Firetrail Investments PTY Ltd. Has $11.76 Million Holdings in Rayonier Inc. (NYSE:RYN)

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. grew its position in Rayonier Inc. (NYSE:RYN - Free Report) by 8.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 417,204 shares of the real estate investment trust's stock after purchasing an additional 32,714 shares during the quarter. Rayonier comprises approximately 3.4% of Firetrail Investments PTY Ltd.'s investment portfolio, making the stock its 13th biggest holding. Firetrail Investments PTY Ltd. owned about 0.27% of Rayonier worth $11,758,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in RYN. Neo Ivy Capital Management acquired a new position in Rayonier during the first quarter valued at $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 in 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 in 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.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Wall Street Zen raised shares of Rayonier from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Royal Bank Of Canada decreased their target price on shares of Rayonier from $28.00 to $27.00 and set a "sector perform" rating on the stock in a report on Friday, May 2nd. Truist Financial decreased their target price on shares of Rayonier from $30.00 to $27.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. Finally, Citigroup decreased their target price on shares of Rayonier from $27.00 to $26.00 and set a "neutral" rating on the stock in a report on Tuesday, June 3rd. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $27.75.

Rayonier Stock Performance

NYSE:RYN traded up $0.26 during mid-day trading on Friday, hitting $24.12. The stock had a trading volume of 864,892 shares, compared to its average volume of 1,168,851. The stock has a market capitalization of $3.76 billion, a price-to-earnings ratio of 10.35 and a beta of 1.02. The company has a current ratio of 2.71, a quick ratio of 2.60 and a debt-to-equity ratio of 0.54. The company has a 50 day simple moving average of $23.32 and a 200-day simple moving average of $24.93. Rayonier Inc. has a 52 week low of $21.84 and a 52 week high of $32.88.

Rayonier (NYSE:RYN - Get Free Report) last posted its earnings results on Wednesday, April 30th. The real estate investment trust reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.08 by ($0.10). Rayonier had a net margin of 30.09% and a return on equity of 3.29%. The business had revenue of $82.90 million during the quarter, compared to analyst estimates of $152.99 million. During the same quarter last year, the firm earned $0.01 earnings per share. Rayonier's revenue was down 27.1% compared to the same quarter last year. On average, research analysts expect that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.

Rayonier Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a dividend of $0.2725 per share. The ex-dividend date is Tuesday, September 16th. This represents a $1.09 annualized dividend and a yield of 4.52%. Rayonier's dividend payout ratio (DPR) is 46.78%.

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.