Allspring Global Investments Holdings LLC Purchases New Stake in Rayonier Inc. $RYN

Allspring Global Investments Holdings LLC acquired a new position in shares of Rayonier Inc. (NYSE:RYN) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 102,880 shares of the real estate investment trust’s stock, valued at approximately $2,146,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Eurizon Capital SGR S.p.A. acquired a new position in shares of Rayonier in the fourth quarter valued at about $34,000. Northwestern Mutual Wealth Management Co. raised its stake in Rayonier by 65.7% in 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 in the last quarter. Bayban bought a new stake in Rayonier in the 1st quarter valued at about $36,000. Hartford Financial Management Inc. boosted its holdings in Rayonier by 49.7% in the 4th quarter. Hartford Financial Management Inc. now owns 1,732 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 575 shares during the period. Finally, Whittier Trust Co. boosted its holdings in Rayonier by 74.0% in the 1st quarter. Whittier Trust Co. now owns 2,279 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 969 shares during the period. Institutional investors and hedge funds own 89.12% of the company’s stock.

Analyst Ratings Changes

RYN has been the subject of several recent research reports. BMO Capital Markets cut their price target on Rayonier from $26.00 to $25.00 and set a “market perform” rating for the company in a research note on Tuesday, May 19th. Wall Street Zen raised Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, April 18th. Truist Financial cut their target price on Rayonier from $25.00 to $24.00 and set a “hold” rating for the company in a research report on Wednesday, July 15th. Citigroup decreased their price target on Rayonier from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. Finally, Weiss Ratings cut shares of Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Rayonier has an average rating of “Hold” and an average target price of $24.60.

Rayonier Stock Performance

NYSE RYN opened at $21.59 on Friday. Rayonier Inc. has a fifty-two week low of $19.49 and a fifty-two week high of $27.33. The stock has a market cap of $6.49 billion, a PE ratio of 7.15 and a beta of 0.88. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.21 and a current ratio of 2.53. The firm’s fifty day moving average price is $21.14 and its two-hundred day moving average price is $21.52.

Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. The firm had revenue of $276.79 million during the quarter, compared to analysts’ expectations of $280.92 million. Rayonier had a net margin of 68.61% and a return on equity of 3.61%. The company’s revenue was up 233.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.02) EPS. On average, equities analysts expect that Rayonier Inc. will post 0.36 EPS for the current fiscal year.

Rayonier Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date is Wednesday, September 16th. Rayonier’s dividend payout ratio (DPR) is presently 34.44%.

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.