338,514 Shares in Rayonier Inc. $RYN Acquired by World Investment Advisors

World Investment Advisors bought a new position in shares of Rayonier Inc. (NYSE:RYN) in the 1st quarter, Holdings Channel reports. The fund bought 338,514 shares of the real estate investment trust’s stock, valued at approximately $6,980,000.

A number of other hedge funds have also added to or reduced their stakes in RYN. New York State Teachers Retirement System boosted its holdings in shares of Rayonier by 82.0% during the 1st quarter. New York State Teachers Retirement System now owns 359,816 shares of the real estate investment trust’s stock worth $7,419,000 after buying an additional 162,080 shares in the last quarter. Strs Ohio increased its stake in shares of Rayonier by 86.7% in the 1st quarter. Strs Ohio now owns 7,122 shares of the real estate investment trust’s stock valued at $147,000 after acquiring an additional 3,308 shares in the last quarter. Deprince Race & Zollo Inc. bought a new stake in shares of Rayonier in the 1st quarter valued at $85,771,000. Bayban acquired a new position in shares of Rayonier during the 1st quarter valued at $36,000. Finally, Inspire Investing LLC lifted its position in shares of Rayonier by 15.4% during the 1st quarter. Inspire Investing LLC now owns 24,917 shares of the real estate investment trust’s stock valued at $514,000 after acquiring an additional 3,326 shares during the period. 89.12% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RYN has been the subject of a number of research reports. Citigroup reduced their price target on shares of Rayonier from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Weiss Ratings lowered shares of Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, May 12th. BMO Capital Markets cut their price objective on shares of 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 raised their target price on Rayonier from $24.00 to $25.00 and gave the company a “hold” rating in a research note on Monday, May 11th. Finally, Wall Street Zen raised Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, April 18th. 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $24.80.

Rayonier Price Performance

Shares of NYSE RYN opened at $21.44 on Friday. The stock has a market cap of $6.45 billion, a price-to-earnings ratio of 7.10 and a beta of 0.88. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.21 and a current ratio of 2.53. Rayonier Inc. has a fifty-two week low of $19.49 and a fifty-two week high of $27.33. The firm’s 50-day simple moving average is $20.92 and its 200 day simple moving average is $21.55.

Rayonier (NYSE:RYN) last issued 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 firm had revenue of $276.79 million during the quarter, compared to analyst estimates of $280.92 million. Rayonier had a return on equity of 3.61% and a net margin of 68.61%.The company’s revenue for the quarter was up 233.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.02) EPS. As a group, research analysts anticipate that Rayonier Inc. will post 0.36 earnings per share for the current fiscal year.

Rayonier Announces Dividend

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

Insider Buying and Selling

In other Rayonier news, CFO Wayne Wasechek sold 2,920 shares of the firm’s stock in a transaction 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 directly owned 115,530 shares in the company, valued at approximately $2,445,770.10. This trade represents a 2.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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. 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.