Pallas Capital Advisors LLC bought a new position in shares of Rayonier Inc. (NYSE:RYN - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,863 shares of the real estate investment trust's stock, valued at approximately $498,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Harvest Fund Management Co. Ltd acquired a new stake in shares of Rayonier during the fourth quarter worth $25,000. American National Bank & Trust bought a new position in shares of Rayonier during the first quarter worth about $28,000. Parallel Advisors LLC grew its position in shares of Rayonier by 133.5% during the first quarter. Parallel Advisors LLC now owns 1,123 shares of the real estate investment trust's stock worth $31,000 after acquiring an additional 642 shares during the last quarter. Steward Partners Investment Advisory LLC grew its position in shares of Rayonier by 264.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,677 shares of the real estate investment trust's stock worth $44,000 after acquiring an additional 1,217 shares during the last quarter. Finally, Covestor Ltd grew its position in 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 buying an additional 535 shares in the last quarter. 89.12% of the stock is owned by institutional investors and hedge funds.
Rayonier Stock Down 2.1%
Rayonier stock traded down $0.50 during mid-day trading on Monday, reaching $22.93. The company's stock had a trading volume of 1,114,680 shares, compared to its average volume of 878,866. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of 9.72 and a beta of 1.05. Rayonier Inc. has a 12 month low of $22.80 and a 12 month high of $31.29. The business's 50 day simple moving average is $23.98 and its 200 day simple moving average is $25.89. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.85 and a current ratio of 1.12.
Rayonier (NYSE:RYN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported ($0.02) EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($0.10). The firm had revenue of $82.90 million during the quarter, compared to analyst estimates of $152.99 million. Rayonier had a net margin of 28.44% and a return on equity of 3.86%. The business's revenue was down 27.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.01 EPS. As a group, research analysts anticipate that Rayonier Inc. will post 0.55 earnings per share for the current year.
Rayonier Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a $0.2725 dividend. This represents a $1.09 annualized dividend and a yield of 4.75%. The ex-dividend date is Monday, June 16th. Rayonier's dividend payout ratio is currently 46.78%.
Analysts Set New Price Targets
RYN has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Rayonier from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Royal Bank of Canada lowered their price target 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 decreased their price objective on shares of Rayonier from $27.00 to $26.00 and set a "neutral" rating for the company in a report on Tuesday, June 3rd. Truist Financial cut their price objective on Rayonier from $30.00 to $27.00 and set a "hold" rating on the stock in a research note on Tuesday, April 22nd. Finally, Raymond James raised Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 target price on the stock in a report on Wednesday, March 12th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $27.75.
Get Our Latest Stock Analysis on Rayonier
Rayonier Profile
(
Free Report)
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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