Rayonier Inc. (NYSE:RYN) Shares Acquired by Firetrail Investments PTY Ltd.

Key Points

• Firetrail Investments PTY Ltd. increased its stake in Rayonier Inc. by 8.5% during the first quarter, owning 417,204 shares which value approximately $11.76 million.
• Analysts have adjusted Rayonier's target price, with Citigroup lowering it from $27.00 to $26.00, maintaining a "neutral" rating, while others have rated it as a "hold".
• Rayonier announced a quarterly dividend of $0.2725 per share, expected to yield 4.57%, with the payment date set for September 30th.

Firetrail Investments PTY Ltd. boosted its holdings in Rayonier Inc. (NYSE:RYN - Free Report) by 8.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 417,204 shares of the real estate investment trust's stock after acquiring an additional 32,714 shares during the period. Rayonier accounts for about 3.4% of Firetrail Investments PTY Ltd.'s portfolio, making the stock its 13th largest holding. Firetrail Investments PTY Ltd. owned approximately 0.27% of Rayonier worth $11,758,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Neo Ivy Capital Management purchased a new stake in shares of Rayonier during the first quarter worth $243,000. Cetera Investment Advisers purchased a new position in Rayonier in the first quarter valued at $244,000. Hamilton Point Investment Advisors LLC increased its holdings in Rayonier by 4.5% in 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 buying an additional 563 shares during the last quarter. Montgomery Investment Management Inc. increased its holdings in Rayonier by 5.0% in the first quarter. Montgomery Investment Management Inc. now owns 20,528 shares of the real estate investment trust's stock valued at $572,000 after buying an additional 985 shares during the last quarter. Finally, Convergence Investment Partners LLC purchased a new position in Rayonier in the first quarter valued at $693,000. 89.12% of the stock is currently owned by institutional investors and hedge funds.

Rayonier Trading Up 0.8%

Shares of RYN traded up $0.18 during mid-day trading on Tuesday, reaching $23.72. The company had a trading volume of 296,270 shares, compared to its average volume of 1,103,785. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of 10.17 and a beta of 1.02. The firm has a fifty day simple moving average of $23.31 and a 200-day simple moving average of $24.92. Rayonier Inc. has a fifty-two week low of $21.84 and a fifty-two week high of $32.88. The company has a current ratio of 2.71, a quick ratio of 2.60 and a debt-to-equity ratio of 0.54.

Rayonier (NYSE:RYN - Get Free Report) last announced its quarterly 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 company had revenue of $82.90 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the business earned $0.01 EPS. On average, sell-side analysts anticipate that Rayonier Inc. will post 0.55 EPS for the current fiscal year.

Rayonier Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued a dividend of $0.2725 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.09 annualized dividend and a dividend yield of 4.60%. Rayonier's payout ratio is 46.78%.

Wall Street Analyst Weigh In

Several research firms recently commented on RYN. Wall Street Zen raised Rayonier from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Truist Financial decreased their target price on shares of Rayonier from $30.00 to $27.00 and set a "hold" rating for the company in a research note on Tuesday, April 22nd. Citigroup reduced their price objective on shares of Rayonier from $27.00 to $26.00 and set a "neutral" rating for the company in a research report on Tuesday, June 3rd. Finally, Royal Bank Of Canada dropped their target price on shares of Rayonier from $28.00 to $27.00 and set a "sector perform" rating for the company in a report on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target 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.