Principal Financial Group Inc. Buys 82,000 Shares of Rayonier Inc. (NYSE:RYN)

Principal Financial Group Inc. increased its stake in shares of Rayonier Inc. (NYSE:RYNGet Rating) by 16.6% during the 2nd quarter, Holdings Channel reports. The fund owned 575,918 shares of the real estate investment trust’s stock after acquiring an additional 82,000 shares during the period. Principal Financial Group Inc.’s holdings in Rayonier were worth $21,528,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of RYN. Diamond Hill Capital Management Inc. boosted its stake in Rayonier by 43.4% during the first quarter. Diamond Hill Capital Management Inc. now owns 1,871,996 shares of the real estate investment trust’s stock worth $76,976,000 after acquiring an additional 566,152 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Rayonier by 5.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 8,632,041 shares of the real estate investment trust’s stock valued at $354,950,000 after buying an additional 413,374 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Rayonier by 31.3% in the first quarter. Northern Trust Corp now owns 1,450,004 shares of the real estate investment trust’s stock valued at $59,624,000 after buying an additional 345,821 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Rayonier by 1.5% in the first quarter. Vanguard Group Inc. now owns 20,773,615 shares of the real estate investment trust’s stock valued at $854,211,000 after buying an additional 302,477 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Rayonier by 4.6% in the first quarter. State Street Corp now owns 3,836,074 shares of the real estate investment trust’s stock valued at $157,739,000 after buying an additional 169,024 shares in the last quarter. 87.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Rayonier in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock.

Rayonier Stock Up 0.9 %

Rayonier stock opened at $35.51 on Monday. The firm’s fifty day moving average price is $32.97 and its two-hundred day moving average price is $35.92. The firm has a market capitalization of $5.20 billion, a price-to-earnings ratio of 63.41 and a beta of 0.88. The company has a current ratio of 3.16, a quick ratio of 2.88 and a debt-to-equity ratio of 0.69. Rayonier Inc. has a 1-year low of $29.51 and a 1-year high of $45.87.

Rayonier Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 16th will be issued a $0.285 dividend. The ex-dividend date is Thursday, December 15th. This represents a $1.14 annualized dividend and a dividend yield of 3.21%. Rayonier’s dividend payout ratio is currently 203.57%.

About Rayonier

(Get Rating)

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, 2020, Rayonier owned or leased under long-term agreements approximately 2.7 million acres of timberlands located in the U.S.

Further Reading

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Institutional Ownership by Quarter for Rayonier (NYSE:RYN)

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