Public Employees Retirement System of Ohio Acquires Shares of 90,712 Rayonier Inc. $RYN

Public Employees Retirement System of Ohio acquired a new stake in Rayonier Inc. (NYSE:RYN) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 90,712 shares of the real estate investment trust’s stock, valued at approximately $1,930,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Eurizon Capital SGR S.p.A. acquired a new position in Rayonier during the fourth quarter valued at $34,000. Northwestern Mutual Wealth Management Co. grew its position in Rayonier by 65.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,581 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 627 shares during the period. Bayban purchased a new position in shares of Rayonier during the 1st quarter valued at about $36,000. Whittier Trust Co. raised its stake in shares of Rayonier by 74.0% during the 1st 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. Finally, North Star Investment Management Corp. purchased a new position in shares of Rayonier during the 1st quarter valued at about $51,000. Institutional investors and hedge funds own 89.12% of the company’s stock.

Rayonier Stock Performance

NYSE:RYN opened at $20.47 on Monday. The company has a market cap of $6.09 billion, a P/E ratio of 45.49 and a beta of 0.87. The company’s 50-day moving average price is $21.36 and its 200-day moving average price is $21.13. Rayonier Inc. has a twelve month low of $19.49 and a twelve month high of $27.06. The company has a current ratio of 3.56, a quick ratio of 2.91 and a debt-to-equity ratio of 0.36.

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 analysts’ consensus estimates of $0.10. The business had revenue of $396.51 million during the quarter, compared to analyst estimates 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 prior year, the business earned $0.06 earnings per share. On average, sell-side analysts forecast that Rayonier Inc. will post 0.44 earnings per share for the current fiscal year.

Rayonier Dividend Announcement

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

Analysts Set New Price Targets

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

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.