Deprince Race & Zollo Inc. Purchases New Holdings in Rayonier Inc. $RYN

Deprince Race & Zollo Inc. acquired a new stake in Rayonier Inc. (NYSE:RYN) in the first quarter, HoldingsChannel reports. The institutional investor acquired 4,159,595 shares of the real estate investment trust’s stock, valued at approximately $85,771,000. Rayonier makes up approximately 1.6% of Deprince Race & Zollo Inc.’s portfolio, making the stock its 3rd largest position.

Other hedge funds have also modified their holdings of the company. Bayban bought a new position in shares of Rayonier in the first quarter valued at approximately $36,000. Inspire Investing LLC lifted its holdings in Rayonier by 15.4% in the first quarter. Inspire Investing LLC now owns 24,917 shares of the real estate investment trust’s stock valued at $514,000 after buying an additional 3,326 shares during the period. Comprehensive Money Management Services LLC lifted its stake in shares of Rayonier by 83.6% in the 1st quarter. Comprehensive Money Management Services LLC now owns 78,485 shares of the real estate investment trust’s stock valued at $1,618,000 after purchasing an additional 35,747 shares during the period. North Star Investment Management Corp. bought a new position in Rayonier during the first quarter worth about $51,000. Finally, Janney Montgomery Scott LLC bought a new position in Rayonier during the 1st quarter worth approximately $388,000. 89.12% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RYN has been the subject of several research analyst reports. Wall Street Zen upgraded 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 Rayonier from $26.00 to $25.00 and set a “market perform” rating on the stock in a research report on Tuesday, May 19th. Truist Financial upped their price target on shares of Rayonier from $24.00 to $25.00 and gave the stock a “hold” rating in a research report on Monday, May 11th. Royal Bank Of Canada set a $24.00 target price on shares of Rayonier in a report on Thursday, April 16th. Finally, Weiss Ratings downgraded shares of Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $24.80.

Rayonier Stock Up 0.0%

RYN opened at $21.29 on Thursday. The stock’s fifty day simple moving average is $20.90 and its 200 day simple moving average is $21.56. Rayonier Inc. has a 1-year low of $19.49 and a 1-year high of $27.33. The stock has a market cap of $6.40 billion, a PE ratio of 7.05 and a beta of 0.88. The company has a current ratio of 2.53, a quick ratio of 2.21 and a debt-to-equity ratio of 0.35.

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, beating the consensus estimate of $0.06 by $0.01. The firm had revenue of $276.79 million for 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%. The company’s quarterly revenue was up 233.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.02) earnings per share. As a group, research analysts expect that Rayonier Inc. will post 0.36 earnings per share for the current year.

Rayonier Announces Dividend

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

Insiders Place Their Bets

In other Rayonier news, CFO Wayne Wasechek sold 2,920 shares of the firm’s 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 corporate insiders.

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.