Cubist Systematic Strategies LLC Boosts Stake in Rayonier Inc. $RYN

Key Points

• Cubist Systematic Strategies LLC significantly increased its holdings in Rayonier Inc. by 322.2% during the first quarter, now owning 28,446 shares valued at approximately $793,000.
• Rayonier recently reported earnings with a net margin of 68.53% and a revenue increase of 6.9% year-over-year, exceeding analysts' expectations.
• The company announced a quarterly dividend of $0.2725 per share, translating to an annual yield of 4.2%, set to be paid on September 30th.

Cubist Systematic Strategies LLC boosted its stake in shares of Rayonier Inc. (NYSE:RYN - Free Report) by 322.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,446 shares of the real estate investment trust's stock after acquiring an additional 21,709 shares during the quarter. Cubist Systematic Strategies LLC's holdings in Rayonier were worth $793,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in Rayonier by 5.0% during the first quarter. Principal Financial Group Inc. now owns 323,985 shares of the real estate investment trust's stock worth $9,033,000 after acquiring an additional 15,382 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Rayonier by 54.6% during the first quarter. GAMMA Investing LLC now owns 2,680 shares of the real estate investment trust's stock valued at $75,000 after buying an additional 947 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of Rayonier during the first quarter valued at approximately $1,017,000. New York State Teachers Retirement System grew its stake in shares of Rayonier by 5.4% during the first quarter. New York State Teachers Retirement System now owns 166,119 shares of the real estate investment trust's stock valued at $4,631,000 after buying an additional 8,565 shares during the last quarter. Finally, Mutual of America Capital Management LLC grew its stake in shares of Rayonier by 2.1% during the first quarter. Mutual of America Capital Management LLC now owns 72,324 shares of the real estate investment trust's stock valued at $2,016,000 after buying an additional 1,487 shares during the last quarter. 89.12% of the stock is owned by institutional investors.

Rayonier Trading Down 1.7%

Shares of NYSE RYN traded down $0.47 during trading hours on Friday, reaching $26.31. The stock had a trading volume of 816,283 shares, compared to its average volume of 877,302. 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 firm has a market cap of $4.06 billion, a price-to-earnings ratio of 5.31 and a beta of 1.01. The business's fifty day moving average price is $25.10 and its two-hundred day moving average price is $24.88. Rayonier Inc. has a 52-week low of $21.84 and a 52-week high of $32.88.

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

Rayonier Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued a $0.2725 dividend. 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 payout ratio is presently 22.02%.

Wall Street Analysts Forecast Growth

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