Deprince Race & Zollo Inc. Takes Position in Rayonier Inc. $RYN

Deprince Race & Zollo Inc. purchased a new position in Rayonier Inc. (NYSE:RYN) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 4,159,595 shares of the real estate investment trust’s stock, valued at approximately $85,771,000. Rayonier comprises 1.6% of Deprince Race & Zollo Inc.’s portfolio, making the stock its 3rd biggest holding. Deprince Race & Zollo Inc. owned approximately 1.38% of Rayonier as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of RYN. Eurizon Capital SGR S.p.A. purchased a new position in Rayonier in the fourth quarter valued at about $34,000. Northwestern Mutual Wealth Management Co. raised its stake 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 worth $34,000 after purchasing an additional 627 shares in the last quarter. Hartford Financial Management Inc. raised its stake in shares of 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. Bayban acquired a new stake in shares of Rayonier during the 1st quarter valued at about $36,000. Finally, Parallel Advisors LLC lifted its holdings in shares of Rayonier by 77.9% during the 3rd quarter. Parallel Advisors LLC now owns 2,451 shares of the real estate investment trust’s stock valued at $65,000 after buying an additional 1,073 shares during the last quarter. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on RYN shares. Wall Street Zen raised Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, April 18th. Truist Financial raised their price objective 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. BMO Capital Markets reduced their target price on shares of Rayonier from $26.00 to $25.00 and set a “market perform” rating for the company in a research note on Tuesday, May 19th. Royal Bank Of Canada set a $24.00 target price on shares of Rayonier in a research report on Thursday, April 16th. Finally, Weiss Ratings lowered shares of Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Rayonier has an average rating of “Hold” and an average target price of $24.80.

Rayonier Trading Up 0.0%

NYSE:RYN opened at $21.29 on Thursday. The company’s 50 day moving average is $20.90 and its 200-day moving average is $21.56. The company has a quick ratio of 2.21, a current ratio of 2.53 and a debt-to-equity ratio of 0.35. Rayonier Inc. has a 12 month low of $19.49 and a 12 month high of $27.33. The firm has a market cap of $6.40 billion, a price-to-earnings ratio of 7.05 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 the consensus estimate of $0.06 by $0.01. The business had revenue of $276.79 million during the quarter, compared to the consensus estimate of $280.92 million. Rayonier had a net margin of 68.61% and a return on equity of 3.61%. Rayonier’s quarterly revenue was up 233.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.02) EPS. Equities analysts anticipate that Rayonier Inc. will post 0.36 EPS for the current year.

Rayonier Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend was Tuesday, June 16th. Rayonier’s dividend payout ratio (DPR) is currently 34.44%.

Insider Activity

In related news, CFO Wayne Wasechek sold 2,920 shares of the business’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $21.17, for a total transaction of $61,816.40. Following the completion of the transaction, the chief financial officer owned 115,530 shares of the company’s stock, valued at approximately $2,445,770.10. The trade was a 2.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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. Corporate 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.