71,810 Shares in Rayonier Inc. $RYN Purchased by Algert Global LLC

Key Points

• Algert Global LLC purchased 71,810 shares of Rayonier Inc., marking a significant investment valued at approximately $2 million during the 1st quarter.
• Rayonier reported $0.06 earnings per share (EPS) for the last quarter, exceeding analysts' expectations, with revenue increasing by 6.9% year-over-year.
• The company declared a quarterly dividend of $0.2725 per share, reflecting a 4.1% dividend yield, set to be paid on September 30th.

Algert Global LLC purchased a new stake in shares of Rayonier Inc. (NYSE:RYN - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 71,810 shares of the real estate investment trust's stock, valued at approximately $2,002,000.

Other institutional investors also recently bought and sold shares of the company. American National Bank & Trust purchased a new position in shares of Rayonier in the 1st quarter valued at $28,000. Parallel Advisors LLC increased its holdings in Rayonier by 133.5% in the 1st quarter. Parallel Advisors LLC now owns 1,123 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 642 shares in the last quarter. GKV Capital Management Co. Inc. purchased a new position in Rayonier in the first quarter valued at about $32,000. Byrne Asset Management LLC purchased a new position in Rayonier in the first quarter valued at about $38,000. Finally, Headlands Technologies LLC lifted its stake in shares of Rayonier by 223.4% during the first quarter. Headlands Technologies LLC now owns 2,076 shares of the real estate investment trust's stock worth $58,000 after purchasing an additional 1,434 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

RYN has been the topic of several recent research reports. Wall Street Zen raised Rayonier from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Royal Bank Of Canada boosted their target price on shares of Rayonier from $26.00 to $27.00 and gave the stock a "sector perform" rating in a research report on Friday, August 8th. Finally, Citigroup raised their price target on shares of Rayonier from $26.00 to $27.00 and gave the company a "neutral" rating in a report on Thursday. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $28.00.

Rayonier Stock Up 1.9%

Shares of RYN stock traded up $0.5130 during mid-day trading on Friday, reaching $27.1330. 951,345 shares of the company were exchanged, compared to its average volume of 1,079,421. The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.38 and a current ratio of 3.50. The business's 50 day simple moving average is $24.00 and its 200 day simple moving average is $24.82. The company has a market capitalization of $4.18 billion, a P/E ratio of 5.48 and a beta of 1.00. Rayonier Inc. has a fifty-two week low of $21.84 and a fifty-two week high of $32.88.

Rayonier (NYSE:RYN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.06 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.03. The firm had revenue of $106.50 million for the quarter, compared to the consensus estimate of $95.30 million. Rayonier had a net margin of 68.53% and a return on equity of 3.39%. The firm's revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.02 EPS. Research 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. Investors of record on Tuesday, September 16th will be paid a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Tuesday, September 16th. Rayonier's dividend payout ratio (DPR) is 22.02%.

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.