43,214 Shares in Rayonier Inc. $RYN Purchased by Sankala Group LLC

Sankala Group LLC purchased a new position in Rayonier Inc. (NYSE:RYN) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 43,214 shares of the real estate investment trust’s stock, valued at approximately $929,000. Rayonier makes up 0.8% of Sankala Group LLC’s portfolio, making the stock its 27th biggest holding.

A number of other institutional investors and hedge funds also recently bought and sold shares of RYN. Vanguard Group Inc. boosted its position in shares of Rayonier by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 21,174,792 shares of the real estate investment trust’s stock valued at $458,434,000 after purchasing an additional 444,503 shares in the last quarter. Norges Bank acquired a new stake in Rayonier during the fourth quarter valued at approximately $313,806,000. Cohen & Steers Inc. lifted its stake in Rayonier by 5.6% during the fourth quarter. Cohen & Steers Inc. now owns 13,548,815 shares of the real estate investment trust’s stock valued at $293,332,000 after purchasing an additional 717,021 shares during the last quarter. 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 purchasing an additional 3,947,226 shares during the last quarter. Finally, State Street Corp boosted its holdings in Rayonier by 5.0% during the fourth quarter. State Street Corp now owns 4,779,300 shares of the real estate investment trust’s stock worth $103,472,000 after buying an additional 226,012 shares in the last quarter. 89.12% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RYN has been the topic of several research reports. Weiss Ratings cut Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, May 12th. Royal Bank Of Canada set a $24.00 price objective on Rayonier in a research note on Thursday, April 16th. Truist Financial lifted their target price on Rayonier from $24.00 to $25.00 and gave the stock a “hold” rating in a report on Monday, May 11th. Wall Street Zen raised Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, April 18th. Finally, Citigroup cut their target price on Rayonier from $24.00 to $22.00 and set a “neutral” rating on the stock 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $24.80.

Rayonier Stock Performance

Rayonier stock opened at $20.93 on Friday. The firm’s 50 day simple moving average is $20.87 and its 200-day simple moving average is $21.57. The company has a market cap of $6.30 billion, a P/E ratio of 6.93 and a beta of 0.88. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.53 and a quick ratio of 2.21. Rayonier Inc. has a fifty-two week low of $19.49 and a fifty-two week high of $27.33.

Rayonier (NYSE:RYN) last issued its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.07 EPS for the quarter, beating the consensus estimate of $0.06 by $0.01. Rayonier had a net margin of 68.61% and a return on equity of 3.61%. The business had revenue of $276.79 million during the quarter, compared to the consensus estimate of $280.92 million. During the same quarter in the prior year, the firm earned ($0.02) EPS. The firm’s quarterly revenue was up 233.9% on a year-over-year basis. As a group, equities research analysts predict that Rayonier Inc. will post 0.36 EPS for the current year.

Rayonier Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Tuesday, June 16th. Rayonier’s payout ratio is 34.44%.

Insider Activity

In other news, CFO Wayne Wasechek sold 2,920 shares of the stock in a transaction on Monday, April 20th. The stock was sold at an average price of $21.17, for a total value of $61,816.40. Following the completion of the sale, the chief financial officer owned 115,530 shares in the company, valued at $2,445,770.10. This represents a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.85% of the stock is owned by insiders.

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.