Rayonier Inc. $RYN Stock Holdings Trimmed by Amundi

Key Points

• Amundi reduced its stake in Rayonier Inc. by 31.8% during Q1, now holding 74,092 shares worth approximately $1,994,000 after selling 34,549 shares.
• Rayonier reported a profit of $0.06 EPS in its latest quarterly earnings, exceeding expectations, with a revenue increase of 6.9% year-over-year, totaling $106.50 million.
• The company announced a quarterly dividend of $0.2725 per share, set to be paid on September 30th, indicating a 4.1% dividend yield.

Amundi decreased its holdings in shares of Rayonier Inc. (NYSE:RYN - Free Report) by 31.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 74,092 shares of the real estate investment trust's stock after selling 34,549 shares during the quarter. Amundi's holdings in Rayonier were worth $1,994,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in RYN. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Rayonier by 30.0% during the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,203,552 shares of the real estate investment trust's stock worth $117,195,000 after purchasing an additional 971,167 shares during the last quarter. Nuveen LLC acquired a new position in Rayonier in the first quarter valued at $26,187,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Rayonier in the first quarter valued at $23,582,000. Millennium Management LLC boosted its holdings in Rayonier by 253.3% in 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 acquiring an additional 784,955 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Rayonier by 2.2% in 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 acquiring an additional 456,363 shares during the last quarter. Institutional investors and hedge funds own 89.12% of the company's stock.

Rayonier Stock Down 0.9%

Shares of NYSE RYN traded down $0.23 during midday trading on Monday, reaching $26.07. 1,485,429 shares of the company's stock were exchanged, compared to its average volume of 872,672. Rayonier Inc. has a 52-week low of $21.84 and a 52-week high of $32.88. The stock has a market capitalization of $4.02 billion, a PE ratio of 5.27 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 business's fifty day moving average price is $25.17 and its two-hundred day moving average price is $24.86.

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

Rayonier Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Tuesday, September 16th. Rayonier's payout ratio is presently 22.02%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Wall Street Zen upgraded Rayonier from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Royal Bank Of Canada raised their price objective on Rayonier from $26.00 to $27.00 and gave the company a "sector perform" rating in a research report on Friday, August 8th. Finally, Citigroup raised their price objective on Rayonier from $26.00 to $27.00 and gave the company a "neutral" rating in a research report on Thursday, August 21st. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, Rayonier has a consensus rating of "Hold" and a consensus target price of $28.00.

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.