41,075 Shares in Rayonier Inc. $RYN Purchased by Parvin Asset Management LLC

Parvin Asset Management LLC bought a new position in shares of Rayonier Inc. (NYSE:RYN) during the 4th quarter, Holdings Channel.com reports. The firm bought 41,075 shares of the real estate investment trust’s stock, valued at approximately $889,000.

Several other large investors have also recently added to or reduced their stakes in RYN. Norges Bank purchased a new position in Rayonier during the fourth quarter worth about $313,806,000. Fuller & Thaler Asset Management Inc. lifted its position in Rayonier by 232.2% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,647,156 shares of the real estate investment trust’s stock worth $122,261,000 after buying an additional 3,947,226 shares during the period. Qube Research & Technologies Ltd lifted its position in Rayonier by 1,088.2% during the second quarter. Qube Research & Technologies Ltd now owns 790,239 shares of the real estate investment trust’s stock worth $17,528,000 after buying an additional 723,732 shares during the period. Cohen & Steers Inc. lifted its position in Rayonier by 5.6% during the fourth quarter. Cohen & Steers Inc. now owns 13,548,815 shares of the real estate investment trust’s stock worth $293,332,000 after buying an additional 717,021 shares during the period. Finally, Gotham Asset Management LLC lifted its position in Rayonier by 246.6% during the third quarter. Gotham Asset Management LLC now owns 960,747 shares of the real estate investment trust’s stock worth $25,498,000 after buying an additional 683,517 shares during the period. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

Rayonier Stock Performance

Rayonier stock opened at $21.33 on Wednesday. The stock’s 50-day moving average is $20.87 and its 200-day moving average is $21.59. The company has a market cap of $6.42 billion, a price-to-earnings ratio of 7.06 and a beta of 0.88. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.53 and a quick ratio of 2.21. Rayonier Inc. has a 12 month low of $19.49 and a 12 month high of $27.33.

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

Rayonier Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date is Tuesday, June 16th. Rayonier’s dividend payout ratio (DPR) is 34.44%.

Insider Activity at Rayonier

In other news, CFO Wayne Wasechek sold 2,920 shares of the firm’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $21.17, for a total value of $61,816.40. Following the transaction, the chief financial officer directly owned 115,530 shares in the company, valued at $2,445,770.10. This trade represents a 2.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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. 0.85% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Weiss Ratings downgraded Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 12th. Truist Financial increased their target price on Rayonier from $24.00 to $25.00 and gave the stock a “hold” rating in a research report on Monday, May 11th. Citigroup reduced their target price on Rayonier from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. Royal Bank Of Canada set a $24.00 price objective on Rayonier in a report on Thursday, April 16th. Finally, Wall Street Zen upgraded Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, April 18th. One 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $24.80.

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.