Salvus Wealth Management LLC Makes New Investment in Rayonier Inc. $RYN

Salvus Wealth Management LLC purchased a new stake in shares of Rayonier Inc. (NYSE:RYN) in the second quarter, HoldingsChannel reports. The firm purchased 32,880 shares of the real estate investment trust’s stock, valued at approximately $700,000.

A number of other institutional investors and hedge funds have also made changes to their positions in RYN. Northwestern Mutual Wealth Management Co. boosted its position in shares of Rayonier by 65.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,581 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 627 shares during the period. Eurizon Capital SGR S.p.A. purchased a new stake in Rayonier in the fourth quarter valued at approximately $34,000. Bayban purchased a new stake in Rayonier in the first quarter valued at approximately $36,000. Whittier Trust Co. raised its position 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 valued at $47,000 after purchasing an additional 969 shares during the period. Finally, North Star Investment Management Corp. acquired a new position in Rayonier during the first quarter worth $51,000. 89.12% of the stock is owned by hedge funds and other institutional investors.

Rayonier Stock Down 0.7%

RYN stock opened at $21.64 on Tuesday. The company has a current ratio of 3.56, a quick ratio of 2.91 and a debt-to-equity ratio of 0.36. Rayonier Inc. has a twelve month low of $19.49 and a twelve month high of $27.33. The company’s 50 day moving average is $21.43 and its two-hundred day moving average is $21.39. The stock has a market cap of $6.51 billion, a P/E ratio of 48.09 and a beta of 0.87.

Rayonier (NYSE:RYN) last issued its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. Rayonier had a net margin of 7.83% and a return on equity of 3.49%. The business had revenue of $396.51 million during the quarter, compared to the consensus estimate of $374.28 million. During the same quarter in the previous year, the firm earned $0.06 EPS. The company’s revenue was up 272.3% compared to the same quarter last year. Research analysts expect that Rayonier Inc. will post 0.39 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. Investors of record on Wednesday, September 16th will be given 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 yield of 4.8%. Rayonier’s payout ratio is 231.11%.

Analysts Set New Price Targets

RYN has been the subject of several research analyst reports. Weiss Ratings restated a “sell (d+)” rating on shares of Rayonier in a research report on Friday. Citigroup increased their target price on Rayonier from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Monday. Royal Bank Of Canada set a $24.00 target price on Rayonier in a research 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. Finally, Truist Financial dropped their price objective on shares of Rayonier from $25.00 to $24.00 and set a “hold” rating for the company in a report on Wednesday, July 15th. One equities 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 data from MarketBeat.com, the company currently has an average rating of “Hold” and an average 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.