Jupiter Topco LLC Buys Shares of 117,927 Rayonier Inc. $RYN

Key Points

• Jupiter Topco LLC acquired 117,927 Rayonier shares worth approximately $2.5 million in the second quarter. Institutional investors collectively own 89.12% of the timberland REIT.
• Analysts maintain a generally cautious outlook, with one Strong Buy and five Hold ratings. Rayonier has an average consensus rating of Hold and a price target of $24.80.
• Rayonier shares opened at $20.20 after declining 3%, while the company reported quarterly revenue growth of 272.3% and met EPS expectations. It also declared a $0.26 quarterly dividend, representing a 5.1% yield.

Jupiter Topco LLC purchased a new stake in shares of Rayonier Inc. (NYSE:RYN - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 117,927 shares of the real estate investment trust's stock, valued at approximately $2,511,000.

Several other institutional investors have also modified their holdings of the company. Hsbc Holdings PLC acquired a new stake in shares of Rayonier in the 2nd quarter worth approximately $250,000. Ancora Advisors LLC acquired a new position in Rayonier during the second quarter worth $31,589,000. Legal & General Group Plc acquired a new position in Rayonier during the second quarter worth $213,574,000. The Manufacturers Life Insurance Company purchased a new stake in Rayonier during the second quarter worth $16,716,000. Finally, L2 Asset Management LLC purchased a new stake in Rayonier during the second quarter worth $801,000. Hedge funds and other institutional investors own 89.12% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on RYN. Weiss Ratings upgraded Rayonier from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, August 21st. BMO Capital Markets cut their price target on Rayonier from $26.00 to $25.00 and set a "market perform" rating for the company in a research note on Tuesday, May 19th. Truist Financial decreased their price objective on shares of Rayonier from $25.00 to $24.00 and set a "hold" rating on the stock in a research report on Wednesday, July 15th. Finally, Citigroup increased their price objective on shares of Rayonier from $22.00 to $23.00 and gave the company a "neutral" rating in a research note on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $24.80.

Rayonier Trading Down 3.0%

Shares of Rayonier stock opened at $20.20 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.56 and a quick ratio of 2.91. Rayonier Inc. has a 1 year low of $19.49 and a 1 year high of $27.06. The company has a market capitalization of $6.01 billion, a P/E ratio of 44.88 and a beta of 0.87. The business has a 50 day moving average price of $21.43 and a 200 day moving average price of $21.17.

Rayonier (NYSE:RYN - Get Free Report) last announced its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.10 EPS for the quarter, meeting analysts' consensus estimates of $0.10. The firm had revenue of $396.51 million for the quarter, compared to analysts' expectations of $374.28 million. Rayonier had a return on equity of 3.49% and a net margin of 7.83%.Rayonier's quarterly revenue was up 272.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.06 EPS. Sell-side analysts anticipate that Rayonier Inc. will post 0.44 EPS for the current fiscal year.

Rayonier Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 5.1%. The ex-dividend date is Wednesday, September 16th. Rayonier's dividend payout ratio is currently 231.11%.

Rayonier Company Profile

Rayonier, Inc NYSE: RYN is a publicly traded real estate investment trust specializing in timberland ownership and management. The company's core business revolves around sustainably growing, harvesting, and marketing timber and timber-related products. Rayonier's timberland portfolio encompasses approximately 2.7 million acres across the United States and New Zealand, focusing on softwood and hardwood fiber for use in paper, packaging and building materials.

Rayonier operates through two primary segments: Timber and Real Estate Solutions.

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