391,855 Shares in Rayonier Inc. $RYN Bought by Columbus Macro LLC

Columbus Macro LLC bought a new position in shares of Rayonier Inc. (NYSE:RYN) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 391,855 shares of the real estate investment trust’s stock, valued at approximately $8,080,000. Columbus Macro LLC owned approximately 0.13% of Rayonier at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Rayonier during the fourth quarter worth about $34,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Rayonier by 65.7% in 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 purchasing an additional 627 shares during the period. Hartford Financial Management Inc. increased its stake in 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 worth $37,000 after purchasing an additional 575 shares in the last quarter. Quarry LP increased its stake in Rayonier by 19.8% during the 4th quarter. Quarry LP now owns 3,012 shares of the real estate investment trust’s stock worth $65,000 after purchasing an additional 498 shares in the last quarter. Finally, Parallel Advisors LLC raised its holdings in Rayonier by 77.9% during the 3rd quarter. Parallel Advisors LLC now owns 2,451 shares of the real estate investment trust’s stock worth $65,000 after buying an additional 1,073 shares during the period. 89.12% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Royal Bank Of Canada set a $24.00 price target on shares of Rayonier in a report on Thursday, April 16th. BMO Capital Markets cut 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. Citigroup cut their price objective on shares of Rayonier from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. Wall Street Zen upgraded Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, April 18th. Finally, Truist Financial lifted their price target on Rayonier from $24.00 to $25.00 and gave the company a “hold” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $24.80.

Rayonier Trading Up 0.8%

NYSE:RYN opened at $21.86 on Friday. Rayonier Inc. has a twelve month low of $19.49 and a twelve month high of $27.33. 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 business has a 50 day moving average price of $20.87 and a two-hundred day moving average price of $21.57. The company has a market cap of $6.57 billion, a P/E ratio of 7.24 and a beta of 0.88.

Rayonier (NYSE:RYN) last issued its quarterly 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. The company had revenue of $276.79 million during the quarter, compared to analysts’ expectations of $280.92 million. Rayonier had a net margin of 68.61% and a return on equity of 3.61%. The business’s quarterly revenue was up 233.9% on a year-over-year basis. During the same period last year, the business earned ($0.02) EPS. As a group, analysts expect that Rayonier Inc. will post 0.36 EPS for the current fiscal year.

Rayonier Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be given a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $1.04 dividend on an annualized basis and a yield of 4.8%. Rayonier’s dividend payout ratio (DPR) is 34.44%.

Insider Transactions at Rayonier

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 value of $61,816.40. Following the sale, the chief financial officer directly owned 115,530 shares in the company, valued at approximately $2,445,770.10. The trade was a 2.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 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.