Bernzott Capital Advisors Invests $5.98 Million in Rayonier Inc. $RYN

Bernzott Capital Advisors purchased a new stake in shares of Rayonier Inc. (NYSE:RYN) during the first quarter, HoldingsChannel.com reports. The institutional investor purchased 290,124 shares of the real estate investment trust’s stock, valued at approximately $5,982,000. Rayonier accounts for approximately 2.9% of Bernzott Capital Advisors’ holdings, making the stock its 21st largest position.

Several other institutional investors also recently modified their holdings of RYN. Norges Bank bought a new stake in Rayonier in the 4th quarter worth about $313,806,000. Deprince Race & Zollo Inc. purchased a new stake in shares of Rayonier during the 1st quarter valued at about $85,771,000. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Rayonier by 232.2% during the 4th 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 acquiring an additional 3,947,226 shares during the last quarter. Pictet Asset Management Holding SA boosted its holdings in shares of Rayonier by 42.3% during the 1st quarter. Pictet Asset Management Holding SA now owns 4,925,463 shares of the real estate investment trust’s stock valued at $101,563,000 after acquiring an additional 1,463,118 shares during the last quarter. Finally, Caisse de depot et placement du Quebec bought a new stake in shares of Rayonier in the fourth quarter worth approximately $20,813,000. 89.12% of the stock is owned by hedge funds and other institutional investors.

Rayonier Price Performance

Shares of Rayonier stock opened at $20.94 on Friday. The stock 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 quick ratio of 2.21 and a current ratio of 2.53. The stock’s fifty day moving average is $20.91 and its 200 day moving average is $21.53. Rayonier Inc. has a one year low of $19.49 and a one year 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 (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. The business had revenue of $276.79 million during the quarter, compared to analyst estimates of $280.92 million. Rayonier had a return on equity of 3.61% and a net margin of 68.61%.Rayonier’s revenue for the quarter was up 233.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.02) earnings per share. Sell-side analysts anticipate that Rayonier Inc. will post 0.36 earnings per share for the current year.

Rayonier Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend was Tuesday, June 16th. Rayonier’s payout ratio is presently 34.44%.

Insider Activity

In related news, CFO Wayne Wasechek sold 2,920 shares of the business’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $21.17, for a total transaction of $61,816.40. Following the completion of the transaction, the chief financial officer directly owned 115,530 shares in the company, valued at approximately $2,445,770.10. The trade was a 2.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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. Company insiders own 0.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on RYN shares. Royal Bank Of Canada set a $24.00 price objective on shares of Rayonier in a report on Thursday, April 16th. Wall Street Zen raised shares of Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, April 18th. Weiss Ratings lowered shares of Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. Truist Financial boosted their target price on shares of Rayonier from $24.00 to $25.00 and gave the company a “hold” rating in a research note on Monday, May 11th. Finally, Citigroup lowered their price target on Rayonier from $24.00 to $22.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. One equities research 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $24.80.

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.