Northern Trust Corp Acquires 38,704 Shares of Rayonier Inc. $RYN

Key Points

• Northern Trust Corp increased its stake in Rayonier Inc. by 2.5% during the first quarter, owning approximately 1.02% of the company, valued at around $44.1 million.
• Rayonier reported a quarterly earnings per share (EPS) of $0.06, surpassing the expected $0.03, along with a revenue of $106.5 million, exceeding estimates of $95.3 million.
• Rayonier has declared a quarterly dividend of $0.2725 per share, representing an annual dividend yield of 4.2% and a payout ratio of 22.02%.

Northern Trust Corp lifted its stake in shares of Rayonier Inc. (NYSE:RYN - Free Report) by 2.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,582,227 shares of the real estate investment trust's stock after acquiring an additional 38,704 shares during the period. Northern Trust Corp owned 1.02% of Rayonier worth $44,112,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of RYN. Deutsche Bank AG raised its holdings in Rayonier by 730.8% during the fourth quarter. Deutsche Bank AG now owns 1,829,422 shares of the real estate investment trust's stock worth $47,748,000 after buying an additional 1,609,232 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Rayonier in the first quarter valued at about $26,187,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Rayonier during the first quarter valued at about $23,582,000. Millennium Management LLC grew its position in Rayonier by 253.3% during the fourth quarter. Millennium Management LLC now owns 1,094,880 shares of the real estate investment trust's stock valued at $28,576,000 after buying an additional 784,955 shares during the period. Finally, Vanguard Group Inc. grew its position in Rayonier by 2.2% during the first quarter. Vanguard Group Inc. now owns 20,862,953 shares of the real estate investment trust's stock valued at $581,659,000 after buying an additional 456,363 shares during the period. Institutional investors and hedge funds own 89.12% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on RYN. Citigroup increased their price target on shares of Rayonier from $26.00 to $27.00 and gave the company a "neutral" rating in a research report on Thursday, August 21st. Royal Bank Of Canada increased their target price on shares of Rayonier from $26.00 to $27.00 and gave the stock a "sector perform" rating in a research report on Friday, August 8th. Finally, Wall Street Zen upgraded shares of Rayonier from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $28.00.

Rayonier Price Performance

Rayonier stock traded up $0.13 during mid-day trading on Wednesday, hitting $25.94. 66,378 shares of the company traded hands, compared to its average volume of 1,096,504. Rayonier Inc. has a one year low of $21.84 and a one year high of $32.88. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of 5.24 and a beta of 1.01. The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.38 and a current ratio of 3.50. The stock has a fifty day moving average price of $24.52 and a 200-day moving average price of $24.86.

Rayonier (NYSE:RYN - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.06 EPS for the quarter, topping the consensus estimate of $0.03 by $0.03. The firm had revenue of $106.50 million for the quarter, compared to the consensus estimate of $95.30 million. Rayonier had a net margin of 68.53% and a return on equity of 3.39%. The business's revenue was up 6.9% compared to the same quarter last year. During the same period last year, the firm posted $0.02 earnings per share. On average, equities analysts predict 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 issued a $0.2725 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $1.09 annualized dividend and a yield of 4.2%. Rayonier's payout ratio is 22.02%.

Rayonier Company 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.