JPMorgan Chase & Co. Has $100.38 Million Position in Rayonier Inc. $RYN

JPMorgan Chase & Co. boosted its stake in Rayonier Inc. (NYSE:RYN) by 2.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,782,342 shares of the real estate investment trust’s stock after purchasing an additional 94,033 shares during the quarter. JPMorgan Chase & Co. owned about 2.45% of Rayonier worth $100,383,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Allworth Financial LP raised its holdings in shares of Rayonier by 213.7% during the second quarter. Allworth Financial LP now owns 1,217 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 829 shares during the period. Hartford Financial Management Inc. bought a new stake in Rayonier in the 3rd quarter valued at about $31,000. Caldwell Trust Co acquired a new position in Rayonier during the 2nd quarter worth approximately $39,000. GAMMA Investing LLC boosted its holdings in Rayonier by 138.9% in the third quarter. GAMMA Investing LLC now owns 1,696 shares of the real estate investment trust’s stock worth $45,000 after acquiring an additional 986 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in Rayonier by 55.5% in the third quarter. Blue Trust Inc. now owns 1,913 shares of the real estate investment trust’s stock valued at $51,000 after acquiring an additional 683 shares during the period. 89.12% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on RYN shares. Raymond James Financial raised Rayonier from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from $26.00 to $28.00 in a research report on Friday, February 13th. Royal Bank Of Canada upped their price objective on shares of Rayonier from $25.00 to $26.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 17th. Citigroup dropped their price objective on shares of Rayonier from $27.00 to $24.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 12th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Rayonier in a report on Monday, December 29th. Finally, Truist Financial lowered their target price on shares of Rayonier from $28.00 to $26.00 and set a “hold” rating on the stock in a report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $26.00.

Rayonier Price Performance

RYN opened at $22.67 on Monday. Rayonier Inc. has a 1 year low of $21.06 and a 1 year high of $28.31. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.26 and a quick ratio of 3.39. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of 7.43 and a beta of 0.98. The firm’s fifty day moving average price is $22.71 and its two-hundred day moving average price is $23.86.

Rayonier (NYSE:RYN) last released its quarterly earnings results on Wednesday, February 11th. The real estate investment trust reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08. Rayonier had a net margin of 97.94% and a return on equity of 4.09%. The company had revenue of $117.50 million for the quarter, compared to analyst estimates of $108.71 million. During the same period last year, the firm earned $0.24 earnings per share. The firm’s revenue was down 24.4% on a year-over-year basis. As a group, analysts anticipate that Rayonier Inc. will post 0.55 earnings per share for the current fiscal 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.