Graham Capital Management L.P. Buys New Position in Rayonier Inc. $RYN

Key Points

• Graham Capital Management L.P. has acquired a new stake in Rayonier Inc. by purchasing 57,926 shares valued at approximately $1.6 million.
• Rayonier reported a net margin of 68.53% and earnings per share of $0.06 for its latest quarter, exceeding analysts' expectations.
• The company announced a quarterly dividend of $0.2725 per share, set to be paid on September 30th, with a yield of 4.2%.

Graham Capital Management L.P. bought a new stake in 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 bought 57,926 shares of the real estate investment trust's stock, valued at approximately $1,615,000.

A number of other institutional investors also recently modified their holdings of the business. GKV Capital Management Co. Inc. bought a new stake in shares of Rayonier in the first quarter valued at about $32,000. Ieq Capital LLC acquired a new position in Rayonier in the first quarter valued at about $4,422,000. Corebridge Financial Inc. raised its stake in Rayonier by 2.3% in the first quarter. Corebridge Financial Inc. now owns 155,305 shares of the real estate investment trust's stock valued at $4,330,000 after purchasing an additional 3,427 shares in the last quarter. MetLife Investment Management LLC raised its stake in Rayonier by 3.1% in the first quarter. MetLife Investment Management LLC now owns 78,277 shares of the real estate investment trust's stock valued at $2,182,000 after purchasing an additional 2,331 shares in the last quarter. Finally, Jump Financial LLC raised its stake in Rayonier by 491.7% in the first quarter. Jump Financial LLC now owns 47,582 shares of the real estate investment trust's stock valued at $1,327,000 after purchasing an additional 39,541 shares in the last quarter. Institutional investors own 89.12% of the company's stock.

Rayonier Trading Down 1.4%

Shares of Rayonier stock traded down $0.37 on Monday, hitting $26.38. The stock had a trading volume of 125,470 shares, compared to its average volume of 1,092,453. The stock has a 50 day moving average of $24.75 and a 200 day moving average of $24.86. Rayonier Inc. has a twelve month low of $21.84 and a twelve month high of $32.88. 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 firm has a market capitalization of $4.07 billion, a P/E ratio of 5.32 and a beta of 1.01.

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 (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 company had revenue of $106.50 million during the quarter, compared to the consensus estimate of $95.30 million. During the same quarter in the prior year, the firm posted $0.02 earnings per share. The firm's revenue was up 6.9% compared to the same quarter last year. Sell-side analysts expect that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.

Rayonier Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a $0.2725 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.09 annualized dividend and a dividend yield of 4.1%. Rayonier's dividend payout ratio is currently 22.02%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Citigroup boosted their price target on Rayonier from $26.00 to $27.00 and gave the company a "neutral" rating in a research note on Thursday, August 21st. Royal Bank Of Canada boosted their price target on Rayonier from $26.00 to $27.00 and gave the company a "sector perform" rating in a research note on Friday, August 8th. Finally, Wall Street Zen raised Rayonier from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, Rayonier presently has an average rating of "Hold" and a consensus target price of $28.00.

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.