20,021 Shares in Rayonier Inc. $RYN Bought by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd has invested approximately $558,000 in Rayonier Inc. by acquiring 20,021 shares in Q1 as per their recent SEC filing.
• Rayonier is currently rated as a "Hold" by most analysts, with a target price increase from Citigroup and Royal Bank of Canada, rising from $26.00 to $27.00.
• The company reported a Q2 EPS of $0.06, exceeding expectations, along with a quarterly revenue of $106.50 million, which reflects a 6.9% increase compared to the previous year.

Bayforest Capital Ltd bought a new stake in shares of Rayonier Inc. (NYSE:RYN - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 20,021 shares of the real estate investment trust's stock, valued at approximately $558,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. American National Bank & Trust acquired a new stake in shares of Rayonier during the first quarter worth $28,000. Elequin Capital LP purchased a new position in Rayonier in the 1st quarter worth $30,000. Parallel Advisors LLC grew its stake in Rayonier by 133.5% during the 1st quarter. Parallel Advisors LLC now owns 1,123 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 642 shares during the last quarter. GKV Capital Management Co. Inc. purchased a new stake in Rayonier during the 1st quarter valued at about $32,000. Finally, Byrne Asset Management LLC purchased a new stake in Rayonier during the 1st quarter valued at about $38,000. Hedge funds and other institutional investors own 89.12% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Citigroup upped their price target on shares of Rayonier from $26.00 to $27.00 and gave the company a "neutral" rating in a report on Thursday, August 21st. Royal Bank Of Canada increased their target price on shares of Rayonier from $26.00 to $27.00 and gave the stock a "sector perform" rating in a research note on Friday, August 8th. Finally, Wall Street Zen raised shares of Rayonier from a "sell" rating to a "hold" rating in a research note 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. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $28.00.

Rayonier Stock Down 1.1%

RYN stock traded down $0.28 during midday trading on Monday, hitting $26.02. The company's stock had a trading volume of 349,361 shares, compared to its average volume of 1,089,759. The company has a quick ratio of 3.38, a current ratio of 3.50 and a debt-to-equity ratio of 0.37. Rayonier Inc. has a 52-week low of $21.84 and a 52-week high of $32.88. The firm has a market capitalization of $4.01 billion, a P/E ratio of 5.25 and a beta of 1.01. The firm has a 50-day simple moving average of $25.10 and a 200-day simple moving average of $24.87.

Rayonier (NYSE:RYN - Get Free Report) last issued 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 company had revenue of $106.50 million during the quarter, compared to analysts' expectations of $95.30 million. During the same quarter last year, the company posted $0.02 EPS. The firm's revenue was up 6.9% compared to the same quarter last year. As a group, equities analysts forecast that Rayonier Inc. will post 0.55 EPS for the current year.

Rayonier Dividend Announcement

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 given a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Tuesday, September 16th. Rayonier's payout ratio 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.