Edgestream Partners L.P. Lowers Position in Rayonier Inc. $RYN

Edgestream Partners L.P. decreased its position in shares of Rayonier Inc. (NYSE:RYN) by 86.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 19,668 shares of the real estate investment trust’s stock after selling 130,770 shares during the period. Edgestream Partners L.P.’s holdings in Rayonier were worth $406,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Eurizon Capital SGR S.p.A. bought a new position in shares of Rayonier in the 4th quarter worth approximately $34,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Rayonier by 65.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,581 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 627 shares in the last quarter. Bayban purchased a new stake in Rayonier in the first quarter worth $36,000. Hartford Financial Management Inc. grew its stake in Rayonier by 49.7% in the fourth 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 during the period. Finally, Whittier Trust Co. grew its stake in Rayonier by 74.0% in the first quarter. Whittier Trust Co. now owns 2,279 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 969 shares during the period. Institutional investors own 89.12% of the company’s stock.

Rayonier Trading Up 0.3%

NYSE:RYN opened at $21.99 on Thursday. The stock has a market cap of $6.61 billion, a price-to-earnings ratio of 7.28 and a beta of 0.87. 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 company’s 50 day moving average price is $21.38 and its 200-day moving average price is $21.45. Rayonier Inc. has a 52 week low of $19.49 and a 52 week high of $27.33.

Rayonier (NYSE:RYN) last released its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. The business had revenue of $396.50 million for the quarter, compared to analysts’ expectations of $374.28 million. Rayonier had a return on equity of 3.61% and a net margin of 68.61%.The firm’s quarterly revenue was up 272.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.06 EPS. On average, equities research analysts forecast that Rayonier Inc. will post 0.39 earnings per share for the current fiscal year.

Rayonier Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 4.7%. The ex-dividend date is Wednesday, September 16th. Rayonier’s dividend payout ratio (DPR) is presently 34.44%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Truist Financial lowered their price objective on Rayonier from $25.00 to $24.00 and set a “hold” rating for the company in a research report on Wednesday, July 15th. BMO Capital Markets reduced their target price on shares of 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 shares of Rayonier in a research note on Thursday, April 16th. Weiss Ratings cut shares of Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 12th. Finally, Citigroup lowered their price target on shares of Rayonier from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Rayonier has an average rating of “Hold” and an average target price 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.