22,720 Shares in Rayonier Inc. $RYN Bought by Caxton Associates LLP

Key Points

• Caxton Associates LLP has acquired a new stake in Rayonier Inc., purchasing 22,720 shares valued at approximately $633,000 during the first quarter.
• Rayonier recently reported quarterly earnings, achieving $0.06 earnings per share, exceeding estimates, with revenue of $106.50 million—an increase of 6.9% year-over-year.
• The company announced a quarterly dividend of $0.2725 per share, reflecting an annualized yield of 4.1% and a payout ratio of 22.02%.

Caxton Associates LLP purchased a new stake in Rayonier Inc. (NYSE:RYN - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 22,720 shares of the real estate investment trust's stock, valued at approximately $633,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RYN. Vanguard Group Inc. increased its position in Rayonier by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 20,862,953 shares of the real estate investment trust's stock valued at $581,659,000 after acquiring an additional 456,363 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Rayonier by 30.0% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,203,552 shares of the real estate investment trust's stock valued at $117,195,000 after buying an additional 971,167 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Rayonier by 4.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,607,211 shares of the real estate investment trust's stock valued at $72,689,000 after buying an additional 118,409 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Rayonier by 13.8% in the 1st quarter. Victory Capital Management Inc. now owns 2,515,298 shares of the real estate investment trust's stock valued at $70,127,000 after acquiring an additional 304,803 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Rayonier by 2.5% in the 1st quarter. Northern Trust Corp now owns 1,582,227 shares of the real estate investment trust's stock valued at $44,112,000 after acquiring an additional 38,704 shares during the last quarter. 89.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RYN. Citigroup upped their price target on shares of Rayonier from $26.00 to $27.00 and gave the stock a "neutral" rating in a research report on Thursday, August 21st. Wall Street Zen upgraded shares of Rayonier from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Royal Bank Of Canada raised their price objective 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. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $28.00.

Rayonier Stock Down 1.7%

RYN stock traded down $0.47 during midday trading on Friday, reaching $26.31. The company had a trading volume of 816,283 shares, compared to its average volume of 877,302. Rayonier Inc. has a 1 year low of $21.84 and a 1 year high of $32.88. The company has a current ratio of 3.50, a quick ratio of 3.38 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $4.06 billion, a P/E ratio of 5.31 and a beta of 1.01. The company has a 50 day moving average of $25.10 and a two-hundred day moving average of $24.88.

Rayonier (NYSE:RYN - Get Free Report) last released its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $95.30 million. During the same quarter in the prior year, the firm earned $0.02 EPS. The company's revenue was up 6.9% 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued a dividend of $0.2725 per share. The ex-dividend date is Tuesday, September 16th. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.1%. Rayonier's dividend payout ratio (DPR) is currently 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.