-equity ratio of 0.82. The stock has a market cap of $4.82 billion, a PE ratio of 56.09 and a beta of 0.97. Rayonier Inc. has a 52-week low of $27.81 and a 52-week high of $38.47.

Rayonier (NYSE:RYN – Get Free Report) last posted its quarterly earnings data on Wednesday, May 3rd. The real estate investment trust reported $0.01 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.07). The company had revenue of $179.10 million for the quarter, compared to analysts’ expectations of $210.13 million. Rayonier had a net margin of 9.94% and a return on equity of 3.44%. The firm’s revenue was down 19.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.20 earnings per share. Equities research analysts forecast that Rayonier Inc. will post 0.36 earnings per share for the current year.

Rayonier Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.50%. The ex-dividend date is Thursday, September 14th. Rayonier’s dividend payout ratio is presently 196.55%.

Wall Street Analysts Forecast Growth

RYN has been the subject of several analyst reports. Truist Financial initiated coverage on Rayonier in a research report on Monday, May 15th. They set a “hold” rating and a $33.00 price objective for the company. Citigroup decreased their target price on Rayonier from $39.00 to $36.00 and set a “neutral” rating for the company in a research report on Thursday, April 6th. StockNews.com cut Rayonier from a “hold” rating to a “sell” rating in a research report on Thursday. TheStreet cut Rayonier from a “b-” rating to a “c+” rating in a research report on Thursday, May 11th. Finally, 51job reissued a “reiterates” rating on shares of Rayonier in a research report on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating and two have issued a hold rating to the company. According to data from MarketBeat, Rayonier presently has a consensus rating of “Hold” and an average price target of $34.50.

About Rayonier

(Free Report)

Rayonier is a leading timberland real estate investment trust with assets located in some of the most productive softwood timber growing regions in the United States and New Zealand. As of March 31, 2023, Rayonier owned or leased under long-term agreements approximately 2.8 million acres of timberlands located in the U.S.