Murphy Pohlad Asset Management LLC Buys Shares of 43,775 Rayonier Inc. $RYN

Murphy Pohlad Asset Management LLC purchased a new position in Rayonier Inc. (NYSE:RYN) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 43,775 shares of the real estate investment trust’s stock, valued at approximately $932,000.

Several other hedge funds also recently modified their holdings of RYN. Bank of America Corp DE boosted its position in Rayonier by 141.8% during the 1st quarter. Bank of America Corp DE now owns 1,620,769 shares of the real estate investment trust’s stock worth $33,420,000 after acquiring an additional 950,473 shares during the last quarter. UBS Group AG raised its holdings in shares of Rayonier by 882.5% in the fourth quarter. UBS Group AG now owns 496,024 shares of the real estate investment trust’s stock valued at $10,739,000 after purchasing an additional 445,538 shares during the last quarter. Fieldview Capital Management LLC bought a new stake in shares of Rayonier in the fourth quarter worth $1,936,000. World Investment Advisors bought a new stake in shares of Rayonier in the first quarter worth $6,980,000. Finally, Vestcor Inc boosted its holdings in Rayonier by 3,590.1% during the fourth quarter. Vestcor Inc now owns 128,231 shares of the real estate investment trust’s stock worth $2,776,000 after purchasing an additional 124,756 shares during the last quarter. 89.12% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on RYN shares. Truist Financial cut their price target on shares of Rayonier from $25.00 to $24.00 and set a “hold” rating on the stock in a report on Wednesday, July 15th. BMO Capital Markets lowered their target price on Rayonier from $26.00 to $25.00 and set a “market perform” rating for the company in a research report on Tuesday, May 19th. Citigroup lifted their target price on Rayonier from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Finally, Weiss Ratings upgraded Rayonier from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, August 21st. One analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Rayonier has an average rating of “Hold” and a consensus target price of $24.80.

Rayonier Stock Performance

NYSE RYN traded up $0.03 during trading on Tuesday, hitting $20.48. 2,749,534 shares of the company’s stock traded hands, compared to its average volume of 2,893,479. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.91 and a current ratio of 3.56. The stock has a market capitalization of $6.10 billion, a price-to-earnings ratio of 45.52 and a beta of 0.87. Rayonier Inc. has a 12-month low of $19.49 and a 12-month high of $27.06. The business has a 50 day moving average of $21.34 and a 200-day moving average of $21.10.

Rayonier (NYSE:RYN) last posted its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. The company had revenue of $396.51 million for the quarter, compared to analyst estimates of $374.28 million. Rayonier had a net margin of 7.83% and a return on equity of 3.49%. The company’s quarterly revenue was up 272.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.06 earnings per share. As a group, equities research analysts anticipate that Rayonier Inc. will post 0.44 earnings per share for the current fiscal year.

Rayonier Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be given a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $1.04 dividend on an annualized basis and a yield of 5.1%. Rayonier’s payout ratio is 231.11%.

About Rayonier

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.