Swiss National Bank Acquires 265,144 Shares of Rayonier Inc. $RYN

Swiss National Bank increased its holdings in Rayonier Inc. (NYSE:RYN) by 87.6% during the first quarter, Holdings Channel reports. The firm owned 567,778 shares of the real estate investment trust’s stock after acquiring an additional 265,144 shares during the quarter. Swiss National Bank’s holdings in Rayonier were worth $11,708,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Fieldview Capital Management LLC purchased a new position in shares of Rayonier in the fourth quarter worth $1,936,000. UBS Group AG grew its stake in Rayonier by 882.5% during the fourth quarter. UBS Group AG now owns 496,024 shares of the real estate investment trust’s stock valued at $10,739,000 after acquiring an additional 445,538 shares in the last quarter. World Investment Advisors purchased a new position in Rayonier during the first quarter valued at $6,980,000. Vestcor Inc grew its stake in Rayonier by 3,590.1% during the fourth quarter. Vestcor Inc now owns 128,231 shares of the real estate investment trust’s stock valued at $2,776,000 after acquiring an additional 124,756 shares in the last quarter. Finally, HighTower Advisors LLC increased its holdings in Rayonier by 61.3% in the 4th quarter. HighTower Advisors LLC now owns 139,706 shares of the real estate investment trust’s stock valued at $3,025,000 after acquiring an additional 53,087 shares during the last quarter. 89.12% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RYN has been the topic of several research analyst reports. Citigroup decreased their price target on shares of Rayonier from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. Wall Street Zen raised Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, April 18th. BMO Capital Markets decreased their target price on Rayonier from $26.00 to $25.00 and set a “market perform” rating on the stock in a research report on Tuesday, May 19th. Royal Bank Of Canada set a $24.00 price target on Rayonier in a research note on Thursday, April 16th. Finally, Weiss Ratings cut Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $24.60.

Rayonier Price Performance

RYN stock opened at $21.59 on Monday. Rayonier Inc. has a 52 week low of $19.49 and a 52 week high of $27.33. The firm has a market capitalization of $6.49 billion, a P/E ratio of 7.15 and a beta of 0.88. The company has a fifty day simple moving average of $21.14 and a two-hundred day simple moving average of $21.52. The company has a quick ratio of 2.21, a current ratio of 2.53 and a debt-to-equity ratio of 0.35.

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

Rayonier Announces Dividend

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

About Rayonier

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.