Columbus Macro LLC Purchases New Holdings in Rayonier Inc. $RYN

Columbus Macro LLC purchased a new stake in Rayonier Inc. (NYSE:RYN) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 391,855 shares of the real estate investment trust’s stock, valued at approximately $8,080,000.

Other institutional investors have also recently made changes to their positions in the company. Louisiana State Employees Retirement System acquired a new stake in shares of Rayonier in the 1st quarter valued at approximately $1,662,000. Kestra Private Wealth Services LLC bought a new position in shares of Rayonier in the first quarter valued at $366,000. Blue Trust Inc. increased its holdings in Rayonier by 89.5% during the first quarter. Blue Trust Inc. now owns 6,793 shares of the real estate investment trust’s stock worth $140,000 after buying an additional 3,208 shares during the last quarter. CENTRAL TRUST Co increased its holdings in Rayonier by 477.3% during the first quarter. CENTRAL TRUST Co now owns 3,781 shares of the real estate investment trust’s stock worth $78,000 after buying an additional 3,126 shares during the last quarter. Finally, Krilogy Financial LLC raised its position in Rayonier by 29.2% during the first quarter. Krilogy Financial LLC now owns 32,534 shares of the real estate investment trust’s stock worth $684,000 after acquiring an additional 7,360 shares in the last quarter. Institutional investors and hedge funds own 89.12% of the company’s stock.

Rayonier Stock Up 0.8%

RYN opened at $21.86 on Friday. Rayonier Inc. has a 1-year low of $19.49 and a 1-year high of $27.33. The stock’s fifty day simple moving average is $20.87 and its 200 day simple moving average is $21.57. The company has a current ratio of 2.53, a quick ratio of 2.21 and a debt-to-equity ratio of 0.35. The stock has a market cap of $6.57 billion, a PE ratio of 7.24 and a beta of 0.88.

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

Rayonier Announces Dividend

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

Analysts Set New Price Targets

RYN has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, April 18th. Truist Financial boosted their price objective on shares of Rayonier from $24.00 to $25.00 and gave the stock a “hold” rating in a research note on Monday, May 11th. Citigroup dropped 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. Weiss Ratings downgraded shares of Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. Finally, BMO Capital Markets reduced their price target 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 equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $24.80.

Insider Activity

In related news, CFO Wayne Wasechek sold 2,920 shares of Rayonier stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $21.17, for a total transaction of $61,816.40. Following the completion of the sale, the chief financial officer owned 115,530 shares of the company’s stock, valued at approximately $2,445,770.10. The trade was a 2.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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. Corporate insiders own 0.85% of the company’s stock.

Rayonier Profile

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.