Salvus Wealth Management LLC Acquires Shares of 32,880 Rayonier Inc. $RYN

Salvus Wealth Management LLC bought a new stake in Rayonier Inc. (NYSE:RYN) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 32,880 shares of the real estate investment trust’s stock, valued at approximately $700,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Eurizon Capital SGR S.p.A. acquired a new stake in Rayonier in the 4th quarter worth about $34,000. Northwestern Mutual Wealth Management Co. increased its stake in 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 worth $34,000 after buying an additional 627 shares in the last quarter. Bayban acquired a new position in shares of Rayonier during the first quarter valued at approximately $36,000. Whittier Trust Co. raised its holdings in shares of Rayonier by 74.0% during the first quarter. Whittier Trust Co. now owns 2,279 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 969 shares during the last quarter. Finally, Parallel Advisors LLC lifted its position in shares of Rayonier by 77.9% in the third quarter. Parallel Advisors LLC now owns 2,451 shares of the real estate investment trust’s stock valued at $65,000 after acquiring an additional 1,073 shares in the last quarter. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Wall Street Analysts Forecast Growth

RYN has been the topic of a number of research analyst reports. Royal Bank Of Canada set a $24.00 price target on Rayonier in a research note on Thursday, April 16th. Weiss Ratings reissued a “sell (d+)” rating on shares of Rayonier in a research note on Friday. Wall Street Zen upgraded Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, April 18th. Truist Financial lowered their target price on shares of Rayonier from $25.00 to $24.00 and set a “hold” rating on the stock in a research note on Wednesday, July 15th. Finally, Citigroup upped their target price on shares of Rayonier from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $24.80.

Rayonier Stock Down 0.7%

Shares of NYSE RYN opened at $21.64 on Tuesday. The company has a market capitalization of $6.51 billion, a P/E ratio of 48.09 and a beta of 0.87. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.56 and a quick ratio of 2.91. The company has a 50 day simple moving average of $21.43 and a 200-day simple moving average of $21.39. Rayonier Inc. has a 1 year low of $19.49 and a 1 year high of $27.33.

Rayonier (NYSE:RYN) last released its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.10 EPS for the quarter, meeting analysts’ consensus estimates of $0.10. The firm had revenue of $396.51 million for the quarter, compared to analysts’ expectations of $374.28 million. Rayonier had a return on equity of 3.49% and a net margin of 7.83%.The firm’s quarterly revenue was up 272.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.06 earnings per share. On average, equities research analysts predict that Rayonier Inc. will post 0.39 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 $0.26 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $1.04 dividend on an annualized basis and a yield of 4.8%. Rayonier’s payout ratio is currently 231.11%.

Rayonier 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.