Brevan Howard Capital Management LP Makes New $324,000 Investment in Rayonier Inc. (NYSE:RYN)

Brevan Howard Capital Management LP bought a new position in Rayonier Inc. (NYSE:RYN - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 12,406 shares of the real estate investment trust's stock, valued at approximately $324,000.

Several other hedge funds also recently bought and sold shares of RYN. Ancora Advisors LLC increased its stake in Rayonier by 1.4% in the 4th quarter. Ancora Advisors LLC now owns 347,630 shares of the real estate investment trust's stock worth $9,073,000 after acquiring an additional 4,760 shares during the last quarter. Schonfeld Strategic Advisors LLC bought a new position in shares of Rayonier in the fourth quarter worth approximately $416,000. Northern Trust Corp grew its holdings in shares of Rayonier by 17.9% in the fourth quarter. Northern Trust Corp now owns 1,543,523 shares of the real estate investment trust's stock worth $40,286,000 after purchasing an additional 234,629 shares during the last quarter. Quarry LP bought a new stake in Rayonier in the fourth quarter valued at $173,000. Finally, Pinebridge Investments L.P. boosted its holdings in Rayonier by 42.7% in the fourth quarter. Pinebridge Investments L.P. now owns 76,059 shares of the real estate investment trust's stock valued at $1,985,000 after acquiring an additional 22,753 shares in the last quarter. Hedge funds and other institutional investors own 89.12% of the company's stock.

Rayonier Price Performance

RYN traded down $0.31 during trading hours on Wednesday, hitting $23.59. The company's stock had a trading volume of 866,263 shares, compared to its average volume of 841,368. The stock has a market cap of $3.67 billion, a price-to-earnings ratio of 10.00 and a beta of 1.07. The business's 50-day moving average price is $25.65 and its 200-day moving average price is $27.15. Rayonier Inc. has a 12 month low of $22.80 and a 12 month high of $31.29. The company has a current ratio of 1.12, a quick ratio of 1.85 and a debt-to-equity ratio of 0.61.

Rayonier (NYSE:RYN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.10). The company had revenue of $82.90 million during the quarter, compared to analysts' expectations of $152.99 million. Rayonier had a return on equity of 3.86% and a net margin of 28.44%. The company's quarterly revenue was down 27.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.01 EPS. Sell-side analysts expect that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on RYN shares. Royal Bank of Canada dropped their target price on shares of Rayonier from $28.00 to $27.00 and set a "sector perform" rating on the stock in a report on Friday, May 2nd. Citigroup lowered their target price on shares of Rayonier from $32.00 to $25.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 15th. StockNews.com upgraded shares of Rayonier from a "sell" rating to a "hold" rating in a research note on Tuesday. Raymond James raised shares of Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 target price for the company in a report on Wednesday, March 12th. Finally, Truist Financial cut their target price on shares of Rayonier from $30.00 to $27.00 and set a "hold" rating for the company in a research note on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Rayonier currently has an average rating of "Hold" and a consensus price target of $27.50.

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.