Sanctuary Advisors LLC Makes New $2.22 Million Investment in Rayonier Inc. $RYN

Sanctuary Advisors LLC purchased a new position in shares of Rayonier Inc. (NYSE:RYN) in the first quarter, HoldingsChannel reports. The institutional investor purchased 107,630 shares of the real estate investment trust’s stock, valued at approximately $2,219,000.

Several other hedge funds also recently modified their holdings of RYN. Vanguard Group Inc. increased its position in Rayonier by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 21,174,792 shares of the real estate investment trust’s stock worth $458,434,000 after acquiring an additional 444,503 shares during the period. Norges Bank acquired a new position in Rayonier during the 4th quarter valued at $313,806,000. Cohen & Steers Inc. boosted its holdings in Rayonier by 5.6% in the 4th quarter. Cohen & Steers Inc. now owns 13,548,815 shares of the real estate investment trust’s stock valued at $293,332,000 after purchasing an additional 717,021 shares during the period. Fuller & Thaler Asset Management Inc. boosted its holdings in Rayonier by 232.2% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 5,647,156 shares of the real estate investment trust’s stock valued at $122,261,000 after purchasing an additional 3,947,226 shares during the period. Finally, Pictet Asset Management Holding SA grew its position in Rayonier by 42.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 4,925,463 shares of the real estate investment trust’s stock worth $101,563,000 after purchasing an additional 1,463,118 shares during the last quarter. 89.12% of the stock is owned by institutional investors.

Rayonier Stock Down 0.1%

Shares of RYN stock opened at $21.24 on Wednesday. Rayonier Inc. has a one year low of $19.49 and a one year high of $27.33. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.53 and a quick ratio of 2.21. The stock has a fifty day moving average price of $21.05 and a 200 day moving average price of $21.52. The stock has a market cap of $6.39 billion, a P/E ratio of 7.03 and a beta of 0.88.

Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. Rayonier had a net margin of 68.61% and a return on equity of 3.61%. The firm had revenue of $276.79 million for the quarter, compared to analyst estimates of $280.92 million. During the same quarter in the previous year, the firm posted ($0.02) EPS. The business’s revenue for the quarter was up 233.9% on a year-over-year basis. Analysts predict that Rayonier Inc. will post 0.36 earnings per share for the current year.

Rayonier Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Wednesday, September 16th. Rayonier’s payout ratio is 34.44%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RYN. Truist Financial dropped their price objective on shares of Rayonier from $25.00 to $24.00 and set a “hold” rating on the stock in a report on Wednesday, July 15th. BMO Capital Markets reduced their target price on shares of Rayonier from $26.00 to $25.00 and set a “market perform” rating for the company in a research note on Tuesday, May 19th. Wall Street Zen raised Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, April 18th. Citigroup decreased their target price on Rayonier from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. Finally, Royal Bank Of Canada set a $24.00 price target on Rayonier in a research note on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $24.60.

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.