Global Alpha Capital Management Ltd. Has $38.81 Million Stake in Rayonier Inc. (NYSE:RYN)

Key Points

• Global Alpha Capital Management Ltd. increased its holdings in Rayonier Inc. by 21.0%, making it the firm's 12th largest holding with a total of 1,392,099 shares.
• Rayonier recently reported an earnings per share of $0.06, surpassing analyst expectations of $0.03, with revenue growth of 6.9% year-over-year.
• The firm announced a quarterly dividend of $0.2725, representing a 4.2% yield, to be paid on September 30th.

Global Alpha Capital Management Ltd. raised its stake in shares of Rayonier Inc. (NYSE:RYN - Free Report) by 21.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,392,099 shares of the real estate investment trust's stock after purchasing an additional 241,172 shares during the period. Rayonier accounts for 2.8% of Global Alpha Capital Management Ltd.'s portfolio, making the stock its 12th largest holding. Global Alpha Capital Management Ltd. owned 0.89% of Rayonier worth $38,812,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of RYN. Principal Financial Group Inc. raised its holdings in shares of Rayonier by 5.0% in the first quarter. Principal Financial Group Inc. now owns 323,985 shares of the real estate investment trust's stock valued at $9,033,000 after buying an additional 15,382 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Rayonier by 54.6% in the first quarter. GAMMA Investing LLC now owns 2,680 shares of the real estate investment trust's stock valued at $75,000 after buying an additional 947 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Rayonier in the fourth quarter valued at about $376,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Rayonier in the first quarter valued at about $1,017,000. Finally, New York State Teachers Retirement System raised its holdings in shares of Rayonier by 5.4% in the first quarter. New York State Teachers Retirement System now owns 166,119 shares of the real estate investment trust's stock valued at $4,631,000 after buying an additional 8,565 shares during the last quarter. Institutional investors and hedge funds own 89.12% of the company's stock.

Rayonier Price Performance

Rayonier stock traded down $0.16 during midday trading on Monday, reaching $25.90. The company had a trading volume of 1,010,130 shares, compared to its average volume of 1,153,019. The company has a market capitalization of $4.03 billion, a P/E ratio of 5.23 and a beta of 1.00. Rayonier Inc. has a 12-month low of $21.84 and a 12-month high of $32.88. The firm's fifty day simple moving average is $23.47 and its 200-day simple moving average is $24.79. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.50 and a quick ratio of 2.60.

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

Rayonier Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid 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 4.2%. Rayonier's dividend payout ratio is 22.02%.

Analysts Set New Price Targets

A number of research firms have weighed in on RYN. Citigroup reduced their price target on Rayonier from $27.00 to $26.00 and set a "neutral" rating for the company in a research report on Tuesday, June 3rd. Wall Street Zen raised Rayonier from a "sell" rating to a "hold" rating in a research report on Saturday. Royal Bank Of Canada upped their price target on Rayonier from $26.00 to $27.00 and gave the stock a "sector perform" rating in a research report on Friday. Finally, Truist Financial reduced their price target on Rayonier from $30.00 to $27.00 and set a "hold" rating for the company in a research report on Tuesday, April 22nd. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has an average 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.