Swedbank AB Takes Position in Rayonier Inc. $RYN

Swedbank AB bought a new stake in Rayonier Inc. (NYSE:RYN) in the 1st quarter, HoldingsChannel.com reports. The firm bought 410,138 shares of the real estate investment trust’s stock, valued at approximately $8,457,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada grew its position in Rayonier by 29.6% during the first quarter. Royal Bank of Canada now owns 159,116 shares of the real estate investment trust’s stock valued at $4,436,000 after buying an additional 36,344 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in shares of Rayonier during the 1st quarter worth about $501,000. United Services Automobile Association purchased a new stake in shares of Rayonier during the 1st quarter worth about $250,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Rayonier by 30.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 554,628 shares of the real estate investment trust’s stock valued at $15,463,000 after acquiring an additional 130,985 shares during the period. Finally, Invesco Ltd. grew its position in shares of Rayonier by 16.9% during the 2nd quarter. Invesco Ltd. now owns 863,707 shares of the real estate investment trust’s stock valued at $19,157,000 after acquiring an additional 124,574 shares during the period. 89.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Wall Street Zen raised Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, April 18th. Truist Financial upped their target price on Rayonier from $24.00 to $25.00 and gave the stock a “hold” rating in a research note on Monday, May 11th. Royal Bank Of Canada set a $24.00 target price on Rayonier in a research report on Thursday, April 16th. Weiss Ratings cut shares of Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. Finally, Citigroup decreased their price objective on shares of Rayonier from $24.00 to $22.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Rayonier presently has a consensus rating of “Hold” and an average target price of $24.80.

Insiders Place Their Bets

In other Rayonier news, CFO Wayne Wasechek sold 2,920 shares of Rayonier stock in a transaction on Monday, April 20th. The shares were sold at an average price of $21.17, for a total transaction of $61,816.40. Following the sale, the chief financial officer owned 115,530 shares of the company’s stock, valued at $2,445,770.10. The trade was a 2.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.85% of the company’s stock.

Rayonier Price Performance

NYSE:RYN traded up $0.40 during trading hours on Friday, hitting $21.30. 1,419,361 shares of the stock were exchanged, compared to its average volume of 2,435,095. The firm’s fifty day moving average price is $20.92 and its 200 day moving average price is $21.53. Rayonier Inc. has a 52-week low of $19.49 and a 52-week high of $27.33. The company has a market cap of $6.40 billion, a P/E ratio of 7.05 and a beta of 0.88. The company has a current ratio of 2.53, a quick ratio of 2.21 and a debt-to-equity ratio of 0.35.

Rayonier (NYSE:RYN) last released its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.01. The business had revenue of $276.79 million for the quarter, compared to the consensus estimate of $280.92 million. Rayonier had a return on equity of 3.61% and a net margin of 68.61%.The business’s quarterly revenue was up 233.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.02) earnings per share. As a group, equities research analysts anticipate that Rayonier Inc. will post 0.36 EPS for the current fiscal year.

Rayonier Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were issued a $0.26 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $1.04 dividend on an annualized basis and a yield of 4.9%. Rayonier’s dividend payout ratio (DPR) is presently 34.44%.

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.