Boothbay Fund Management LLC Buys 65,260 Shares of Rayonier Inc. $RYN

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 increased its position in Rayonier Inc. (NYSE:RYN - Free Report) by 32.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 267,363 shares of the real estate investment trust's stock after purchasing an additional 65,260 shares during the period. Boothbay Fund Management LLC owned about 0.17% of Rayonier worth $7,454,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its position in Rayonier by 5.0% during the 1st quarter. Principal Financial Group Inc. now owns 323,985 shares of the real estate investment trust's stock worth $9,033,000 after acquiring an additional 15,382 shares during the period. GAMMA Investing LLC increased its stake in shares of Rayonier by 54.6% in the first quarter. GAMMA Investing LLC now owns 2,680 shares of the real estate investment trust's stock worth $75,000 after acquiring an additional 947 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in Rayonier in the 1st quarter worth about $1,017,000. New York State Teachers Retirement System increased its position in Rayonier by 5.4% in the 1st quarter. New York State Teachers Retirement System now owns 166,119 shares of the real estate investment trust's stock worth $4,631,000 after purchasing an additional 8,565 shares during the last quarter. Finally, Mutual of America Capital Management LLC increased its position in Rayonier by 2.1% in the 1st quarter. Mutual of America Capital Management LLC now owns 72,324 shares of the real estate investment trust's stock worth $2,016,000 after purchasing an additional 1,487 shares during the last quarter. 89.12% of the stock is currently owned by institutional investors and hedge funds.

Rayonier Stock Down 0.2%

RYN traded down $0.06 during trading on Monday, reaching $26.69. 1,126,423 shares of the stock were exchanged, compared to its average volume of 1,098,454. The stock's 50 day moving average price is $24.75 and its two-hundred day moving average price is $24.86. Rayonier Inc. has a twelve month low of $21.84 and a twelve month high of $32.88. The stock has a market cap of $4.11 billion, a P/E ratio of 5.39 and a beta of 1.01. The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.38 and a current ratio of 3.50.

Rayonier (NYSE:RYN - Get Free Report) last posted its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.03 by $0.03. The company had revenue of $106.50 million during the quarter, compared to the consensus estimate of $95.30 million. Rayonier had a return on equity of 3.39% and a net margin of 68.53%.The company's revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.02 earnings per share. Equities analysts expect that Rayonier Inc. will post 0.55 EPS for the current year.

Rayonier Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Citigroup boosted their price target on Rayonier from $26.00 to $27.00 and gave the stock a "neutral" rating in a research report on Thursday, August 21st. Royal Bank Of Canada raised their price target on Rayonier from $26.00 to $27.00 and gave the company a "sector perform" rating in a report on Friday, August 8th. Finally, Wall Street Zen raised Rayonier from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company currently 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.