Impax Asset Management Group plc Has $144.67 Million Stock Holdings in Rayonier Inc. (NYSE:RYN)

Impax Asset Management Group plc decreased its holdings in Rayonier Inc. (NYSE:RYN - Free Report) by 12.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,227,844 shares of the real estate investment trust's stock after selling 736,120 shares during the quarter. Impax Asset Management Group plc owned approximately 3.35% of Rayonier worth $144,668,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Timber Creek Capital Management LLC boosted its stake in Rayonier by 4.5% in the first quarter. Timber Creek Capital Management LLC now owns 13,957 shares of the real estate investment trust's stock worth $389,000 after purchasing an additional 596 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Rayonier by 5.0% in 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 purchasing an additional 15,382 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Rayonier by 4.8% in the first quarter. Oregon Public Employees Retirement Fund now owns 28,568 shares of the real estate investment trust's stock worth $796,000 after purchasing an additional 1,315 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in Rayonier by 126.5% in the first quarter. Teacher Retirement System of Texas now owns 66,327 shares of the real estate investment trust's stock worth $1,849,000 after purchasing an additional 37,044 shares in the last quarter. Finally, New York State Teachers Retirement System lifted its position 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 worth $4,631,000 after purchasing an additional 8,565 shares in the last quarter. Institutional investors and hedge funds own 89.12% of the company's stock.

Rayonier Stock Up 1.7%

Rayonier stock traded up $0.39 during mid-day trading on Tuesday, reaching $23.07. The company's stock had a trading volume of 1,302,299 shares, compared to its average volume of 914,344. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of 9.90 and a beta of 1.02. Rayonier Inc. has a 12 month low of $21.84 and a 12 month high of $31.29. The business's 50 day simple moving average is $23.31 and its 200 day simple moving average is $25.15. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.60 and a current ratio of 2.71.

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

Rayonier Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date of this dividend was Monday, June 16th. Rayonier's dividend payout ratio (DPR) is presently 46.78%.

Analyst Ratings Changes

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

Rayonier 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.