Wealth Enhancement Advisory Services LLC Invests $1.02 Million in Rayonier Inc. (NYSE:RYN)

Wealth Enhancement Advisory Services LLC acquired a new position in shares of Rayonier Inc. (NYSE:RYN - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 36,467 shares of the real estate investment trust's stock, valued at approximately $1,017,000.

Several other large investors also recently added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd purchased a new position in Rayonier during the fourth quarter valued at approximately $25,000. American National Bank & Trust bought a new position in shares of Rayonier in the 1st quarter worth $28,000. Parallel Advisors LLC lifted its stake in shares of Rayonier by 133.5% during the 1st quarter. Parallel Advisors LLC now owns 1,123 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 642 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in 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 valued at $44,000 after purchasing an additional 1,217 shares in the last quarter. Finally, Covestor Ltd boosted 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 valued at $60,000 after purchasing an additional 535 shares in the last quarter. 89.12% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on RYN shares. Truist Financial lowered their price objective on Rayonier from $30.00 to $27.00 and set a "hold" rating for the company in a research report on Tuesday, April 22nd. Citigroup cut their price objective on shares of Rayonier from $27.00 to $26.00 and set a "neutral" rating on the stock in a report on Tuesday, June 3rd. Wall Street Zen raised shares of Rayonier from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Raymond James Financial raised shares of Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 target price on the stock in a research report on Wednesday, March 12th. Finally, Royal Bank Of Canada cut their price target 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. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $27.75.

Rayonier Trading Up 1.8%

Rayonier stock traded up $0.40 during mid-day trading on Wednesday, hitting $23.17. The company's stock had a trading volume of 1,268,781 shares, compared to its average volume of 1,115,232. The stock's fifty day moving average is $23.47 and its two-hundred day moving average is $25.30. The company has a current ratio of 2.71, a quick ratio of 2.60 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $3.61 billion, a PE ratio of 9.94 and a beta of 1.02. Rayonier Inc. has a 1 year low of $21.84 and a 1 year high of $32.88.

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

Rayonier Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a $0.2725 dividend. The ex-dividend date was Monday, June 16th. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.70%. Rayonier's payout ratio is currently 46.78%.

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.