Quantbot Technologies LP Invests $1.60 Million in Rayonier Inc. $RYN

Key Points

• Quantbot Technologies LP purchased 75,429 Rayonier shares worth approximately $1.60 million in the second quarter. Institutional investors collectively own 89.12% of the timberland REIT.
• Rayonier reported quarterly revenue of $396.51 million, up 272.3% year over year, while earnings of $0.10 per share matched analyst expectations.
• The company declared a quarterly dividend of $0.26 per share, equivalent to a 4.9% annualized yield. Analysts maintain a consensus “Hold” rating with a $24.80 target price, compared with the stock’s $21.21 opening price.

Quantbot Technologies LP bought a new stake in Rayonier Inc. (NYSE:RYN - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 75,429 shares of the real estate investment trust's stock, valued at approximately $1,605,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. bought a new stake in Rayonier during the second quarter worth $617,451,000. Norges Bank bought a new position in Rayonier in the 4th quarter valued at $313,806,000. Deprince Race & Zollo Inc. purchased a new stake in shares of Rayonier during the 1st quarter valued at $85,771,000. Fuller & Thaler Asset Management Inc. increased its position in shares of Rayonier by 232.2% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 5,647,156 shares of the real estate investment trust's stock valued at $122,261,000 after purchasing an additional 3,947,226 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Rayonier during the 2nd quarter valued at $52,572,000. 89.12% of the stock is owned by hedge funds and other institutional investors.

Rayonier Stock Performance

NYSE:RYN opened at $21.21 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.56 and a quick ratio of 2.91. The business has a fifty day simple moving average of $21.48 and a two-hundred day simple moving average of $21.26. Rayonier Inc. has a 1 year low of $19.49 and a 1 year high of $27.10. The company has a market capitalization of $6.31 billion, a P/E ratio of 47.13 and a beta of 0.87.

Rayonier (NYSE:RYN - Get Free Report) last issued its quarterly 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%.The business's revenue for the quarter was up 272.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.06 EPS. On average, analysts expect that Rayonier Inc. will post 0.42 earnings per share for the current year.

Rayonier Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $1.04 annualized dividend and a yield of 4.9%. Rayonier's dividend payout ratio is 231.11%.

Wall Street Analysts Forecast Growth

RYN has been the topic of a number of research analyst reports. Citigroup boosted their price target on shares of Rayonier from $22.00 to $23.00 and gave the stock a "neutral" rating in a report on Monday, August 10th. Weiss Ratings upgraded shares of Rayonier from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday. BMO Capital Markets lowered their price objective on shares of Rayonier from $26.00 to $25.00 and set a "market perform" rating on the stock in a research report on Tuesday, May 19th. Finally, Truist Financial dropped their target price on shares of Rayonier from $25.00 to $24.00 and set a "hold" rating on the stock in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $24.80.

About Rayonier

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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