Allspring Global Investments Holdings LLC Takes $2.15 Million Position in Rayonier Inc. $RYN

Allspring Global Investments Holdings LLC bought a new position in shares of Rayonier Inc. (NYSE:RYN) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 102,880 shares of the real estate investment trust’s stock, valued at approximately $2,146,000.

Other large investors have also bought and sold shares of the company. Baker Ellis Asset Management LLC boosted its holdings in Rayonier by 3.8% in the fourth quarter. Baker Ellis Asset Management LLC now owns 12,942 shares of the real estate investment trust’s stock worth $280,000 after acquiring an additional 469 shares in the last quarter. Bfsg LLC raised its position in shares of Rayonier by 0.6% during the fourth quarter. Bfsg LLC now owns 78,219 shares of the real estate investment trust’s stock worth $1,693,000 after purchasing an additional 492 shares during the period. Quarry LP lifted its holdings in shares of Rayonier by 19.8% in 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. Greenwood Gearhart Inc. lifted its holdings in shares of Rayonier by 4.9% in the 4th quarter. Greenwood Gearhart Inc. now owns 10,802 shares of the real estate investment trust’s stock worth $234,000 after purchasing an additional 502 shares in the last quarter. Finally, Hartford Financial Management Inc. grew its position in Rayonier by 49.7% in 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 period. 89.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Rayonier Trading Up 1.3%

NYSE RYN opened at $21.59 on Friday. The stock has a market capitalization of $6.49 billion, a price-to-earnings ratio of 7.15 and a beta of 0.88. 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 business’s fifty day moving average is $21.14 and its 200-day moving average is $21.52.

Rayonier (NYSE:RYN) last issued its 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 return on equity of 3.61% and a net margin of 68.61%.The firm had revenue of $276.79 million for the quarter, compared to analyst estimates of $280.92 million. During the same period in the previous year, the company posted ($0.02) earnings per share. The business’s revenue was up 233.9% on a year-over-year basis. Equities research analysts predict that Rayonier Inc. will post 0.36 EPS 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 issued 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 4.8%. Rayonier’s payout ratio is presently 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.