Comprehensive Money Management Services LLC Raises Stock Position in Rayonier Inc. $RYN

Comprehensive Money Management Services LLC increased its position in shares of Rayonier Inc. (NYSE:RYN) by 83.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 78,485 shares of the real estate investment trust’s stock after acquiring an additional 35,747 shares during the period. Rayonier makes up about 1.1% of Comprehensive Money Management Services LLC’s holdings, making the stock its 22nd biggest position. Comprehensive Money Management Services LLC’s holdings in Rayonier were worth $1,618,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Eurizon Capital SGR S.p.A. bought a new position in Rayonier in the 4th quarter valued at $34,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of 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 period. Hartford Financial Management Inc. raised its position in shares of Rayonier by 49.7% in the fourth quarter. Hartford Financial Management Inc. now owns 1,732 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 575 shares in the last quarter. North Star Investment Management Corp. purchased a new stake in shares of Rayonier in the first quarter worth $51,000. Finally, Quarry LP boosted its stake in Rayonier by 19.8% during the fourth quarter. Quarry LP now owns 3,012 shares of the real estate investment trust’s stock valued at $65,000 after buying an additional 498 shares during the period. Institutional investors own 89.12% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Royal Bank Of Canada set a $24.00 target price on Rayonier in a research report on Thursday, April 16th. Citigroup cut their price objective on Rayonier from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Wall Street Zen upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, April 18th. BMO Capital Markets lowered their target price on shares of Rayonier from $26.00 to $25.00 and set a “market perform” rating on the stock in a research note on Tuesday, May 19th. Finally, Truist Financial lifted their target price on shares of Rayonier from $24.00 to $25.00 and gave the company a “hold” rating in a research report on Monday, May 11th. One research 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 stock. According to MarketBeat, Rayonier presently has a consensus rating of “Hold” and a consensus price target of $24.80.

Insider Activity at Rayonier

In other Rayonier news, CFO Wayne Wasechek sold 2,920 shares of Rayonier stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $21.17, for a total transaction of $61,816.40. Following the transaction, the chief financial officer directly owned 115,530 shares of the company’s stock, valued at approximately $2,445,770.10. This trade represents a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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. Company insiders own 0.85% of the company’s stock.

Rayonier Trading Down 1.0%

NYSE RYN opened at $21.68 on Tuesday. 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 stock’s 50-day simple moving average is $20.91 and its two-hundred day simple moving average is $21.57. Rayonier Inc. has a twelve month low of $19.49 and a twelve month high of $27.33. The company has a market capitalization of $6.52 billion, a price-to-earnings ratio of 7.18 and a beta of 0.88.

Rayonier (NYSE:RYN) last posted its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The firm had revenue of $276.79 million during the quarter, compared to analysts’ expectations of $280.92 million. Rayonier had a return on equity of 3.61% and a net margin of 68.61%.The company’s revenue for the quarter was up 233.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.02) EPS. Research analysts forecast that Rayonier Inc. will post 0.36 EPS for the current fiscal year.

Rayonier Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $1.04 annualized dividend and a yield of 4.8%. Rayonier’s dividend 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.