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 first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 20,021 shares of the real estate investment trust's stock, valued at approximately $558,000.

A number of other large investors have also added to or reduced their stakes in RYN. Securian Asset Management Inc. lifted its stake in shares of Rayonier by 4.6% in the 1st quarter. Securian Asset Management Inc. now owns 10,603 shares of the real estate investment trust's stock valued at $296,000 after purchasing an additional 466 shares during the last quarter. Shell Asset Management Co. raised its holdings in Rayonier by 4.5% during the 4th quarter. Shell Asset Management Co. now owns 11,652 shares of the real estate investment trust's stock valued at $304,000 after buying an additional 497 shares during the period. Hollencrest Capital Management raised its holdings in Rayonier by 5.1% during the 1st quarter. Hollencrest Capital Management now owns 10,509 shares of the real estate investment trust's stock valued at $293,000 after buying an additional 509 shares during the period. Covestor Ltd lifted its position in Rayonier by 30.0% in 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 last quarter. Finally, Hamilton Point Investment Advisors LLC boosted its stake in Rayonier by 4.5% during the first quarter. Hamilton Point Investment Advisors LLC now owns 13,183 shares of the real estate investment trust's stock worth $368,000 after buying an additional 563 shares during the period. Institutional investors own 89.12% of the company's stock.

Rayonier Trading Up 0.6%

Shares of NYSE:RYN traded up $0.13 on Friday, hitting $23.44. 1,192,953 shares of the company's stock were exchanged, compared to its average volume of 1,111,622. The stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of 10.06 and a beta of 1.02. Rayonier Inc. has a 12 month low of $21.84 and a 12 month high of $32.88. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.71 and a quick ratio of 2.60. The business's 50 day simple moving average is $23.31 and its two-hundred day simple moving average is $24.89.

Rayonier (NYSE:RYN - Get Free Report) last announced its quarterly earnings data 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 net margin of 30.09% and a return on equity of 3.29%. The company had revenue of $82.90 million for the quarter, compared to the consensus estimate of $152.99 million. During the same quarter in the previous year, the business earned $0.01 EPS. The company's quarterly revenue was down 27.1% compared to the same quarter last year. Analysts anticipate that Rayonier Inc. will post 0.55 EPS for the current fiscal year.

Rayonier Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a dividend of $0.2725 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.09 dividend on an annualized basis and a yield of 4.7%. Rayonier's dividend payout ratio (DPR) is presently 46.78%.

Analyst Upgrades and Downgrades

RYN has been the topic of several recent analyst reports. Royal Bank Of Canada reduced their target price on shares of 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 cut their price target on shares of 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 raised shares of Rayonier from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, Citigroup dropped their target price on Rayonier from $27.00 to $26.00 and set a "neutral" rating for the company 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. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $27.75.

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.