Principal Financial Group Inc. Acquires 15,382 Shares of Rayonier Inc. (NYSE:RYN)

Principal Financial Group Inc. grew its holdings in shares of Rayonier Inc. (NYSE:RYN) by 5.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 323,985 shares of the real estate investment trust’s stock after acquiring an additional 15,382 shares during the period. Principal Financial Group Inc. owned about 0.21% of Rayonier worth $9,033,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Shell Asset Management Co. raised its stake in shares of Rayonier by 4.5% during the fourth quarter. Shell Asset Management Co. now owns 11,652 shares of the real estate investment trust’s stock valued at $304,000 after acquiring an additional 497 shares during the last quarter. Covestor Ltd raised its stake in shares of Rayonier by 30.0% during the fourth quarter. Covestor Ltd now owns 2,317 shares of the real estate investment trust’s stock valued at $60,000 after acquiring an additional 535 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of Rayonier by 133.5% during the first quarter. Parallel Advisors LLC now owns 1,123 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 642 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of Rayonier by 23.4% during the first quarter. Harbor Capital Advisors Inc. now owns 3,933 shares of the real estate investment trust’s stock valued at $110,000 after acquiring an additional 747 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Rayonier during the fourth quarter valued at $25,000. Institutional investors own 89.12% of the company’s stock.

Rayonier Trading Down 0.4%

NYSE:RYN opened at $23.40 on Tuesday. Rayonier Inc. has a 12 month low of $21.84 and a 12 month high of $31.29. The company has a current ratio of 2.71, a quick ratio of 2.60 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $3.64 billion, a price-to-earnings ratio of 10.04 and a beta of 1.02. The firm has a fifty day simple moving average of $23.29 and a two-hundred day simple moving average of $25.09.

Rayonier (NYSE:RYN) last posted its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.10). Rayonier had a net margin of 30.09% and a return on equity of 3.29%. The company had revenue of $82.90 million during the quarter, compared to the consensus estimate of $152.99 million. During the same period last year, the firm posted $0.01 earnings per share. The company’s revenue for the quarter was down 27.1% on a year-over-year basis. Analysts expect that Rayonier Inc. will post 0.55 EPS for the current fiscal year.

Rayonier Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were paid a $0.2725 dividend. This represents a $1.09 annualized dividend and a yield of 4.66%. The ex-dividend date was Monday, June 16th. Rayonier’s dividend payout ratio (DPR) is currently 46.78%.

Analyst Ratings Changes

Several research firms have recently weighed in on RYN. Royal Bank Of Canada decreased their price objective on shares of Rayonier from $28.00 to $27.00 and set a “sector perform” rating for the company in a research report on Friday, May 2nd. Wall Street Zen upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research report on Tuesday, May 13th. Truist Financial decreased their price objective on shares of Rayonier from $30.00 to $27.00 and set a “hold” rating for the company in a research report on Tuesday, April 22nd. Finally, Citigroup decreased their price objective on shares of Rayonier from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Tuesday, June 3rd. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Rayonier has a consensus rating of “Hold” and a consensus target price of $27.75.

About Rayonier

Rayonier is a leading timberland real estate investment trust with assets located in some of the most productive softwood timber growing regions in the United States and New Zealand. As of December 31, 2023, Rayonier owned or leased under long-term agreements approximately 2.7 million acres of timberlands located in the U.S.