Rayonier Inc. $RYN Stock Holdings Raised 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 lifted its position in Rayonier Inc. (NYSE:RYN - Free Report) by 7.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 372,894 shares of the real estate investment trust's stock after purchasing an additional 25,264 shares during the period. Ancora Advisors LLC owned 0.24% of Rayonier worth $10,396,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Deutsche Bank AG increased its position in shares of Rayonier by 730.8% in the 4th quarter. Deutsche Bank AG now owns 1,829,422 shares of the real estate investment trust's stock valued at $47,748,000 after acquiring an additional 1,609,232 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Rayonier by 30.0% during the 1st 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 purchasing an additional 971,167 shares during the period. Nuveen LLC acquired a new stake in Rayonier during the 1st quarter worth about $26,187,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Rayonier during the 1st quarter worth about $23,582,000. Finally, Millennium Management LLC grew its position in Rayonier by 253.3% during the 4th quarter. Millennium Management LLC now owns 1,094,880 shares of the real estate investment trust's stock worth $28,576,000 after purchasing an additional 784,955 shares during the period. Hedge funds and other institutional investors own 89.12% of the company's stock.

Rayonier Trading Down 1.5%

Shares of RYN stock traded down $0.41 during trading on Monday, hitting $26.34. 231,250 shares of the stock traded hands, compared to its average volume of 1,092,846. The firm has a market capitalization of $4.06 billion, a P/E ratio of 5.32 and a beta of 1.01. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.50 and a quick ratio of 3.38. The firm's fifty day moving average price is $24.75 and its 200-day moving average price is $24.86. Rayonier Inc. has a 52-week low of $21.84 and a 52-week high of $32.88.

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, beating the consensus estimate of $0.03 by $0.03. Rayonier had a net margin of 68.53% and a return on equity of 3.39%. The firm had revenue of $106.50 million for the quarter, compared to analyst estimates of $95.30 million. During the same quarter in the previous year, the company earned $0.02 EPS. The business's revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, research analysts forecast that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.

Rayonier Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued 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 dividend payout ratio is presently 22.02%.

Analysts Set New Price Targets

RYN has been the topic of a number of analyst reports. Royal Bank Of Canada raised their target price on Rayonier from $26.00 to $27.00 and gave the company a "sector perform" rating in a research report on Friday, August 8th. Citigroup raised their target price on Rayonier from $26.00 to $27.00 and gave the company a "neutral" rating in a research report on Thursday, August 21st. Finally, Wall Street Zen upgraded Rayonier from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, Rayonier has a consensus rating of "Hold" and an average target price of $28.00.

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.