Rayonier Inc. (NYSE:RYN) Shares Acquired by Central Securities Corp

Key Points

• Central Securities Corp increased its stake in Rayonier Inc. by 4.5%, owning over 1.2 million shares, which constitutes 3.2% of its investment portfolio.
• Rayonier recently reported a (0.02) earnings per share for the last quarter, falling short of the analyst estimate of $0.08, with a significant revenue drop of 27.1% year-over-year.
• The company announced a quarterly dividend of $0.2725 per share, reflecting an annualized dividend yield of 4.52%.

Central Securities Corp increased its stake in Rayonier Inc. (NYSE:RYN - Free Report) by 4.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,201,474 shares of the real estate investment trust's stock after purchasing an additional 51,474 shares during the period. Rayonier accounts for about 3.2% of Central Securities Corp's portfolio, making the stock its 15th largest position. Central Securities Corp owned about 0.77% of Rayonier worth $33,497,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. American National Bank & Trust acquired a new position in Rayonier during the first quarter valued at $28,000. Parallel Advisors LLC lifted its holdings in shares of Rayonier by 133.5% in the 1st quarter. Parallel Advisors LLC now owns 1,123 shares of the real estate investment trust's stock valued at $31,000 after buying an additional 642 shares during the period. Byrne Asset Management LLC purchased a new stake in shares of Rayonier in the first quarter worth about $38,000. Covestor Ltd grew its holdings in Rayonier by 30.0% during the fourth quarter. Covestor Ltd now owns 2,317 shares of the real estate investment trust's stock worth $60,000 after acquiring an additional 535 shares during the period. Finally, GAMMA Investing LLC raised its position in Rayonier by 54.6% during the first quarter. GAMMA Investing LLC now owns 2,680 shares of the real estate investment trust's stock valued at $75,000 after acquiring an additional 947 shares in the last quarter. Hedge funds and other institutional investors own 89.12% of the company's stock.

Rayonier Price Performance

Shares of RYN stock traded up $0.34 on Wednesday, reaching $24.05. 415,114 shares of the company were exchanged, compared to its average volume of 1,102,081. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.60 and a current ratio of 2.71. Rayonier Inc. has a 1 year low of $21.84 and a 1 year high of $32.88. The company has a market cap of $3.75 billion, a price-to-earnings ratio of 10.32 and a beta of 1.02. The business has a 50-day moving average price of $23.30 and a 200 day moving average price of $24.91.

Rayonier (NYSE:RYN - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $82.90 million during the quarter, compared to analysts' expectations of $152.99 million. Rayonier had a net margin of 30.09% and a return on equity of 3.29%. The company's revenue for the quarter was down 27.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.01 EPS. Equities research analysts forecast that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.

Rayonier Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date is Tuesday, September 16th. Rayonier's dividend payout ratio is currently 46.78%.

Wall Street Analyst Weigh In

RYN has been the subject of several analyst reports. 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. Royal Bank Of Canada dropped their target price on Rayonier from $28.00 to $27.00 and set a "sector perform" rating on the stock in a research report on Friday, May 2nd. Citigroup reduced their price target on Rayonier from $27.00 to $26.00 and set a "neutral" rating for the company in a report on Tuesday, June 3rd. Finally, Wall Street Zen raised Rayonier from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price 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.