Rayonier Inc. $RYN Shares Purchased by Janus Henderson Group PLC

Key Points

• Janus Henderson Group more than doubled its Rayonier stake to 133,727 shares during the first quarter, with the position valued at approximately $2.76 million. Institutional investors and hedge funds collectively own 89.12% of RYN.
• Analyst sentiment remains cautious: Rayonier has an average “Hold” rating and a consensus price target of $24.60, with recent target reductions from Citigroup, Truist Financial, and BMO Capital Markets.
• Rayonier reported quarterly EPS of $0.10 in line with estimates, while revenue of $396.5 million exceeded expectations and rose 272.3% year over year. The company declared a $0.26 quarterly dividend, yielding approximately 4.8% annually.

Janus Henderson Group PLC boosted its position in Rayonier Inc. (NYSE:RYN - Free Report) by 104.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 133,727 shares of the real estate investment trust's stock after buying an additional 68,166 shares during the period. Janus Henderson Group PLC's holdings in Rayonier were worth $2,759,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Eurizon Capital SGR S.p.A. purchased a new position in Rayonier during the 4th quarter worth $34,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Rayonier by 65.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,581 shares of the real estate investment trust's stock valued at $34,000 after acquiring an additional 627 shares in the last quarter. Bayban purchased a new stake in shares of Rayonier in the first quarter valued at about $36,000. Whittier Trust Co. increased its stake in shares of Rayonier by 74.0% during the first quarter. Whittier Trust Co. now owns 2,279 shares of the real estate investment trust's stock worth $47,000 after acquiring an additional 969 shares during the period. Finally, North Star Investment Management Corp. purchased a new position in Rayonier during the first quarter worth about $51,000. 89.12% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on RYN. Royal Bank Of Canada set a $24.00 price objective on Rayonier in a report on Thursday, April 16th. Weiss Ratings downgraded Rayonier from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, May 12th. Citigroup reduced their price target on Rayonier from $24.00 to $22.00 and set a "neutral" rating for the company in a report on Wednesday, May 13th. Truist Financial decreased their price target on Rayonier from $25.00 to $24.00 and set a "hold" rating on the stock in a research note on Wednesday, July 15th. Finally, BMO Capital Markets dropped their price objective on Rayonier from $26.00 to $25.00 and set a "market perform" rating on the stock in a report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $24.60.

Rayonier Stock Performance

RYN opened at $21.78 on Friday. Rayonier Inc. has a 1-year low of $19.49 and a 1-year high of $27.33. The stock has a market cap of $6.55 billion, a P/E ratio of 48.41 and a beta of 0.87. The stock's 50 day simple moving average is $21.41 and its 200 day simple moving average is $21.43. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.56 and a quick ratio of 2.21.

Rayonier (NYSE:RYN - Get Free Report) last posted its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.10 EPS for the quarter, hitting analysts' consensus estimates of $0.10. The company had revenue of $396.51 million for the quarter, compared to the consensus estimate of $374.28 million. Rayonier had a return on equity of 3.49% and a net margin of 7.83%.Rayonier's quarterly revenue was up 272.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.06 earnings per share. As a group, equities analysts anticipate that Rayonier Inc. will post 0.39 EPS for the current fiscal year.

Rayonier Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend is Wednesday, September 16th. Rayonier's payout ratio is 231.11%.

Rayonier Profile

Rayonier, Inc NYSE: RYN is a publicly traded real estate investment trust specializing in timberland ownership and management. The company's core business revolves around sustainably growing, harvesting, and marketing timber and timber-related products. Rayonier's timberland portfolio encompasses approximately 2.7 million acres across the United States and New Zealand, focusing on softwood and hardwood fiber for use in paper, packaging and building materials.

Rayonier operates through two primary segments: Timber and Real Estate Solutions.

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