Invesco Ltd. Boosts Stock Holdings in 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. grew its stake in shares of Rayonier Inc. (NYSE:RYN - Free Report) by 99.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Securian Asset Management Inc. raised its holdings in shares of Rayonier by 4.6% during the first quarter. Securian Asset Management Inc. now owns 10,603 shares of the real estate investment trust's stock valued at $296,000 after purchasing an additional 466 shares during the period. Shell Asset Management Co. raised its holdings in shares of Rayonier by 4.5% during the fourth quarter. Shell Asset Management Co. now owns 11,652 shares of the real estate investment trust's stock valued at $304,000 after purchasing an additional 497 shares during the period. Hollencrest Capital Management raised its holdings in shares of Rayonier by 5.1% during the first quarter. Hollencrest Capital Management now owns 10,509 shares of the real estate investment trust's stock valued at $293,000 after purchasing an additional 509 shares during the period. Hamilton Point Investment Advisors LLC raised its holdings in shares of Rayonier by 4.5% during the first quarter. Hamilton Point Investment Advisors LLC now owns 13,183 shares of the real estate investment trust's stock valued at $368,000 after purchasing an additional 563 shares during the period. Finally, Timber Creek Capital Management LLC raised its holdings in shares of Rayonier by 4.5% during the first quarter. Timber Creek Capital Management LLC now owns 13,957 shares of the real estate investment trust's stock valued at $389,000 after purchasing an additional 596 shares during the period. Institutional investors and hedge funds own 89.12% of the company's stock.

Rayonier Stock Up 1.9%

NYSE:RYN traded up $0.5130 on Friday, hitting $27.1330. The stock had a trading volume of 951,345 shares, compared to its average volume of 1,075,099. 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 stock has a market cap of $4.18 billion, a P/E ratio of 5.48 and a beta of 1.00. Rayonier Inc. has a 1 year low of $21.84 and a 1 year high of $32.88. The firm's fifty day simple moving average is $24.00 and its two-hundred day simple moving average is $24.82.

Rayonier (NYSE:RYN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.06 EPS for the quarter, beating the consensus estimate of $0.03 by $0.03. The firm had revenue of $106.50 million during the quarter, compared to analyst estimates of $95.30 million. Rayonier had a net margin of 68.53% and a return on equity of 3.39%. The company's revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the business posted $0.02 EPS. Analysts predict that Rayonier Inc. will post 0.55 earnings per share for the current year.

Rayonier Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid 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 dividend payout ratio (DPR) is 22.02%.

Wall Street Analyst Weigh In

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