Rayonier Inc. $RYN Shares Acquired by Mountain Hill Investment Partners Corp.

Mountain Hill Investment Partners Corp. lifted its holdings in shares of Rayonier Inc. (NYSE:RYN) by 32.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,440 shares of the real estate investment trust’s stock after acquiring an additional 4,993 shares during the period. Mountain Hill Investment Partners Corp.’s holdings in Rayonier were worth $453,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Strs Ohio raised its position in shares of Rayonier by 31.2% during the 2nd quarter. Strs Ohio now owns 64,165 shares of the real estate investment trust’s stock worth $1,423,000 after acquiring an additional 15,248 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in shares of Rayonier during the 2nd quarter worth about $819,000. Envestnet Asset Management Inc. raised its position in shares of Rayonier by 46.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 33,333 shares of the real estate investment trust’s stock worth $739,000 after acquiring an additional 10,558 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Rayonier by 30.7% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 14,390 shares of the real estate investment trust’s stock worth $319,000 after acquiring an additional 3,382 shares in the last quarter. Finally, Brighton Jones LLC raised its position in shares of Rayonier by 186.3% during the 2nd quarter. Brighton Jones LLC now owns 23,019 shares of the real estate investment trust’s stock worth $511,000 after acquiring an additional 14,978 shares in the last quarter. Institutional investors and hedge funds own 89.12% of the company’s stock.

Wall Street Analysts Forecast Growth

RYN has been the topic of several research analyst reports. Citigroup raised their target price on Rayonier from $26.00 to $27.00 and gave the stock a “neutral” rating in a research report on Thursday, August 21st. Weiss Ratings restated a “hold (c)” rating on shares of Rayonier in a research note on Tuesday, October 14th. Royal Bank Of Canada raised their price target on Rayonier from $26.00 to $27.00 and gave the stock 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 investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $28.00.

Rayonier Trading Down 2.1%

NYSE:RYN opened at $22.07 on Friday. The stock’s 50 day moving average price is $25.58 and its 200 day moving average price is $24.53. The company has a market capitalization of $3.40 billion, a PE ratio of 4.46 and a beta of 0.99. The company has a quick ratio of 3.38, a current ratio of 3.50 and a debt-to-equity ratio of 0.37. Rayonier Inc. has a 52-week low of $21.84 and a 52-week high of $32.88.

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

Rayonier Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th will be issued a dividend of $0.2725 per share. The ex-dividend date of this dividend is Wednesday, December 10th. This represents a $1.09 annualized dividend and a yield of 4.9%. Rayonier’s payout ratio is currently 22.02%.

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.