GAMMA Investing LLC Boosts Stock Holdings in Rayonier Inc. (NYSE:RYN)

GAMMA Investing LLC raised its holdings in Rayonier Inc. (NYSE:RYN - Free Report) by 4,211.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 74,718 shares of the real estate investment trust's stock after purchasing an additional 72,985 shares during the period. GAMMA Investing LLC's holdings in Rayonier were worth $2,083,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Rhumbline Advisers increased its holdings in shares of Rayonier by 0.3% in the fourth quarter. Rhumbline Advisers now owns 421,773 shares of the real estate investment trust's stock valued at $11,008,000 after purchasing an additional 1,279 shares during the last quarter. State of New Jersey Common Pension Fund D grew its holdings in Rayonier by 7.3% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 69,809 shares of the real estate investment trust's stock valued at $1,822,000 after buying an additional 4,731 shares in the last quarter. Handelsbanken Fonder AB increased its stake in shares of Rayonier by 6.8% in the 4th quarter. Handelsbanken Fonder AB now owns 43,739 shares of the real estate investment trust's stock worth $1,142,000 after acquiring an additional 2,800 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of Rayonier in the 4th quarter worth $327,000. Finally, Proficio Capital Partners LLC purchased a new position in shares of Rayonier during the 4th quarter worth $648,000. 89.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Citigroup dropped their price objective on shares of Rayonier from $27.00 to $26.00 and set a "neutral" rating for the company in a report on Tuesday, June 3rd. Raymond James Financial raised shares of Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 price target on the stock in a research report on Wednesday, March 12th. Royal Bank Of Canada lowered their price objective on Rayonier from $28.00 to $27.00 and set a "sector perform" rating for the company in a research report on Friday, May 2nd. Wall Street Zen upgraded Rayonier from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, Truist Financial lowered their price target on Rayonier from $30.00 to $27.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $27.75.

Rayonier Trading Down 1.9%

Shares of NYSE:RYN traded down $0.44 during mid-day trading on Tuesday, reaching $22.50. 1,540,383 shares of the company were exchanged, compared to its average volume of 883,193. Rayonier Inc. has a 1 year low of $22.30 and a 1 year high of $31.29. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.71 and a quick ratio of 2.60. The firm's 50-day simple moving average is $23.93 and its 200 day simple moving average is $25.87. The firm has a market cap of $3.50 billion, a price-to-earnings ratio of 9.65 and a beta of 1.05.

Rayonier (NYSE:RYN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.10). Rayonier had a net margin of 30.09% and a return on equity of 3.29%. The firm had revenue of $82.90 million during the quarter, compared to analysts' expectations of $152.99 million. During the same quarter in the prior year, the firm posted $0.01 EPS. Rayonier's quarterly revenue was down 27.1% compared to the same quarter last year. Equities research analysts forecast that Rayonier Inc. will post 0.55 EPS for the current year.

Rayonier Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a $0.2725 dividend. This represents a $1.09 annualized dividend and a dividend yield of 4.85%. The ex-dividend date of this dividend is Monday, June 16th. Rayonier's payout ratio is 46.78%.

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.