Groupe la Francaise acquired a new stake in Rayonier Inc. (NYSE:RYN - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund acquired 20,535 shares of the real estate investment trust's stock, valued at approximately $572,000.
Other hedge funds have also bought and sold shares of the company. American National Bank & Trust purchased a new position in Rayonier in the 1st quarter valued at approximately $28,000. Elequin Capital LP purchased a new position in Rayonier in the 1st quarter valued at approximately $30,000. Parallel Advisors LLC grew its stake in Rayonier by 133.5% in the 1st quarter. Parallel Advisors LLC now owns 1,123 shares of the real estate investment trust's stock valued at $31,000 after buying an additional 642 shares in the last quarter. GKV Capital Management Co. Inc. purchased a new position in Rayonier in the 1st quarter valued at approximately $32,000. Finally, Byrne Asset Management LLC purchased a new position in Rayonier in the 1st quarter valued at approximately $38,000. 89.12% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on RYN. Wall Street Zen upgraded shares of Rayonier from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Royal Bank Of Canada boosted their price target on shares of Rayonier from $26.00 to $27.00 and gave the company a "sector perform" rating in a research report on Friday, August 8th. Finally, Citigroup boosted their price target on shares of Rayonier from $26.00 to $27.00 and gave the company a "neutral" rating in a research report on Thursday. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $28.00.
Get Our Latest Stock Analysis on RYN
Rayonier Stock Up 1.9%
RYN opened at $27.1330 on Monday. Rayonier Inc. has a one year low of $21.84 and a one year high of $32.88. The company has a fifty day moving average price of $24.00 and a 200-day moving average price of $24.81. The firm has a market capitalization of $4.18 billion, a P/E ratio of 5.48 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 earnings results on Wednesday, August 6th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.03. Rayonier had a net margin of 68.53% and a return on equity of 3.39%. The company had revenue of $106.50 million during the quarter, compared to analyst estimates of $95.30 million. During the same period in the previous year, the business earned $0.02 earnings per share. The firm's quarterly revenue was up 6.9% compared to the same quarter last year. Equities research analysts expect that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.
Rayonier Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a $0.2725 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $1.09 annualized dividend and a yield of 4.0%. Rayonier's payout ratio is 22.02%.
About Rayonier
(
Free Report)
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.
See Also
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