Wolverine Asset Management LLC acquired a new stake in shares of Rayonier Inc. (NYSE:RYN – Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 35,000 shares of the real estate investment trust’s stock, valued at approximately $976,000.
A number of other institutional investors have also recently made changes to their positions in RYN. Securian Asset Management Inc. increased its position in Rayonier by 4.6% during the 1st quarter. Securian Asset Management Inc. now owns 10,603 shares of the real estate investment trust’s stock valued at $296,000 after buying an additional 466 shares in the last quarter. Shell Asset Management Co. grew its stake in shares of Rayonier by 4.5% during the fourth quarter. Shell Asset Management Co. now owns 11,652 shares of the real estate investment trust’s stock worth $304,000 after acquiring an additional 497 shares during the last quarter. Hollencrest Capital Management increased its holdings in shares of Rayonier by 5.1% during the first quarter. Hollencrest Capital Management now owns 10,509 shares of the real estate investment trust’s stock valued at $293,000 after acquiring an additional 509 shares in the last quarter. Covestor Ltd raised its position in shares of Rayonier by 30.0% in the 4th quarter. Covestor Ltd now owns 2,317 shares of the real estate investment trust’s stock valued at $60,000 after purchasing an additional 535 shares during the last quarter. Finally, Hamilton Point Investment Advisors LLC raised its position in shares of Rayonier by 4.5% in the 1st quarter. Hamilton Point Investment Advisors LLC now owns 13,183 shares of the real estate investment trust’s stock valued at $368,000 after purchasing an additional 563 shares during the last quarter. Institutional investors and hedge funds own 89.12% of the company’s stock.
Analysts Set New Price Targets
Several analysts have weighed in on RYN shares. Truist Financial dropped their target price on shares of Rayonier from $30.00 to $27.00 and set a “hold” rating on the stock in a research report on Tuesday, April 22nd. Wall Street Zen upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday. Citigroup cut their target price on Rayonier from $27.00 to $26.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 3rd. Finally, Royal Bank Of Canada raised their target price on Rayonier from $26.00 to $27.00 and gave the stock a “sector perform” rating in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $27.75.
Rayonier Stock Performance
RYN opened at $26.02 on Friday. The company has a current ratio of 3.50, a quick ratio of 2.60 and a debt-to-equity ratio of 0.37. Rayonier Inc. has a 12-month low of $21.84 and a 12-month high of $32.88. The firm has a 50 day moving average of $23.42 and a two-hundred day moving average of $24.80. The firm has a market capitalization of $4.05 billion, a PE ratio of 5.26 and a beta of 1.00.
Rayonier (NYSE:RYN – Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. The firm had revenue of $106.50 million for the quarter, compared to analyst estimates of $95.30 million. Rayonier had a net margin of 68.53% and a return on equity of 3.39%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.02 earnings per share. On average, analysts anticipate that Rayonier Inc. will post 0.55 EPS for the current year.
Rayonier Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a dividend of $0.2725 per share. The ex-dividend date is Tuesday, September 16th. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.2%. Rayonier’s dividend payout ratio (DPR) is presently 22.02%.
Rayonier 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.
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