Bayforest Capital Ltd Takes Position in Rayonier Inc. (NYSE:RYN)

Bayforest Capital Ltd acquired a new stake in shares of Rayonier Inc. (NYSE:RYN - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 20,021 shares of the real estate investment trust's stock, valued at approximately $558,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Securian Asset Management Inc. grew its stake in shares of 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 worth $296,000 after purchasing an additional 466 shares during the period. Shell Asset Management Co. boosted its holdings in 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 buying an additional 497 shares in the last quarter. Hollencrest Capital Management boosted its holdings in Rayonier by 5.1% during the first quarter. Hollencrest Capital Management now owns 10,509 shares of the real estate investment trust's stock worth $293,000 after buying an additional 509 shares in the last quarter. Covestor Ltd grew its position in Rayonier by 30.0% during the fourth quarter. Covestor Ltd now owns 2,317 shares of the real estate investment trust's stock worth $60,000 after buying an additional 535 shares during the period. Finally, Hamilton Point Investment Advisors LLC increased its holdings in Rayonier by 4.5% in the first quarter. Hamilton Point Investment Advisors LLC now owns 13,183 shares of the real estate investment trust's stock valued at $368,000 after buying an additional 563 shares in the last quarter. 89.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Royal Bank Of Canada decreased their price target on Rayonier from $28.00 to $27.00 and set a "sector perform" rating on the stock in a research note on Friday, May 2nd. Truist Financial lowered their target price on Rayonier from $30.00 to $27.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. Wall Street Zen upgraded Rayonier from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, Citigroup decreased their price objective on shares of Rayonier from $27.00 to $26.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 3rd. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Rayonier presently has a consensus rating of "Hold" and a consensus target price of $27.75.

Rayonier Price Performance

RYN stock traded up $0.13 on Friday, reaching $23.44. The company had a trading volume of 1,192,953 shares, compared to its average volume of 1,049,045. Rayonier Inc. has a 1 year low of $21.84 and a 1 year high of $32.88. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.60 and a current ratio of 2.71. The company's fifty day moving average is $23.31 and its 200 day moving average is $24.86. The company has a market cap of $3.65 billion, a P/E ratio of 10.06 and a beta of 1.00.

Rayonier (NYSE:RYN - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported ($0.02) earnings per share for the quarter, missing analysts' consensus estimates of $0.08 by ($0.10). Rayonier had a return on equity of 3.29% and a net margin of 30.09%. The company had revenue of $82.90 million during the quarter, compared to analyst estimates of $152.99 million. During the same period last year, the firm earned $0.01 earnings per share. The business's revenue was down 27.1% compared to the same quarter last year. On average, research analysts forecast that Rayonier Inc. will post 0.55 earnings per share for the current year.

Rayonier Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a $0.2725 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.09 annualized dividend and a yield of 4.7%. Rayonier's payout ratio is presently 46.78%.

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.