Bailard Inc. Increases Position in Rayonier Inc. (NYSE:RYN)

Bailard Inc. raised its position in Rayonier Inc. (NYSE:RYN - Free Report) by 116.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,100 shares of the real estate investment trust's stock after purchasing an additional 14,585 shares during the quarter. Bailard Inc.'s holdings in Rayonier were worth $756,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. grew its holdings in Rayonier by 13.8% during the first quarter. Victory Capital Management Inc. now owns 2,515,298 shares of the real estate investment trust's stock worth $70,127,000 after purchasing an additional 304,803 shares during the period. Mountain Hill Investment Partners Corp. raised its position in Rayonier by 54.5% during the first quarter. Mountain Hill Investment Partners Corp. now owns 15,447 shares of the real estate investment trust's stock valued at $431,000 after purchasing an additional 5,447 shares in the last quarter. Securian Asset Management Inc. increased its holdings in Rayonier by 4.6% in the 1st quarter. Securian Asset Management Inc. now owns 10,603 shares of the real estate investment trust's stock worth $296,000 after purchasing an additional 466 shares in the last quarter. CWM LLC increased its holdings in Rayonier by 1,684.0% in the 1st quarter. CWM LLC now owns 62,745 shares of the real estate investment trust's stock worth $1,749,000 after purchasing an additional 59,228 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its holdings in Rayonier by 5.9% in the first quarter. Louisiana State Employees Retirement System now owns 39,394 shares of the real estate investment trust's stock valued at $1,098,000 after purchasing an additional 2,194 shares during the period. Institutional investors and hedge funds own 89.12% of the company's stock.

Rayonier Stock Performance

Rayonier stock traded up $0.02 during mid-day trading on Friday, reaching $23.57. 1,229,368 shares of the company traded hands, compared to its average volume of 919,113. The company has a market capitalization of $3.67 billion, a price-to-earnings ratio of 10.12 and a beta of 1.02. Rayonier Inc. has a fifty-two week low of $21.84 and a fifty-two week high of $31.29. The firm's fifty day moving average is $23.31 and its two-hundred day moving average is $25.01. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.71 and a quick ratio of 2.60.

Rayonier (NYSE:RYN - Get Free Report) last announced its earnings results on Wednesday, April 30th. The real estate investment trust reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.10). Rayonier had a net margin of 30.09% and a return on equity of 3.29%. The company had revenue of $82.90 million during the quarter, compared to analyst estimates of $152.99 million. During the same quarter last year, the business earned $0.01 EPS. The firm's revenue for the quarter was down 27.1% compared to the same quarter last year. On average, equities research analysts expect that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.

Rayonier Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date was Monday, June 16th. Rayonier's dividend payout ratio is presently 46.78%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Wall Street Zen raised shares of Rayonier from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Royal Bank Of Canada cut their target price on shares of Rayonier from $28.00 to $27.00 and set a "sector perform" rating for the company in a research report on Friday, May 2nd. Citigroup lowered their price objective on shares of Rayonier from $27.00 to $26.00 and set a "neutral" rating for the company in a research note on Tuesday, June 3rd. Finally, Truist Financial decreased their target price on shares of Rayonier from $30.00 to $27.00 and set a "hold" rating for the company in a research note on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $27.75.

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.