Invesco Ltd. Buys 368,659 Shares of Rayonier Inc. $RYN

Key Points

• Invesco Ltd. increased its stake in Rayonier Inc. by 99.5%, owning a total of 739,133 shares valued at approximately $20.6 million after acquiring an additional 368,659 shares in the first quarter.
• Multiple hedge funds, including Vanguard and Charles Schwab, have also raised their positions in Rayonier, indicating growing institutional investor interest in the company.
• Rayonier has announced a quarterly dividend of $0.2725 per share, representing a 4.1% yield, with the ex-dividend date set for September 16th.

Invesco Ltd. increased its holdings in Rayonier Inc. (NYSE:RYN - Free Report) by 99.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 739,133 shares of the real estate investment trust's stock after purchasing an additional 368,659 shares during the period. Invesco Ltd. owned approximately 0.47% of Rayonier worth $20,607,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of RYN. Deutsche Bank AG boosted its holdings in Rayonier by 730.8% in the fourth quarter. Deutsche Bank AG now owns 1,829,422 shares of the real estate investment trust's stock worth $47,748,000 after purchasing an additional 1,609,232 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Rayonier in the first quarter worth $23,582,000. Millennium Management LLC boosted its holdings in Rayonier by 253.3% in the fourth quarter. Millennium Management LLC now owns 1,094,880 shares of the real estate investment trust's stock worth $28,576,000 after purchasing an additional 784,955 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Rayonier by 2.2% in the first 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 in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Rayonier by 13.8% in the first 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 in the last quarter. 89.12% of the stock is currently owned by institutional investors.

Rayonier Stock Performance

RYN stock traded down $0.03 during mid-day trading on Wednesday, reaching $26.44. 1,015,327 shares of the stock traded hands, compared to its average volume of 1,102,948. The company has a quick ratio of 3.38, a current ratio of 3.50 and a debt-to-equity ratio of 0.37. Rayonier Inc. has a 52 week low of $21.84 and a 52 week high of $32.88. The business has a 50-day moving average of $24.24 and a two-hundred day moving average of $24.84. The firm has a market capitalization of $4.08 billion, a PE ratio of 5.34 and a beta of 1.00.

Rayonier (NYSE:RYN - Get Free Report) last released its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.06 earnings per share for the quarter, beating 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 business had revenue of $106.50 million during the quarter, compared to analysts' expectations of $95.30 million. During the same quarter last year, the company earned $0.02 earnings per share. The firm's revenue was up 6.9% on a year-over-year basis. As a group, equities analysts predict that Rayonier Inc. will post 0.55 EPS 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 paid a $0.2725 dividend. This represents a $1.09 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Tuesday, September 16th. Rayonier's dividend payout ratio (DPR) is presently 22.02%.

Analyst Ratings Changes

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