Strs Ohio Sells 60,463 Shares of Rayonier Inc. $RYN

Strs Ohio decreased its position in shares of Rayonier Inc. (NYSE:RYN) by 94.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 3,702 shares of the real estate investment trust’s stock after selling 60,463 shares during the period. Strs Ohio’s holdings in Rayonier were worth $98,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Nordea Investment Management AB boosted its stake in Rayonier by 17.2% during the second quarter. Nordea Investment Management AB now owns 225,389 shares of the real estate investment trust’s stock worth $4,959,000 after acquiring an additional 33,071 shares in the last quarter. Global Alpha Capital Management Ltd. lifted its holdings in shares of Rayonier by 22.1% during the second quarter. Global Alpha Capital Management Ltd. now owns 1,700,299 shares of the real estate investment trust’s stock valued at $37,713,000 after purchasing an additional 308,200 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Rayonier by 25.7% during the second quarter. JPMorgan Chase & Co. now owns 3,688,309 shares of the real estate investment trust’s stock valued at $81,807,000 after purchasing an additional 754,076 shares during the last quarter. Bayforest Capital Ltd bought a new stake in shares of Rayonier in the 3rd quarter worth approximately $674,000. Finally, Prudential Financial Inc. grew its stake in shares of Rayonier by 102.7% in the 2nd quarter. Prudential Financial Inc. now owns 156,988 shares of the real estate investment trust’s stock worth $3,482,000 after buying an additional 79,553 shares during the last quarter. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on RYN shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Rayonier in a research note on Monday, December 29th. Citigroup reduced their price target on Rayonier from $27.00 to $24.00 and set a “neutral” rating for the company in a report on Wednesday, November 12th. Truist Financial lowered their price target on Rayonier from $28.00 to $26.00 and set a “hold” rating for the company in a research report on Tuesday, January 6th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $25.00 price objective on shares of Rayonier in a research report on Thursday, December 18th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $26.50.

Rayonier Trading Up 0.9%

Rayonier stock opened at $22.76 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.44 and a quick ratio of 3.39. Rayonier Inc. has a one year low of $21.06 and a one year high of $28.31. The stock has a market capitalization of $3.67 billion, a PE ratio of 4.52 and a beta of 0.98. The business’s fifty day moving average is $22.45 and its 200 day moving average is $23.93.

Rayonier (NYSE:RYN) last issued its earnings results on Wednesday, November 5th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.09. The business had revenue of $177.53 million during the quarter, compared to analyst estimates of $162.82 million. Rayonier had a return on equity of 4.74% and a net margin of 70.95%.Rayonier’s revenue was up 43.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.12 EPS. On average, sell-side analysts predict that Rayonier Inc. will post 0.55 EPS for the current year.

Rayonier Company 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.