Algert Global LLC Takes $2 Million Position in Rayonier Inc. $RYN

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 bought a new stake in shares of Rayonier Inc. (NYSE:RYN - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 71,810 shares of the real estate investment trust's stock, valued at approximately $2,002,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. American National Bank & Trust purchased a new position in shares of Rayonier during the 1st quarter valued at approximately $28,000. Parallel Advisors LLC lifted its stake in Rayonier by 133.5% during the first quarter. Parallel Advisors LLC now owns 1,123 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 642 shares during the last quarter. GKV Capital Management Co. Inc. bought a new position in Rayonier during the first quarter worth $32,000. Byrne Asset Management LLC bought a new position in Rayonier during the first quarter worth $38,000. Finally, Headlands Technologies LLC lifted its stake in 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 during the last quarter. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Wall Street Zen upgraded Rayonier from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Royal Bank Of Canada raised their price objective 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, Citigroup raised their price objective on Rayonier from $26.00 to $27.00 and gave the stock a "neutral" rating in a research note on Thursday, August 21st. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Rayonier presently has a consensus rating of "Hold" and an average target price of $28.00.

Rayonier Stock Performance

NYSE RYN traded down $0.03 during trading hours on Wednesday, hitting $26.44. The company had a trading volume of 1,015,327 shares, compared to its average volume of 1,102,948. Rayonier Inc. has a fifty-two week low of $21.84 and a fifty-two week high of $32.88. The company has a quick ratio of 3.38, a current ratio of 3.50 and a debt-to-equity ratio of 0.37. The business has a fifty day simple moving average of $24.24 and a 200-day simple moving average of $24.84. The firm has a market cap of $4.08 billion, a P/E ratio of 5.34 and a beta of 1.00.

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

Rayonier Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend 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.