Rayonier Inc. $RYN Stock Position Increased by Ancora Advisors LLC

Key Points

• Ancora Advisors LLC increased its holdings in Rayonier Inc. by 7.3%, owning approximately 372,894 shares valued at $10.40 million.
• Rayonier’s stock has received a consensus rating of "Hold" from analysts, with price targets raised to $27.00 by Royal Bank of Canada and Citigroup.
• The company declared a quarterly dividend of $0.2725, reflecting a 4.2% yield and a payout ratio of 22.02%.

Ancora Advisors LLC grew its position in shares of Rayonier Inc. (NYSE:RYN - Free Report) by 7.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 372,894 shares of the real estate investment trust's stock after buying an additional 25,264 shares during the period. Ancora Advisors LLC owned about 0.24% of Rayonier worth $10,396,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of RYN. Northern Trust Corp boosted its position in Rayonier by 17.9% during the 4th quarter. Northern Trust Corp now owns 1,543,523 shares of the real estate investment trust's stock valued at $40,286,000 after purchasing an additional 234,629 shares during the period. Schonfeld Strategic Advisors LLC acquired a new stake in Rayonier in the fourth quarter worth $416,000. Brevan Howard Capital Management LP acquired a new stake in Rayonier in the fourth quarter worth $324,000. Centiva Capital LP increased its position in Rayonier by 14.7% in the fourth quarter. Centiva Capital LP now owns 56,612 shares of the real estate investment trust's stock worth $1,478,000 after buying an additional 7,247 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new stake in Rayonier in the fourth quarter worth $176,000. Institutional investors own 89.12% of the company's stock.

Rayonier Stock Performance

Rayonier stock traded up $0.39 during mid-day trading on Friday, hitting $26.69. 778,445 shares of the company's stock traded hands, compared to its average volume of 892,663. The firm has a 50 day moving average price of $24.75 and a 200 day moving average price of $24.87. 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 company has a market cap of $4.11 billion, a PE ratio of 5.39 and a beta of 1.01. Rayonier Inc. has a one year low of $21.84 and a one year 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, topping analysts' consensus estimates of $0.03 by $0.03. Rayonier had a return on equity of 3.39% and a net margin of 68.53%.The company had revenue of $106.50 million for the quarter, compared to the consensus estimate of $95.30 million. During the same quarter in the previous year, the business earned $0.02 EPS. The company's quarterly revenue was up 6.9% compared to the same quarter last year. On average, equities analysts forecast that Rayonier Inc. will post 0.55 EPS for the current year.

Rayonier Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders 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 dividend yield of 4.1%. The ex-dividend date of this dividend is Tuesday, September 16th. Rayonier's payout ratio is currently 22.02%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on RYN shares. Royal Bank Of Canada increased their target price on Rayonier from $26.00 to $27.00 and gave the stock a "sector perform" rating in a research report on Friday, August 8th. Wall Street Zen raised Rayonier from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Citigroup increased their target price on Rayonier from $26.00 to $27.00 and gave the stock a "neutral" rating in a research report on Thursday, August 21st. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Rayonier presently has a consensus rating of "Hold" and a consensus target price of $28.00.

Rayonier 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.