10,280 Shares in Rayonier Inc. (NYSE:RYN) Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC bought a new position in shares of Rayonier Inc. (NYSE:RYN – Get Rating) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 10,280 shares of the real estate investment trust’s stock, valued at approximately $308,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Securian Asset Management Inc. raised its stake in Rayonier by 2.2% in the second quarter. Securian Asset Management Inc. now owns 13,336 shares of the real estate investment trust’s stock valued at $498,000 after buying an additional 293 shares during the period. Lazard Asset Management LLC raised its stake in Rayonier by 0.3% in the second quarter. Lazard Asset Management LLC now owns 104,998 shares of the real estate investment trust’s stock valued at $3,924,000 after buying an additional 298 shares during the period. State of Michigan Retirement System raised its stake in Rayonier by 0.8% in the second quarter. State of Michigan Retirement System now owns 37,193 shares of the real estate investment trust’s stock valued at $1,390,000 after buying an additional 300 shares during the period. Northwestern Mutual Investment Management Company LLC raised its stake in Rayonier by 1.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 24,487 shares of the real estate investment trust’s stock valued at $915,000 after buying an additional 343 shares during the period. Finally, Commonwealth Equity Services LLC raised its stake in Rayonier by 1.1% in the second quarter. Commonwealth Equity Services LLC now owns 39,417 shares of the real estate investment trust’s stock valued at $1,473,000 after buying an additional 444 shares during the period. Institutional investors own 82.87% of the company’s stock.

Analyst Upgrades and Downgrades

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

Rayonier Price Performance

Shares of NYSE RYN opened at $34.59 on Wednesday. The firm has a market cap of $5.06 billion, a P/E ratio of 61.77 and a beta of 0.89. 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. The business’s 50 day moving average is $34.54 and its 200-day moving average is $34.58.

Rayonier Profile

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Rayonier, Inc is a real estate investment trust, which engages in investment in timberlands. It operates through the following business segments: Southern Timber, Pacific Northwest Timber, New Zealand Timber, Real Estate, Timber Funds and Trading. The Southern Timber, Pacific Northwest Timber and New Zealand Timber segments reflect all activities related to the harvesting of timber and other value-added activities, such as recreational licenses, within each respective geography.