Rayonier Inc. $RYN Shares Acquired by Advisors Asset Management Inc.

Key Points

• Advisors Asset Management Inc. increased its holdings in Rayonier Inc. by 164.4%, acquiring an additional 32,548 shares during the first quarter, bringing their total to 52,350 shares valued at approximately $1.46 million.
• Rayonier's stock rose 2.3%, closing at $26.78, with a market cap of $4.13 billion, while the company reported a quarterly EPS of $0.06, beating analysts' estimates.
• The company announced a quarterly dividend of $0.2725 per share, which will be paid to shareholders on September 30th, reflecting an annual yield of 4.1%.

Advisors Asset Management Inc. boosted its position in shares of Rayonier Inc. (NYSE:RYN - Free Report) by 164.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,350 shares of the real estate investment trust's stock after acquiring an additional 32,548 shares during the quarter. Advisors Asset Management Inc.'s holdings in Rayonier were worth $1,460,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Rayonier by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 20,862,953 shares of the real estate investment trust's stock valued at $581,659,000 after acquiring an additional 456,363 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Rayonier by 30.0% during the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,203,552 shares of the real estate investment trust's stock worth $117,195,000 after buying an additional 971,167 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Rayonier by 4.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,607,211 shares of the real estate investment trust's stock worth $72,689,000 after buying an additional 118,409 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Rayonier by 13.8% during the first quarter. Victory Capital Management Inc. now owns 2,515,298 shares of the real estate investment trust's stock worth $70,127,000 after buying an additional 304,803 shares in the last quarter. Finally, Deutsche Bank AG grew its position in shares of Rayonier by 730.8% during the fourth quarter. Deutsche Bank AG now owns 1,829,422 shares of the real estate investment trust's stock worth $47,748,000 after buying an additional 1,609,232 shares in the last quarter. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RYN. Citigroup boosted their price objective on Rayonier from $26.00 to $27.00 and gave the stock a "neutral" rating in a research report on Thursday, August 21st. Royal Bank Of Canada boosted their target price on Rayonier from $26.00 to $27.00 and gave the stock a "sector perform" rating in a research note on Friday, August 8th. Finally, Wall Street Zen upgraded Rayonier from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Rayonier currently has a consensus rating of "Hold" and a consensus target price of $28.00.

Rayonier Stock Performance

RYN traded down $0.47 during trading on Friday, hitting $26.31. 816,283 shares of the stock were exchanged, compared to its average volume of 877,302. The firm has a market capitalization of $4.06 billion, a P/E ratio of 5.31 and a beta of 1.01. Rayonier Inc. has a 1-year low of $21.84 and a 1-year high of $32.88. The stock has a fifty day moving average price of $25.10 and a two-hundred day moving average price of $24.88. The company has a quick ratio of 3.38, a current ratio of 3.50 and a debt-to-equity ratio of 0.37.

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

Rayonier Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be given a dividend of $0.2725 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.09 annualized dividend and a yield of 4.1%. Rayonier's payout ratio is 22.02%.

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.