Adelante Capital Management LLC Makes New Investment in Rayonier Inc. $RYN

Key Points

• Adelante Capital Management acquired 78,915 Rayonier shares worth approximately $1.63 million, while institutional investors collectively own 89.12% of the company.
• Rayonier shares opened at $22.15, up 2.2%, after the REIT reported quarterly EPS of $0.07, exceeding analysts’ $0.06 estimate. Revenue rose 233.9% year over year to $276.79 million.
• The company declared a quarterly dividend of $0.26, equating to an annualized $1.04 payout and a 4.7% yield. Analysts maintain a consensus “Hold” rating with an average price target of $24.60.

Adelante Capital Management LLC acquired a new stake in Rayonier Inc. (NYSE:RYN - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 78,915 shares of the real estate investment trust's stock, valued at approximately $1,627,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in RYN. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Rayonier in the fourth quarter worth approximately $34,000. Northwestern Mutual Wealth Management Co. grew its stake in Rayonier by 65.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,581 shares of the real estate investment trust's stock valued at $34,000 after acquiring an additional 627 shares in the last quarter. Bayban purchased a new position in Rayonier during the first quarter worth about $36,000. Hartford Financial Management Inc. grew its stake in Rayonier by 49.7% in the 4th quarter. Hartford Financial Management Inc. now owns 1,732 shares of the real estate investment trust's stock worth $37,000 after buying an additional 575 shares in the last quarter. Finally, Whittier Trust Co. lifted its position in Rayonier by 74.0% in the 1st quarter. Whittier Trust Co. now owns 2,279 shares of the real estate investment trust's stock worth $47,000 after buying an additional 969 shares during the last quarter. Institutional investors own 89.12% of the company's stock.

Rayonier Stock Up 2.2%

Shares of NYSE:RYN opened at $22.15 on Wednesday. The stock has a market capitalization of $6.66 billion, a price-to-earnings ratio of 7.33 and a beta of 0.88. The stock has a fifty day simple moving average of $21.22 and a two-hundred day simple moving average of $21.52. Rayonier Inc. has a 12-month low of $19.49 and a 12-month high of $27.33. The company has a current ratio of 2.53, a quick ratio of 2.21 and a debt-to-equity ratio of 0.35.

Rayonier (NYSE:RYN - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.07 earnings per share for the quarter, beating analysts' consensus estimates of $0.06 by $0.01. The business had revenue of $276.79 million during the quarter, compared to analyst estimates of $280.92 million. Rayonier had a net margin of 68.61% and a return on equity of 3.61%. Rayonier's revenue was up 233.9% compared to the same quarter last year. During the same period last year, the business earned ($0.02) EPS. On average, research analysts anticipate that Rayonier Inc. will post 0.36 earnings per share for the current fiscal year.

Rayonier Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Wednesday, September 16th. Rayonier's payout ratio is 34.44%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. BMO Capital Markets dropped their price objective on Rayonier from $26.00 to $25.00 and set a "market perform" rating for the company in a research note on Tuesday, May 19th. Weiss Ratings downgraded shares of Rayonier from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, May 12th. Truist Financial lowered their price target on shares of Rayonier from $25.00 to $24.00 and set a "hold" rating for the company in a report on Wednesday, July 15th. Citigroup dropped their price target on shares of Rayonier from $24.00 to $22.00 and set a "neutral" rating for the company in a research report on Wednesday, May 13th. Finally, Royal Bank Of Canada set a $24.00 price target on shares of Rayonier in a report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $24.60.

Rayonier Company 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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