Journey Retirement Planning & Investment Management LLC Acquires 34,802 Shares of Rayonier Inc. $RYN

Journey Retirement Planning & Investment Management LLC bought a new position in shares of Rayonier Inc. (NYSE:RYN) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 34,802 shares of the real estate investment trust’s stock, valued at approximately $639,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. acquired a new stake in Rayonier during the 2nd quarter worth about $617,451,000. Cohen & Steers Inc. boosted its position in shares of Rayonier by 5.6% during the 4th 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 in the last quarter. Legal & General Group Plc bought a new position in shares of Rayonier during the 2nd quarter worth approximately $213,574,000. Pictet Asset Management Holding SA grew its position 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 worth $101,563,000 after buying an additional 1,463,118 shares during the period. Finally, Deprince Race & Zollo Inc. bought a new stake in shares of Rayonier in the 1st quarter valued at $85,771,000. Institutional investors and hedge funds own 89.12% of the company’s stock.

Insider Transactions at Rayonier

In other Rayonier news, EVP Mark Bridwell sold 5,318 shares of the business’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $20.19, for a total value of $107,370.42. Following the transaction, the executive vice president directly owned 131,661 shares in the company, valued at $2,658,235.59. The trade was a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 6,219 shares of company stock worth $124,088 in the last three months. Company insiders own 0.85% of the company’s stock.

Rayonier Stock Up 0.6%

RYN stock traded up $0.10 during trading on Friday, reaching $18.70. The stock had a trading volume of 1,945,569 shares, compared to its average volume of 3,010,894. Rayonier Inc. has a one year low of $17.71 and a one year high of $26.45. The company’s 50 day moving average is $20.33 and its two-hundred day moving average is $20.79. The company has a quick ratio of 2.91, a current ratio of 3.56 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $5.57 billion, a price-to-earnings ratio of 41.55 and a beta of 0.89.

Rayonier (NYSE:RYN) last announced its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.10 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.10. The firm had revenue of $396.51 million for the quarter, compared to the consensus estimate of $374.28 million. Rayonier had a return on equity of 3.49% and a net margin of 7.83%.The company’s revenue was up 272.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.06 EPS. Equities research analysts forecast that Rayonier Inc. will post 0.44 EPS for the current year.

Rayonier Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $1.04 annualized dividend and a dividend yield of 5.6%. Rayonier’s dividend payout ratio (DPR) is currently 231.11%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Rayonier from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, August 21st. Citigroup reduced their price objective on Rayonier from $23.00 to $19.00 and set a “neutral” rating for the company in a research note on Monday. Seaport Research Partners reaffirmed a “buy” rating and set a $30.00 target price on shares of Rayonier in a research report on Thursday. Finally, Truist Financial reduced their price target on shares of Rayonier from $25.00 to $24.00 and set a “hold” rating for the company in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $24.00.

Rayonier Company Profile

Rayonier Inc (NYSE:RYN) is a real estate investment trust that owns, leases and manages timberlands. The company generates revenue primarily from the sale of timber and logs, as well as from real estate transactions and leases involving its land holdings.

Rayonier’s timber operations span the U.S. South, the Pacific Northwest and New Zealand. Its products include timber used in construction, packaging, paper and other wood-related applications. The company also pursues opportunities involving rural land, conservation, renewable energy and other alternative uses of its properties.

Founded in 1926, Rayonier has evolved from a forest-products company into a publicly traded timberland owner and manager.