Capital Square LLC Takes Position in Rayonier Inc. $RYN

Capital Square LLC acquired a new position in shares of Rayonier Inc. (NYSE:RYN) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 65,410 shares of the real estate investment trust’s stock, valued at approximately $1,391,000.

Several other large investors have also modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of Rayonier during the second quarter valued at $617,451,000. Norges Bank purchased a new position in Rayonier in the 4th quarter worth about $313,806,000. Deprince Race & Zollo Inc. acquired a new stake in Rayonier during the 1st quarter worth about $85,771,000. Fuller & Thaler Asset Management Inc. lifted its stake in Rayonier by 232.2% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,647,156 shares of the real estate investment trust’s stock valued at $122,261,000 after buying an additional 3,947,226 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Rayonier during the second quarter valued at about $52,572,000. 89.12% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RYN has been the topic of a number of recent analyst reports. Weiss Ratings upgraded shares of Rayonier from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday. Citigroup raised their price objective on shares of Rayonier from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Truist Financial lowered their price objective on shares of Rayonier from $25.00 to $24.00 and set a “hold” rating on the stock in a research report on Wednesday, July 15th. Finally, BMO Capital Markets reduced their target price on Rayonier from $26.00 to $25.00 and set a “market perform” rating for the company in a report on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $24.80.

Rayonier Stock Performance

RYN stock opened at $21.13 on Monday. The firm has a 50 day simple moving average of $21.49 and a 200 day simple moving average of $21.27. Rayonier Inc. has a 52 week low of $19.49 and a 52 week high of $27.33. The stock has a market cap of $6.29 billion, a P/E ratio of 46.96 and a beta of 0.87. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.91 and a current ratio of 3.56.

Rayonier (NYSE:RYN) last released its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. Rayonier had a net margin of 7.83% and a return on equity of 3.49%. The firm had revenue of $396.51 million for the quarter, compared to analyst estimates of $374.28 million. During the same quarter in the prior year, the business earned $0.06 EPS. The company’s revenue for the quarter was up 272.3% compared to the same quarter last year. Research analysts anticipate that Rayonier Inc. will post 0.42 earnings per share for the current fiscal year.

Rayonier Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.9%. Rayonier’s dividend payout ratio is 231.11%.

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.