Focus Partners Wealth Invests $11.91 Million in Rayonier Inc. $RYN

Key Points

• Focus Partners Wealth invested approximately $11.91 million in Rayonier Inc. by purchasing 427,280 shares, corresponding to about 0.27% ownership in the company.
• Rayonier Inc. reported earnings of $0.06 per share for the quarter, surpassing analysts' expectations, with a net margin of 68.53% and a year-over-year revenue growth of 6.9%.
• The company announced a quarterly dividend of $0.2725 with a dividend yield of 4.1%, set to be paid on September 30th.

Focus Partners Wealth acquired a new position in Rayonier Inc. (NYSE:RYN - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 427,280 shares of the real estate investment trust's stock, valued at approximately $11,913,000. Focus Partners Wealth owned 0.27% of Rayonier as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Rayonier by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 20,862,953 shares of the real estate investment trust's stock worth $581,659,000 after purchasing an additional 456,363 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Rayonier by 30.0% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,203,552 shares of the real estate investment trust's stock worth $117,195,000 after purchasing an additional 971,167 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Rayonier by 4.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,607,211 shares of the real estate investment trust's stock worth $72,689,000 after purchasing an additional 118,409 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Rayonier by 13.8% during the 1st quarter. Victory Capital Management Inc. now owns 2,515,298 shares of the real estate investment trust's stock worth $70,127,000 after purchasing an additional 304,803 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Rayonier by 2.5% during the 1st quarter. Northern Trust Corp now owns 1,582,227 shares of the real estate investment trust's stock worth $44,112,000 after purchasing an additional 38,704 shares during the last quarter. Institutional investors and hedge funds own 89.12% of the company's stock.

Rayonier Price Performance

NYSE RYN traded down $0.23 during trading on Monday, reaching $26.07. 1,485,429 shares of the company traded hands, compared to its average volume of 872,672. The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.38 and a current ratio of 3.50. The stock's 50 day moving average price is $25.17 and its two-hundred day moving average price is $24.86. The company has a market cap of $4.02 billion, a price-to-earnings ratio of 5.27 and a beta of 1.01. Rayonier Inc. has a 1-year low of $21.84 and a 1-year 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 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.03. The company had revenue of $106.50 million for the quarter, compared to the consensus estimate of $95.30 million. Rayonier had a return on equity of 3.39% and a net margin of 68.53%.The company's quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.02 earnings per share. As a group, analysts anticipate that Rayonier Inc. will post 0.55 EPS for the current year.

Rayonier Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Tuesday, September 16th. Rayonier's payout ratio is presently 22.02%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RYN. Citigroup boosted their price objective on 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 raised Rayonier from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Royal Bank Of Canada lifted 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. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Rayonier currently has a consensus rating of "Hold" and an average 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.