Swiss National Bank Increases Stock Holdings in Rayonier Inc. $RYN

Swiss National Bank raised its position in shares of Rayonier Inc. (NYSE:RYN) by 87.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 567,778 shares of the real estate investment trust’s stock after purchasing an additional 265,144 shares during the quarter. Swiss National Bank owned 0.19% of Rayonier worth $11,708,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Eurizon Capital SGR S.p.A. bought a new position in shares of Rayonier in the 4th quarter worth approximately $34,000. Northwestern Mutual Wealth Management Co. grew its position in Rayonier by 65.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,581 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 627 shares during the period. Bayban purchased a new stake in Rayonier during the first quarter valued at approximately $36,000. Hartford Financial Management Inc. increased its holdings in Rayonier by 49.7% during the fourth 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 during the last quarter. Finally, Whittier Trust Co. increased its holdings in 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. 89.12% of the stock is currently owned by institutional investors.

Rayonier Price Performance

Shares of NYSE:RYN opened at $21.59 on Monday. 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 1-year low of $19.49 and a 1-year high of $27.33. The company has a market capitalization of $6.49 billion, a P/E ratio of 7.15 and a beta of 0.88. The firm’s 50 day simple moving average is $21.14 and its two-hundred day simple moving average is $21.52.

Rayonier (NYSE:RYN) last announced 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 net margin of 68.61% and a return on equity of 3.61%. 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 company posted ($0.02) earnings per share. Research analysts expect that Rayonier Inc. will post 0.36 EPS for the current fiscal year.

Rayonier Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date is Wednesday, September 16th. Rayonier’s dividend payout ratio is presently 34.44%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RYN. Truist Financial dropped 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, July 15th. BMO Capital Markets reduced their price objective on Rayonier from $26.00 to $25.00 and set a “market perform” rating for the company in a research note on Tuesday, May 19th. Weiss Ratings lowered Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. Wall Street Zen raised Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, April 18th. Finally, Royal Bank Of Canada set a $24.00 target price on Rayonier in a research report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $24.60.

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.