Abel Hall LLC Takes Position in Rayonier Inc. $RYN

Key Points

• Abel Hall LLC acquired a new stake in Rayonier Inc. during Q2, purchasing 11,520 shares valued at approximately $256,000.
• Rayonier's latest earnings report exceeded analysts' expectations, with an EPS of $0.06, beating the consensus estimate by $0.03 and showing a 6.9% revenue increase year-over-year.
• The company recently announced a quarterly dividend of $0.2725 per share, representing an annualized dividend of $1.09 and a dividend yield of 4.1%.

Abel Hall LLC bought a new stake in Rayonier Inc. (NYSE:RYN - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 11,520 shares of the real estate investment trust's stock, valued at approximately $256,000.

Several other hedge funds have also made changes to their positions in RYN. AQR Capital Management LLC lifted its stake in shares of Rayonier by 1,287.3% in the first quarter. AQR Capital Management LLC now owns 1,506,119 shares of the real estate investment trust's stock valued at $41,991,000 after buying an additional 1,397,555 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Rayonier by 30.0% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,203,552 shares of the real estate investment trust's stock valued at $117,195,000 after buying an additional 971,167 shares during the period. Nuveen LLC bought a new stake in shares of Rayonier in the first quarter valued at about $26,187,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Rayonier in the first quarter valued at about $23,582,000. Finally, Vanguard Group Inc. lifted its stake in shares of Rayonier by 2.2% in the first quarter. Vanguard Group Inc. now owns 20,862,953 shares of the real estate investment trust's stock valued at $581,659,000 after buying an additional 456,363 shares during the period. Institutional investors own 89.12% of the company's stock.

Rayonier Stock Performance

NYSE:RYN opened at $26.67 on Thursday. Rayonier Inc. has a 1 year low of $21.84 and a 1 year high of $32.88. The firm has a 50 day moving average of $26.06 and a 200-day moving average of $24.76. The company has a current ratio of 3.50, a quick ratio of 3.38 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $4.11 billion, a P/E ratio of 5.39 and a beta of 0.99.

Rayonier (NYSE:RYN - Get Free Report) last posted its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.03. Rayonier had a net margin of 68.53% and a return on equity of 3.39%. The company had revenue of $106.50 million during the quarter, compared to analysts' expectations of $95.30 million. During the same quarter in the previous year, the company posted $0.02 earnings per share. Rayonier's quarterly revenue was up 6.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Rayonier Inc. will post 0.55 EPS for the current fiscal year.

Rayonier Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were paid a $0.2725 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.1%. Rayonier's payout ratio is 22.02%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Royal Bank Of Canada increased their target price on shares of Rayonier from $26.00 to $27.00 and gave the company a "sector perform" rating in a research note on Friday, August 8th. Wall Street Zen upgraded shares of Rayonier from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Weiss Ratings restated a "hold (c-)" rating on shares of Rayonier in a research note on Saturday, September 27th. Finally, Citigroup raised their price target on shares of Rayonier from $26.00 to $27.00 and gave the stock a "neutral" rating in a research note on Thursday, August 21st. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $28.00.

About Rayonier

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.

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