BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Acquires 971,167 Shares of Rayonier Inc. $RYN

Key Points

• British Columbia Investment Management Corp increased its stake in Rayonier Inc. by 30% in Q1, acquiring an additional 971,167 shares and making Rayonier its 24th largest position.
• Rayonier reported earnings of $0.06 per share for the recent quarter, surpassing analysts' expectations, with a revenue increase of 6.9% year-over-year.
• The company has announced a quarterly dividend of $0.2725 per share, representing an annual yield of 4.0%, with a payout ratio of 22.02%.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Rayonier Inc. (NYSE:RYN - Free Report) by 30.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,203,552 shares of the real estate investment trust's stock after purchasing an additional 971,167 shares during the period. Rayonier comprises about 0.7% of BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's investment portfolio, making the stock its 24th biggest position. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 2.70% of Rayonier worth $117,195,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of RYN. Securian Asset Management Inc. lifted its position in shares of Rayonier by 4.6% in the first quarter. Securian Asset Management Inc. now owns 10,603 shares of the real estate investment trust's stock valued at $296,000 after acquiring an additional 466 shares in the last quarter. Shell Asset Management Co. lifted its position in shares of Rayonier by 4.5% in the fourth quarter. Shell Asset Management Co. now owns 11,652 shares of the real estate investment trust's stock valued at $304,000 after acquiring an additional 497 shares in the last quarter. Hollencrest Capital Management lifted its position in shares of Rayonier by 5.1% in the first quarter. Hollencrest Capital Management now owns 10,509 shares of the real estate investment trust's stock worth $293,000 after buying an additional 509 shares in the last quarter. Hamilton Point Investment Advisors LLC lifted its position in shares of Rayonier by 4.5% in the first quarter. Hamilton Point Investment Advisors LLC now owns 13,183 shares of the real estate investment trust's stock worth $368,000 after buying an additional 563 shares in the last quarter. Finally, Timber Creek Capital Management LLC lifted its position in shares of Rayonier by 4.5% in the first quarter. Timber Creek Capital Management LLC now owns 13,957 shares of the real estate investment trust's stock worth $389,000 after buying an additional 596 shares in the last quarter. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

Rayonier Trading Down 1.5%

NYSE RYN traded down $0.39 during trading hours on Thursday, hitting $26.02. 331,222 shares of the company were exchanged, compared to its average volume of 1,101,262. The stock has a 50-day moving average price of $24.24 and a 200 day moving average price of $24.84. 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 stock has a market cap of $4.01 billion, a PE ratio of 5.25 and a beta of 1.00.

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

Rayonier Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on RYN shares. Wall Street Zen upgraded Rayonier from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Royal Bank Of Canada boosted their target price on Rayonier from $26.00 to $27.00 and gave the stock a "sector perform" rating in a research report on Friday, August 8th. Finally, Citigroup boosted their target price on Rayonier from $26.00 to $27.00 and gave the stock a "neutral" rating in a research report on Thursday, August 21st. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, Rayonier currently has a consensus rating of "Hold" and an average price target of $28.00.

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.