Jupiter Topco LLC Invests $2.51 Million in Rayonier Inc. $RYN

Jupiter Topco LLC acquired a new stake in Rayonier Inc. (NYSE:RYN) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 117,927 shares of the real estate investment trust’s stock, valued at approximately $2,511,000.

Other institutional investors have also modified their holdings of the company. Hsbc Holdings PLC purchased a new position in shares of Rayonier during the second quarter valued at approximately $250,000. Ancora Advisors LLC purchased a new stake in Rayonier in the 2nd quarter worth approximately $31,589,000. Legal & General Group Plc acquired a new position in Rayonier in the 2nd quarter valued at $213,574,000. The Manufacturers Life Insurance Company acquired a new position in Rayonier in the 2nd quarter valued at $16,716,000. Finally, L2 Asset Management LLC purchased a new position in shares of Rayonier during the 2nd quarter worth $801,000. Institutional investors and hedge funds own 89.12% of the company’s stock.

Rayonier Stock Performance

Shares of NYSE:RYN opened at $20.20 on Thursday. The firm has a market capitalization of $6.01 billion, a PE ratio of 44.88 and a beta of 0.87. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.56 and a quick ratio of 2.91. The business has a 50-day moving average of $21.43 and a two-hundred day moving average of $21.17. Rayonier Inc. has a 12 month low of $19.49 and a 12 month high of $27.06.

Rayonier (NYSE:RYN) last released its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. Rayonier had a return on equity of 3.49% and a net margin of 7.83%.The business had revenue of $396.51 million for the quarter, compared to analyst estimates of $374.28 million. During the same period in the previous year, the company posted $0.06 EPS. The company’s revenue was up 272.3% compared to the same quarter last year. As a group, research analysts forecast that Rayonier Inc. will post 0.44 earnings per share for the current year.

Rayonier Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be issued a $0.26 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $1.04 annualized dividend and a yield of 5.1%. Rayonier’s dividend payout ratio (DPR) is presently 231.11%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on RYN shares. Weiss Ratings upgraded Rayonier from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, August 21st. Citigroup upped their target price on Rayonier from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. BMO Capital Markets reduced their target price on Rayonier from $26.00 to $25.00 and set a “market perform” rating on the stock in a research report on Tuesday, May 19th. Finally, Truist Financial decreased their price target on Rayonier from $25.00 to $24.00 and set a “hold” rating on the stock in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Rayonier presently has an average rating of “Hold” and a consensus price target of $24.80.

Rayonier Profile

Rayonier, Inc (NYSE: RYN) is a publicly traded real estate investment trust specializing in timberland ownership and management. The company’s core business revolves around sustainably growing, harvesting, and marketing timber and timber-related products. Rayonier’s timberland portfolio encompasses approximately 2.7 million acres across the United States and New Zealand, focusing on softwood and hardwood fiber for use in paper, packaging and building materials.

Rayonier operates through two primary segments: Timber and Real Estate Solutions.