Rayonier Inc. (NYSE:RYN) Shares Bought by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Posted by Defense World Staff on Aug 18th, 2023

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Rayonier Inc. (NYSE:RYN – Free Report) by 0.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 66,337 shares of the real estate investment trust’s stock after acquiring an additional 467 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Rayonier were worth $2,206,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in RYN. CWM LLC lifted its stake in shares of Rayonier by 246.5% in 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 during the period. Belpointe Asset Management LLC bought a new stake in shares of Rayonier in the 4th quarter worth approximately $73,000. International Assets Investment Management LLC bought a new stake in shares of Rayonier in the 1st quarter worth approximately $81,000. Point72 Middle East FZE bought a new stake in shares of Rayonier in the 4th quarter worth approximately $82,000. Finally, National Bank of Canada FI raised its holdings in shares of Rayonier by 57.8% in the 1st quarter. National Bank of Canada FI now owns 2,635 shares of the real estate investment trust’s stock worth $88,000 after purchasing an additional 965 shares in the last quarter. 81.93% of the stock is owned by institutional investors and hedge funds.

Rayonier Stock Down 0.8 %

Rayonier stock opened at $30.34 on Friday. The firm has a market cap of $4.50 billion, a PE ratio of 55.16 and a beta of 0.99. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.61 and a current ratio of 1.92. The firm’s 50 day moving average price is $31.30 and its two-hundred day moving average price is $31.96. Rayonier Inc. has a twelve month low of $27.81 and a twelve month high of $38.23.

Rayonier (NYSE:RYN – Get Free Report) last released its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.04). The company had revenue of $208.90 million during the quarter, compared to analyst estimates of $210.18 million. Rayonier had a net margin of 9.77% and a return on equity of 2.55%. The firm’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.16 EPS. On average, research analysts predict that Rayonier Inc. will post 0.35 EPS for the current fiscal 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 $0.285 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.14 annualized dividend and a yield of 3.76%. Rayonier’s dividend payout ratio is presently 207.27%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Truist Financial assumed coverage on shares of Rayonier in a report on Monday, May 15th. They issued a “hold” rating and a $33.00 target price on the stock. 51job restated a “reiterates” rating on shares of Rayonier in a report on Wednesday, June 28th. StockNews.com assumed coverage on shares of Rayonier in a report on Thursday. They set a “hold” rating on the stock. Finally, TheStreet lowered shares of Rayonier from a “b-” rating to a “c+” rating in a report on Thursday, May 11th. Three equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $34.50.

Get Our Latest Analysis on Rayonier

Rayonier Company Profile

(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.