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

Key Points

• Atlas FRM LLC acquired 3.94 million Rayonier shares in the second quarter, valued at approximately $83.8 million and representing a 1.32% stake. Institutional investors collectively own 89.12% of the timberland REIT.
• Analysts maintain a broadly neutral view, with a consensus “Hold” rating and an average price target of $24.80; recent target changes ranged from $23 to $25.
• Rayonier met quarterly EPS expectations at $0.10 while revenue rose 272.3% year over year to $396.5 million. The company declared a $0.26 quarterly dividend, equivalent to a 4.9% annualized yield.

Atlas FRM LLC bought a new stake in Rayonier Inc. (NYSE:RYN - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,940,000 shares of the real estate investment trust's stock, valued at approximately $83,843,200,000. Rayonier comprises 3.6% of Atlas FRM LLC's portfolio, making the stock its 8th largest position. Atlas FRM LLC owned 1.32% of Rayonier at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in RYN. BlackRock Inc. acquired a new position in Rayonier in the second quarter valued at $617,451,000. Vanguard Group Inc. raised its position in shares of Rayonier by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 21,174,792 shares of the real estate investment trust's stock worth $458,434,000 after acquiring an additional 444,503 shares in the last quarter. Norges Bank bought a new position in shares of Rayonier in the 4th quarter worth about $313,806,000. Cohen & Steers Inc. lifted its stake in shares of Rayonier by 5.6% in 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. boosted its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 89.12% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on RYN shares. Weiss Ratings raised Rayonier from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday. Citigroup lifted their price objective on shares of Rayonier from $22.00 to $23.00 and gave the company a "neutral" rating in a research note on Monday, August 10th. Truist Financial dropped their target price 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. Finally, BMO Capital Markets reduced their price target on shares of Rayonier from $26.00 to $25.00 and set a "market perform" rating for the company in a report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Rayonier has a consensus rating of "Hold" and an average price target of $24.80.

Rayonier Stock Performance

Shares of RYN opened at $21.13 on Monday. The firm has a market capitalization of $6.29 billion, a P/E ratio of 46.96 and a beta of 0.87. Rayonier Inc. has a 52 week low of $19.49 and a 52 week high of $27.33. The stock has a 50 day moving average price of $21.49 and a two-hundred day moving average price of $21.27. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.91 and a current ratio of 3.56.

Rayonier (NYSE:RYN - Get Free Report) last announced its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. The company had revenue of $396.51 million for the quarter, compared to analysts' expectations of $374.28 million. Rayonier had a return on equity of 3.49% and a net margin of 7.83%.Rayonier's quarterly revenue was up 272.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.06 earnings per share. Equities analysts forecast that Rayonier Inc. will post 0.42 earnings per share for the current fiscal year.

Rayonier Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Wednesday, September 16th. Rayonier's dividend payout ratio is 231.11%.

Rayonier Profile

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.

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