Public Employees Retirement System of Ohio Increases Stock Position in Rayonier Inc. $RYN

Public Employees Retirement System of Ohio increased its holdings in Rayonier Inc. (NYSE:RYN) by 82.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 92,350 shares of the real estate investment trust’s stock after buying an additional 41,771 shares during the period. Public Employees Retirement System of Ohio’s holdings in Rayonier were worth $1,904,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Baker Ellis Asset Management LLC raised its holdings in Rayonier by 3.8% during the 4th quarter. Baker Ellis Asset Management LLC now owns 12,942 shares of the real estate investment trust’s stock valued at $280,000 after acquiring an additional 469 shares during the period. Bfsg LLC grew its position in shares of Rayonier by 0.6% in the fourth quarter. Bfsg LLC now owns 78,219 shares of the real estate investment trust’s stock valued at $1,693,000 after purchasing an additional 492 shares in the last quarter. Quarry LP raised its stake in shares of Rayonier by 19.8% during the 4th quarter. Quarry LP now owns 3,012 shares of the real estate investment trust’s stock valued at $65,000 after purchasing an additional 498 shares during the period. Greenwood Gearhart Inc. raised its stake in shares of Rayonier by 4.9% during the 4th quarter. Greenwood Gearhart Inc. now owns 10,802 shares of the real estate investment trust’s stock valued at $234,000 after purchasing an additional 502 shares during the period. Finally, Hartford Financial Management Inc. lifted its holdings in Rayonier by 49.7% during the 4th quarter. Hartford Financial Management Inc. now owns 1,732 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 575 shares in the last quarter. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

Rayonier Price Performance

Shares of NYSE RYN opened at $21.83 on Friday. The firm has a market capitalization of $6.57 billion, a P/E ratio of 7.23 and a beta of 0.88. The company has a quick ratio of 2.21, a current ratio of 2.53 and a debt-to-equity ratio of 0.35. The stock’s 50-day simple moving average is $21.30 and its two-hundred day simple moving average is $21.50. Rayonier Inc. has a twelve month low of $19.49 and a twelve month high of $27.33.

Rayonier (NYSE:RYN) last released its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.01. Rayonier had a return on equity of 3.61% and a net margin of 68.61%.The firm had revenue of $276.79 million for the quarter, compared to analysts’ expectations of $280.92 million. During the same quarter last year, the firm posted ($0.02) EPS. The company’s revenue was up 233.9% compared to the same quarter last year. As a group, equities analysts anticipate that Rayonier Inc. will post 0.4 EPS for the current fiscal year.

Rayonier Dividend Announcement

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

Analyst Ratings Changes

RYN has been the subject of several analyst reports. Royal Bank Of Canada set a $24.00 target price on Rayonier in a research note on Thursday, April 16th. BMO Capital Markets cut their price objective on shares of Rayonier from $26.00 to $25.00 and set a “market perform” rating for the company in a research report on Tuesday, May 19th. Weiss Ratings cut shares of Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. Citigroup decreased their target price on shares of Rayonier from $24.00 to $22.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. Finally, Truist Financial lowered their target price on shares of Rayonier from $25.00 to $24.00 and set a “hold” rating on the stock in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Rayonier presently has an average rating of “Hold” and an average price target of $24.60.

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.