UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stock Holdings in Rayonier Inc. $RYN

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Rayonier Inc. (NYSE:RYN) by 5.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,358,814 shares of the real estate investment trust’s stock after buying an additional 76,021 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Rayonier were worth $28,916,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in RYN. Eurizon Capital SGR S.p.A. bought a new stake in shares of Rayonier during the fourth quarter valued at approximately $34,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Rayonier by 65.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,581 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 627 shares in the last quarter. Bayban bought a new stake in shares of Rayonier in the 1st quarter valued at approximately $36,000. Whittier Trust Co. raised its holdings in 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 buying an additional 969 shares during the period. Finally, North Star Investment Management Corp. bought a new stake in Rayonier in the first quarter worth $51,000. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on RYN shares. Citigroup lifted their price target on shares of Rayonier from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. BMO Capital Markets reduced their price objective on shares of Rayonier from $26.00 to $25.00 and set a “market perform” rating on the stock in a research report on Tuesday, May 19th. Truist Financial decreased their price objective on shares of Rayonier from $25.00 to $24.00 and set a “hold” rating for the company in a research note on Wednesday, July 15th. Finally, Weiss Ratings raised Rayonier from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, August 21st. One analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $24.80.

Rayonier Trading Up 0.1%

RYN opened at $20.25 on Friday. The company has a quick ratio of 2.91, a current ratio of 3.56 and a debt-to-equity ratio of 0.36. The stock’s fifty day moving average is $21.39 and its two-hundred day moving average is $21.15. The company has a market capitalization of $6.03 billion, a P/E ratio of 45.00 and a beta of 0.87. Rayonier Inc. has a 52 week low of $19.49 and a 52 week high of $27.06.

Rayonier (NYSE:RYN) last issued its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. Rayonier had a return on equity of 3.49% and a net margin of 7.83%.The business had revenue of $396.51 million during the quarter, compared to analysts’ expectations of $374.28 million. During the same period in the prior year, the business earned $0.06 EPS. The business’s revenue for the quarter was up 272.3% compared to the same quarter last year. Analysts forecast that Rayonier Inc. will post 0.44 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. Shareholders of record on Wednesday, September 16th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $1.04 dividend on an annualized basis and a yield of 5.1%. Rayonier’s dividend payout ratio (DPR) is 231.11%.

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.