Assenagon Asset Management S.A. Has $240,000 Stock Holdings in Rayonier Inc. (NYSE:RYN)

Assenagon Asset Management S.A. increased its position in shares of Rayonier Inc. (NYSE:RYNGet Rating) by 14.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,996 shares of the real estate investment trust’s stock after buying an additional 1,007 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Rayonier were worth $240,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in RYN. Pinebridge Investments L.P. raised its stake in shares of Rayonier by 300.0% in the second quarter. Pinebridge Investments L.P. now owns 1,200 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 900 shares during the last quarter. Trust Co. of Vermont raised its position in Rayonier by 319.2% in the 3rd quarter. Trust Co. of Vermont now owns 1,685 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 1,283 shares during the last quarter. Castle Wealth Management LLC bought a new stake in shares of Rayonier during the 2nd quarter valued at $52,000. Montag A & Associates Inc. raised its position in shares of Rayonier by 148.1% during the 2nd quarter. Montag A & Associates Inc. now owns 1,675 shares of the real estate investment trust’s stock valued at $63,000 after acquiring an additional 1,000 shares during the last quarter. Finally, SeaCrest Wealth Management LLC bought a new stake in shares of Rayonier during the 2nd quarter valued at $64,000. 82.87% of the stock is owned by institutional investors and hedge funds.

Rayonier Stock Down 1.1 %

Shares of RYN stock opened at $34.03 on Thursday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 2.88 and a current ratio of 3.16. The firm’s 50-day moving average is $34.62 and its 200-day moving average is $34.68. The stock has a market cap of $4.98 billion, a price-to-earnings ratio of 60.77 and a beta of 0.89. Rayonier Inc. has a 52-week low of $29.51 and a 52-week high of $45.87.

Rayonier Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Friday, December 16th were issued a dividend of $0.285 per share. The ex-dividend date of this dividend was Thursday, December 15th. This represents a $1.14 annualized dividend and a dividend yield of 3.35%. Rayonier’s dividend payout ratio is presently 203.57%.

Analyst Upgrades and Downgrades

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

Rayonier Company Profile

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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.

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Institutional Ownership by Quarter for Rayonier (NYSE:RYN)

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