Adams Asset Advisors LLC Makes New Investment in Rayonier Inc. $RYN

Adams Asset Advisors LLC acquired a new stake in shares of Rayonier Inc. (NYSE:RYN) during the 3rd quarter, Holdings Channel reports. The fund acquired 167,348 shares of the real estate investment trust’s stock, valued at approximately $3,073,000.

Other large investors also recently modified their holdings of the company. BlackRock Inc. bought a new position in Rayonier in the 2nd quarter worth $617,451,000. Legal & General Group Plc bought a new stake in Rayonier during the second quarter valued at about $213,574,000. Deprince Race & Zollo Inc. bought a new stake in Rayonier during the first quarter valued at about $85,771,000. Atlas FRM LLC purchased a new position in shares of Rayonier in the second quarter valued at about $83,843,200. Finally, Bank of New York Mellon Corp purchased a new position in shares of Rayonier in the second quarter valued at about $52,572,000. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Insider Transactions at Rayonier

In other Rayonier news, EVP Mark Bridwell sold 5,318 shares of Rayonier stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $20.19, for a total value of $107,370.42. Following the sale, the executive vice president owned 131,661 shares of the company’s stock, valued at $2,658,235.59. The trade was a 3.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 6,219 shares of company stock valued at $124,088. Insiders own 0.85% of the company’s stock.

Rayonier Price Performance

Shares of RYN traded up $0.56 during midday trading on Thursday, hitting $18.55. 6,172,538 shares of the company traded hands, compared to its average volume of 3,017,186. The stock has a market cap of $5.52 billion, a price-to-earnings ratio of 41.22 and a beta of 0.89. The firm has a 50 day moving average of $20.39 and a 200-day moving average of $20.80. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.91 and a current ratio of 3.56. Rayonier Inc. has a 52 week low of $17.71 and a 52 week high of $26.75.

Rayonier (NYSE:RYN) last issued its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. The firm had revenue of $396.51 million for the quarter, compared to analysts’ expectations of $374.28 million. Rayonier had a return on equity of 3.49% and a net margin of 7.83%.The business’s revenue was up 272.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.06 earnings per share. On average, analysts forecast that Rayonier Inc. will post 0.44 EPS for the current fiscal year.

Rayonier Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 5.6%. The ex-dividend date was Wednesday, September 16th. Rayonier’s dividend payout ratio (DPR) is currently 231.11%.

Analyst Ratings Changes

Several research firms recently issued reports on RYN. Weiss Ratings upgraded Rayonier from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, August 21st. Citigroup dropped their price target on Rayonier from $23.00 to $19.00 and set a “neutral” rating for the company in a research note on Monday. Truist Financial cut their price objective on shares of Rayonier from $25.00 to $24.00 and set a “hold” rating for the company in a report on Wednesday, July 15th. Finally, Seaport Research Partners reaffirmed a “buy” rating and set a $30.00 price objective on shares of Rayonier in a report on Thursday. One analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $24.00.

Rayonier Company Profile

Rayonier Inc (NYSE:RYN) is a real estate investment trust that owns, leases and manages timberlands. The company generates revenue primarily from the sale of timber and logs, as well as from real estate transactions and leases involving its land holdings.

Rayonier’s timber operations span the U.S. South, the Pacific Northwest and New Zealand. Its products include timber used in construction, packaging, paper and other wood-related applications. The company also pursues opportunities involving rural land, conservation, renewable energy and other alternative uses of its properties.

Founded in 1926, Rayonier has evolved from a forest-products company into a publicly traded timberland owner and manager.