Commonwealth of Pennsylvania Public School Empls Retrmt SYS Increases Position in Rayonier Inc. $RYN

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Rayonier Inc. (NYSE:RYN) by 87.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,689 shares of the real estate investment trust’s stock after purchasing an additional 32,531 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Rayonier were worth $1,437,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of RYN. Eurizon Capital SGR S.p.A. bought a new stake in Rayonier during the fourth quarter valued at about $34,000. Northwestern Mutual Wealth Management Co. boosted its stake 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 acquiring an additional 627 shares during the period. Bayban bought a new position in Rayonier in the 1st quarter worth approximately $36,000. Hartford Financial Management Inc. grew its holdings 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 valued at $37,000 after buying an additional 575 shares in the last quarter. Finally, Whittier Trust Co. raised its position 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 buying an additional 969 shares during the last quarter. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Rayonier Stock Performance

Shares of NYSE:RYN opened at $22.13 on Friday. Rayonier Inc. has a 52 week low of $19.49 and a 52 week high of $27.33. The stock has a market capitalization of $6.66 billion, a P/E ratio of 7.33 and a beta of 0.88. The firm has a fifty day simple moving average of $20.99 and a two-hundred day simple moving average of $21.53. 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 (NYSE:RYN) last announced 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 net margin of 68.61% and a return on equity of 3.61%. The firm had revenue of $276.79 million for the quarter, compared to analysts’ expectations of $280.92 million. During the same period in the prior year, the company earned ($0.02) EPS. The business’s revenue was up 233.9% compared to the same quarter last year. On average, analysts expect that Rayonier Inc. will post 0.36 earnings per share for the current fiscal year.

Rayonier Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Wednesday, September 16th. Rayonier’s dividend payout ratio (DPR) is presently 34.44%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RYN. BMO Capital Markets cut 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. Truist Financial decreased their price target on shares of Rayonier from $25.00 to $24.00 and set a “hold” rating on the stock in a research note on Wednesday. Royal Bank Of Canada set a $24.00 price objective on shares of Rayonier in a report on Thursday, April 16th. Weiss Ratings downgraded Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 12th. Finally, Citigroup dropped their price target on Rayonier from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. One research 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $24.60.

Insider Activity at Rayonier

In other news, CFO Wayne Wasechek sold 2,920 shares of the business’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $21.17, for a total transaction of $61,816.40. Following 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 SEC, which can be accessed through the SEC website. 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 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.