Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 12,166 Rayonier Inc. $RYN

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. purchased a new stake in shares of Rayonier Inc. (NYSE:RYN - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,166 shares of the real estate investment trust's stock, valued at approximately $339,000.

A number of other institutional investors have also recently added to or reduced their stakes 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 acquiring an additional 466 shares during the period. Shell Asset Management Co. boosted 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 worth $304,000 after buying an additional 497 shares during the period. Hollencrest Capital Management boosted 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 during the period. Hamilton Point Investment Advisors LLC boosted 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 during the period. Finally, Timber Creek Capital Management LLC boosted 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 during the period. Hedge funds and other institutional investors own 89.12% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on RYN shares. Royal Bank Of Canada upped 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. Citigroup upped their target price on Rayonier from $26.00 to $27.00 and gave the stock a "neutral" rating in a research report on Thursday. Finally, Wall Street Zen raised Rayonier from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $28.00.

Rayonier Stock Down 1.1%

RYN traded down $0.2850 on Monday, reaching $26.8250. The company's stock had a trading volume of 850,745 shares, compared to its average volume of 1,079,421. The business's 50 day moving average is $24.08 and its 200 day moving average is $24.82. Rayonier Inc. has a 1 year low of $21.84 and a 1 year high of $32.88. The stock has a market cap of $4.14 billion, a price-to-earnings ratio of 5.42 and a beta of 1.00. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.50 and a quick ratio of 3.38.

Rayonier (NYSE:RYN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $106.50 million for the quarter, compared to analysts' expectations of $95.30 million. During the same quarter in the prior year, the firm posted $0.02 earnings per share. Rayonier's revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, research analysts forecast that Rayonier Inc. will post 0.55 EPS for the current fiscal year.

Rayonier Announces Dividend

The company 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. The ex-dividend date is Tuesday, September 16th. This represents a $1.09 annualized dividend and a yield of 4.1%. Rayonier's dividend payout ratio is presently 22.02%.

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.