Rayonier Inc. $RYN Shares Purchased by Boothbay Fund Management LLC

Key Points

• Boothbay Fund Management LLC increased its stake in Rayonier Inc. by 32.3% during Q1, acquiring an additional 65,260 shares, bringing its total holdings to 267,363 shares valued at approximately $7.45 million.
• Rayonier recently reported earnings of $0.06 per share for the last quarter, surpassing analyst expectations of $0.03, with revenues reaching $106.5 million compared to expected $95.3 million.
• The company announced a quarterly dividend of $0.2725 per share, scheduled to be paid on September 30, which translates to an annualized yield of 4.2%.

Boothbay Fund Management LLC lifted its position in Rayonier Inc. (NYSE:RYN - Free Report) by 32.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 267,363 shares of the real estate investment trust's stock after acquiring an additional 65,260 shares during the period. Boothbay Fund Management LLC owned 0.17% of Rayonier worth $7,454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in RYN. Deutsche Bank AG grew its holdings in shares of Rayonier by 730.8% during the fourth quarter. Deutsche Bank AG now owns 1,829,422 shares of the real estate investment trust's stock worth $47,748,000 after buying an additional 1,609,232 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Rayonier by 1,287.3% in the first quarter. AQR Capital Management LLC now owns 1,506,119 shares of the real estate investment trust's stock worth $41,991,000 after buying an additional 1,397,555 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Rayonier by 30.0% during the first 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 acquiring an additional 971,167 shares during the last quarter. Nuveen LLC acquired a new position in Rayonier during the first quarter worth about $26,187,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Rayonier during the 1st quarter valued at about $23,582,000. 89.12% of the stock is owned by institutional investors and hedge funds.

Rayonier Trading Down 1.9%

NYSE:RYN traded down $0.50 on Tuesday, hitting $26.13. The stock had a trading volume of 318,687 shares, compared to its average volume of 1,093,797. The company has a fifty day moving average price of $24.84 and a two-hundred day moving average price of $24.86. Rayonier Inc. has a 1-year low of $21.84 and a 1-year high of $32.88. 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 stock has a market cap of $4.03 billion, a price-to-earnings ratio of 5.28 and a beta of 1.01.

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. Equities research analysts expect that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.

Rayonier Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Tuesday, September 16th. Rayonier's dividend payout ratio (DPR) is presently 22.02%.

Wall Street Analyst Weigh In

A number of analysts have commented on RYN shares. Royal Bank Of Canada increased their price objective on shares of Rayonier from $26.00 to $27.00 and gave the company a "sector perform" rating in a report on Friday, August 8th. Citigroup increased their price target on Rayonier from $26.00 to $27.00 and gave the company a "neutral" rating in a 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 investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average 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.