47,735 Shares in Rayonier Inc. $RYN Acquired by Concentric Capital Strategies LP

Key Points

• Concentric Capital Strategies LP has made a new investment in Rayonier Inc., purchasing 47,735 shares valued at approximately $1.33 million in the first quarter.
• Rayonier reported a quarterly earnings per share of $0.06, exceeding analysts' expectations, and a revenue of $106.50 million, which is a 6.9% increase compared to the previous year.
• The company also declared a quarterly dividend of $0.2725, which represents an annualized yield of 4.2%.

Concentric Capital Strategies LP acquired a new position in Rayonier Inc. (NYSE:RYN - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 47,735 shares of the real estate investment trust's stock, valued at approximately $1,331,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Boothbay Fund Management LLC increased its position in shares of Rayonier by 32.3% during the first quarter. Boothbay Fund Management LLC now owns 267,363 shares of the real estate investment trust's stock worth $7,454,000 after purchasing an additional 65,260 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Rayonier by 1,287.3% during 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 during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Rayonier by 164.4% during the first quarter. Advisors Asset Management Inc. now owns 52,350 shares of the real estate investment trust's stock worth $1,460,000 after buying an additional 32,548 shares during the last quarter. Ancora Advisors LLC grew its holdings in shares of Rayonier by 7.3% during the first quarter. Ancora Advisors LLC now owns 372,894 shares of the real estate investment trust's stock worth $10,396,000 after buying an additional 25,264 shares during the last quarter. Finally, Federation des caisses Desjardins du Quebec boosted its holdings in Rayonier by 18.2% in the 1st quarter. Federation des caisses Desjardins du Quebec now owns 45,959 shares of the real estate investment trust's stock valued at $1,282,000 after purchasing an additional 7,069 shares in the last quarter. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

Rayonier Trading Down 0.2%

RYN traded down $0.06 during trading on Monday, hitting $26.69. The company's stock had a trading volume of 1,126,423 shares, compared to its average volume of 1,098,454. The firm's 50 day moving average price is $24.75 and its 200-day moving average price is $24.86. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.50 and a quick ratio of 3.38. The stock has a market cap of $4.11 billion, a PE ratio of 5.39 and a beta of 1.01. Rayonier Inc. has a twelve month low of $21.84 and a twelve month high of $32.88.

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

Rayonier Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a $0.2725 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $1.09 annualized dividend and a dividend yield of 4.1%. Rayonier's dividend payout ratio (DPR) is presently 22.02%.

Analyst Ratings Changes

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

Rayonier Company 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.