Waverly Advisors LLC Purchases 65,142 Shares of Rayonier Inc. $RYN

Waverly Advisors LLC lifted its holdings in Rayonier Inc. (NYSE:RYN) by 287.8% during the first quarter, Holdings Channel.com reports. The institutional investor owned 87,780 shares of the real estate investment trust’s stock after acquiring an additional 65,142 shares during the quarter. Waverly Advisors LLC’s holdings in Rayonier were worth $1,810,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Eurizon Capital SGR S.p.A. bought a new stake in Rayonier during the fourth quarter worth $34,000. Northwestern Mutual Wealth Management Co. boosted its position in Rayonier by 65.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,581 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 627 shares during the last quarter. Bayban bought a new position in Rayonier in the 1st quarter valued at $36,000. Hartford Financial Management Inc. increased its position in shares of Rayonier by 49.7% during the 4th quarter. Hartford Financial Management Inc. now owns 1,732 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 575 shares during the last quarter. Finally, Whittier Trust Co. increased its position in shares of Rayonier by 74.0% during the 1st quarter. Whittier Trust Co. now owns 2,279 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 969 shares during the last quarter. 89.12% of the stock is owned by institutional investors.

Analyst Ratings Changes

RYN has been the topic of a number of research analyst reports. Weiss Ratings downgraded shares of Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, May 12th. BMO Capital Markets decreased their price objective on shares of Rayonier from $26.00 to $25.00 and set a “market perform” rating for the company in a report on Tuesday, May 19th. Truist Financial lowered their price objective on shares of Rayonier from $25.00 to $24.00 and set a “hold” rating on the stock in a research report on Wednesday, July 15th. Citigroup dropped their target price on shares of Rayonier from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. Finally, Royal Bank Of Canada set a $24.00 target price on shares of Rayonier in a research report on Thursday, April 16th. One investment 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 company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $24.60.

Rayonier Price Performance

NYSE RYN opened at $21.39 on Friday. The company has a quick ratio of 2.21, a current ratio of 2.53 and a debt-to-equity ratio of 0.35. The company has a market cap of $6.43 billion, a PE ratio of 7.08 and a beta of 0.88. Rayonier Inc. has a 52 week low of $19.49 and a 52 week high of $27.33. The firm’s 50-day simple moving average is $21.28 and its two-hundred day simple moving average is $21.50.

Rayonier (NYSE:RYN) last posted its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.07 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $280.92 million. During the same quarter last year, the company earned ($0.02) earnings per share. The company’s revenue was up 233.9% on a year-over-year basis. Research analysts predict that Rayonier Inc. will post 0.4 earnings per share for the current year.

Rayonier Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Wednesday, September 16th. Rayonier’s payout ratio is currently 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.