Ancora Advisors LLC Invests $31.59 Million in Rayonier Inc. $RYN

Key Points

• Ancora Advisors acquired 1.48 million Rayonier shares worth approximately $31.59 million, representing a 0.50% stake. Institutional investors collectively own 89.12% of the company.
• Analysts remain cautious, with a consensus “Hold” rating and an average price target of $24.80; Rayonier shares opened at $21.27.
• Rayonier reported quarterly revenue of $396.51 million, up 272.3% year over year, while meeting the $0.10 EPS consensus. The company also declared a $0.26 quarterly dividend, implying a 4.9% annualized yield.

Ancora Advisors LLC acquired a new stake in Rayonier Inc. (NYSE:RYN - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,484,459 shares of the real estate investment trust's stock, valued at approximately $31,589,000. Ancora Advisors LLC owned 0.50% of Rayonier at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP lifted its stake in Rayonier by 19.8% in the fourth quarter. Quarry LP now owns 3,012 shares of the real estate investment trust's stock valued at $65,000 after buying an additional 498 shares during the period. Greenwood Gearhart Inc. grew its position in shares of Rayonier by 4.9% during the 4th quarter. Greenwood Gearhart Inc. now owns 10,802 shares of the real estate investment trust's stock worth $234,000 after buying an additional 502 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of Rayonier by 65.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,581 shares of the real estate investment trust's stock valued at $34,000 after acquiring an additional 627 shares during the last quarter. Keybank National Association OH increased its stake in shares of Rayonier by 4.4% in the 4th quarter. Keybank National Association OH now owns 15,641 shares of the real estate investment trust's stock valued at $339,000 after acquiring an additional 656 shares during the last quarter. Finally, Painted Porch Advisors LLC raised its position in shares of Rayonier by 4.9% in the 4th quarter. Painted Porch Advisors LLC now owns 14,421 shares of the real estate investment trust's stock valued at $312,000 after acquiring an additional 671 shares during the period. Institutional investors own 89.12% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. BMO Capital Markets reduced their target price on Rayonier from $26.00 to $25.00 and set a "market perform" rating on the stock in a report on Tuesday, May 19th. Citigroup raised their price target on Rayonier from $22.00 to $23.00 and gave the stock a "neutral" rating in a research report on Monday, August 10th. Weiss Ratings upgraded Rayonier from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday. Finally, Truist Financial decreased their price objective on Rayonier from $25.00 to $24.00 and set a "hold" rating for the company in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $24.80.

Rayonier Price Performance

NYSE RYN opened at $21.27 on Wednesday. The company has a quick ratio of 2.91, a current ratio of 3.56 and a debt-to-equity ratio of 0.36. Rayonier Inc. has a 12-month low of $19.49 and a 12-month high of $27.06. The company has a market capitalization of $6.33 billion, a PE ratio of 47.26 and a beta of 0.87. The firm's 50 day moving average is $21.48 and its 200-day moving average is $21.25.

Rayonier (NYSE:RYN - Get Free Report) last announced its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.10 EPS for the quarter, hitting the consensus estimate of $0.10. The business had revenue of $396.51 million during the quarter, compared to analysts' expectations of $374.28 million. Rayonier had a net margin of 7.83% and a return on equity of 3.49%. The firm's revenue was up 272.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.06 earnings per share. Equities research analysts anticipate that Rayonier Inc. will post 0.42 earnings per share for the current fiscal year.

Rayonier Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $1.04 annualized dividend and a dividend yield of 4.9%. Rayonier's payout ratio is 231.11%.

Rayonier Company Profile

Rayonier, Inc NYSE: RYN is a publicly traded real estate investment trust specializing in timberland ownership and management. The company's core business revolves around sustainably growing, harvesting, and marketing timber and timber-related products. Rayonier's timberland portfolio encompasses approximately 2.7 million acres across the United States and New Zealand, focusing on softwood and hardwood fiber for use in paper, packaging and building materials.

Rayonier operates through two primary segments: Timber and Real Estate Solutions.

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