12,166 Shares in Rayonier Inc. $RYN Purchased by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. recently acquired a new stake in Rayonier Inc., purchasing 12,166 shares valued at approximately $339,000.
• Rayonier declared a quarterly dividend of $0.2725, which will be paid to stockholders on September 30th, representing an annualized yield of 4.1%.
• Rayonier reported earnings of $0.06 per share for the last quarter, exceeding analysts' expectations and marking a 6.9% increase in revenue from the same period last year.

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Rayonier Inc. (NYSE:RYN - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,166 shares of the real estate investment trust's stock, valued at approximately $339,000.

Other institutional investors have also recently made changes to their positions in the company. Securian Asset Management Inc. grew its position in Rayonier by 4.6% during 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 buying an additional 466 shares during the period. Shell Asset Management Co. grew its position in Rayonier by 4.5% during 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 buying an additional 497 shares during the period. Hollencrest Capital Management grew its position in Rayonier by 5.1% during the first quarter. Hollencrest Capital Management now owns 10,509 shares of the real estate investment trust's stock valued at $293,000 after buying an additional 509 shares during the period. Hamilton Point Investment Advisors LLC grew its position in Rayonier by 4.5% during the first quarter. Hamilton Point Investment Advisors LLC now owns 13,183 shares of the real estate investment trust's stock valued at $368,000 after buying an additional 563 shares during the period. Finally, Timber Creek Capital Management LLC grew its position in Rayonier by 4.5% during the first quarter. Timber Creek Capital Management LLC now owns 13,957 shares of the real estate investment trust's stock valued at $389,000 after buying an additional 596 shares during the period. Hedge funds and other institutional investors own 89.12% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on RYN. Wall Street Zen upgraded shares of Rayonier from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Royal Bank Of Canada upped their price objective on shares of 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 lifted their target price on shares of Rayonier from $26.00 to $27.00 and gave the company a "neutral" rating in a research report on Thursday. 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 has an average rating of "Hold" and an average target price of $28.00.

Rayonier Price Performance

Shares of NYSE RYN traded down $0.25 during trading on Monday, hitting $26.86. The company had a trading volume of 78,775 shares, compared to its average volume of 1,101,867. The stock has a fifty day simple moving average of $24.00 and a two-hundred day simple moving average of $24.81. Rayonier Inc. has a fifty-two week low of $21.84 and a fifty-two week high of $32.88. The firm has a market capitalization of $4.14 billion, a price-to-earnings ratio of 5.43 and a beta of 1.00. 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 (NYSE:RYN - Get Free Report) last posted its quarterly 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 firm had revenue of $106.50 million for the quarter, compared to analyst estimates of $95.30 million. Rayonier had a net margin of 68.53% and a return on equity of 3.39%. Rayonier's quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.02 earnings per share. On average, research analysts expect that Rayonier Inc. will post 0.55 earnings per share for the current year.

Rayonier Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Tuesday, September 16th. This represents a $1.09 dividend on an annualized basis and a yield of 4.1%. Rayonier's payout ratio is presently 22.02%.

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.