3,940,000 Shares in Rayonier Inc. $RYN Bought by Atlas FRM LLC

Atlas FRM LLC bought a new position in Rayonier Inc. (NYSE:RYN - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,940,000 shares of the real estate investment trust's stock, valued at approximately $83,843,200. Rayonier accounts for about 0.0% of Atlas FRM LLC's holdings, making the stock its 8th biggest position. Atlas FRM LLC owned 1.32% of Rayonier as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Rayonier in the second quarter worth $617,451,000. Vanguard Group Inc. increased its position in Rayonier by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 21,174,792 shares of the real estate investment trust's stock valued at $458,434,000 after purchasing an additional 444,503 shares during the period. Norges Bank purchased a new position in Rayonier during the 4th quarter valued at $313,806,000. Cohen & Steers Inc. increased its position in Rayonier by 5.6% during the 4th quarter. Cohen & Steers Inc. now owns 13,548,815 shares of the real estate investment trust's stock valued at $293,332,000 after purchasing an additional 717,021 shares during the period. Finally, Fuller & Thaler Asset Management Inc. increased its position in Rayonier by 232.2% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 5,647,156 shares of the real estate investment trust's stock valued at $122,261,000 after purchasing an additional 3,947,226 shares during the period. 89.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RYN has been the topic of a number of research analyst reports. BMO Capital Markets reduced their price objective on shares of Rayonier from $26.00 to $25.00 and set a "market perform" rating on the stock in a research report on Tuesday, May 19th. Truist Financial reduced their price objective on shares of Rayonier from $25.00 to $24.00 and set a "hold" rating on the stock in a research report on Wednesday, July 15th. Weiss Ratings raised shares of Rayonier from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, August 21st. Finally, Citigroup boosted their price objective on shares of Rayonier from $22.00 to $23.00 and gave the company a "neutral" rating in a research report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Rayonier currently has a consensus rating of "Hold" and an average target price of $24.80.

Rayonier Stock Down 1.1%

NYSE:RYN opened at $20.40 on Friday. The firm's 50-day moving average price is $21.47 and its 200-day moving average price is $21.22. The company has a market capitalization of $6.07 billion, a PE ratio of 45.33 and a beta of 0.87. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.56 and a quick ratio of 2.91. Rayonier Inc. has a 1-year low of $19.49 and a 1-year high of $27.06.

Rayonier (NYSE:RYN - Get Free Report) last released its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.10 earnings per share for the quarter, hitting analysts' consensus estimates of $0.10. The firm had revenue of $396.51 million for the quarter, compared to the consensus estimate of $374.28 million. Rayonier had a net margin of 7.83% and a return on equity of 3.49%. The company's revenue was up 272.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.06 EPS. On average, equities analysts predict that Rayonier Inc. will post 0.44 EPS for the current fiscal year.

Rayonier Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be given a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 5.1%. Rayonier's dividend payout ratio is currently 231.11%.

About Rayonier

Rayonier, Inc NYSE: RYN is a publicly traded real estate investment trust specializing in timberland ownership and management. The company's core business revolves around sustainably growing, harvesting, and marketing timber and timber-related products. Rayonier's timberland portfolio encompasses approximately 2.7 million acres across the United States and New Zealand, focusing on softwood and hardwood fiber for use in paper, packaging and building materials.

Rayonier operates through two primary segments: Timber and Real Estate Solutions.