Comprehensive Money Management Services LLC Acquires 7,331 Shares of Rayonier Inc. $RYN

Comprehensive Money Management Services LLC lifted its holdings in Rayonier Inc. (NYSE:RYN) by 22.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 40,126 shares of the real estate investment trust’s stock after purchasing an additional 7,331 shares during the period. Comprehensive Money Management Services LLC’s holdings in Rayonier were worth $890,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Rayonier by 2.2% in the first quarter. Vanguard Group Inc. now owns 20,862,953 shares of the real estate investment trust’s stock worth $581,659,000 after purchasing an additional 456,363 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Rayonier by 30.0% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,203,552 shares of the real estate investment trust’s stock worth $117,195,000 after purchasing an additional 971,167 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Rayonier by 4.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,607,211 shares of the real estate investment trust’s stock worth $72,689,000 after purchasing an additional 118,409 shares during the period. Victory Capital Management Inc. increased its stake in shares of Rayonier by 13.8% in the first quarter. Victory Capital Management Inc. now owns 2,515,298 shares of the real estate investment trust’s stock worth $70,127,000 after purchasing an additional 304,803 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Rayonier by 2.5% in the first quarter. Northern Trust Corp now owns 1,582,227 shares of the real estate investment trust’s stock worth $44,112,000 after purchasing an additional 38,704 shares during the period. 89.12% of the stock is currently owned by institutional investors.

Rayonier Stock Down 3.0%

NYSE RYN opened at $25.44 on Friday. The company has a current ratio of 3.50, a quick ratio of 3.38 and a debt-to-equity ratio of 0.37. The stock’s 50 day moving average is $26.16 and its two-hundred day moving average is $24.73. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of 5.14 and a beta of 0.99. Rayonier Inc. has a 1-year low of $21.84 and a 1-year high of $32.88.

Rayonier (NYSE:RYN) last released its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. The company had revenue of $106.50 million for the quarter, compared to the consensus estimate of $95.30 million. Rayonier had a return on equity of 3.39% and a net margin of 68.53%.The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.02 earnings per share. Equities analysts forecast that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.

Rayonier Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were issued a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend was Tuesday, September 16th. Rayonier’s payout ratio is presently 22.02%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RYN. Weiss Ratings reiterated a “hold (c-)” rating on shares of Rayonier in a research note on Saturday, September 27th. Citigroup boosted their price target on Rayonier from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, August 21st. Royal Bank Of Canada boosted their price target on Rayonier from $26.00 to $27.00 and gave the company a “sector perform” rating in a research note on Friday, August 8th. Finally, Wall Street Zen upgraded Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $28.00.

Rayonier Company Profile

Rayonier is a leading timberland real estate investment trust with assets located in some of the most productive softwood timber growing regions in the United States and New Zealand. As of December 31, 2023, Rayonier owned or leased under long-term agreements approximately 2.7 million acres of timberlands located in the U.S.