Squarepoint Ops LLC Has $2.74 Million Holdings in Rayonier Inc. $RYN

Key Points

• Squarepoint Ops LLC increased its Rayonier stake by 193.9% in the second quarter, bringing its holdings to 128,602 shares valued at approximately $2.74 million. Institutional investors and hedge funds collectively own 89.12% of Rayonier.
• Rayonier reported quarterly earnings of $0.10 per share, in line with estimates, while revenue rose 272.3% year over year to $396.51 million, exceeding analyst expectations.
• The company declared a quarterly dividend of $0.26, equivalent to an annualized $1.04 payout and a 5.1% yield. Analysts maintain an overall “Hold” rating, with a consensus price target of $24.80 compared with the stock’s recent price of $20.25.

Squarepoint Ops LLC grew its stake in Rayonier Inc. (NYSE:RYN - Free Report) by 193.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 128,602 shares of the real estate investment trust's stock after purchasing an additional 84,843 shares during the period. Squarepoint Ops LLC's holdings in Rayonier were worth $2,737,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Eurizon Capital SGR S.p.A. bought a new stake in shares of Rayonier in the 4th quarter worth approximately $34,000. Northwestern Mutual Wealth Management Co. raised its stake in Rayonier by 65.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,581 shares of the real estate investment trust's stock worth $34,000 after acquiring an additional 627 shares in the last quarter. Bayban acquired a new position in Rayonier during the first quarter worth $36,000. Whittier Trust Co. lifted its holdings 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 valued at $47,000 after acquiring an additional 969 shares during the period. Finally, North Star Investment Management Corp. acquired a new stake in shares of Rayonier in the 1st quarter valued at $51,000. Institutional investors and hedge funds own 89.12% of the company's stock.

Rayonier Price Performance

Shares of RYN stock opened at $20.25 on Monday. Rayonier Inc. has a 1 year low of $19.49 and a 1 year high of $27.06. The company has a current ratio of 3.56, a quick ratio of 2.91 and a debt-to-equity ratio of 0.36. The firm's 50 day moving average is $21.26 and its 200-day moving average is $21.04. The firm has a market capitalization of $6.03 billion, a price-to-earnings ratio of 45.01 and a beta of 0.87.

Rayonier (NYSE:RYN - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.10 earnings per share for the quarter, meeting analysts' consensus estimates of $0.10. The business had revenue of $396.51 million during the quarter, compared to analyst estimates of $374.28 million. Rayonier had a net margin of 7.83% and a return on equity of 3.49%. Rayonier's revenue for the quarter was up 272.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.06 earnings per share. Sell-side analysts forecast that Rayonier Inc. will post 0.44 EPS for the current fiscal year.

Rayonier Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be issued a $0.26 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $1.04 annualized dividend and a yield of 5.1%. Rayonier's dividend payout ratio (DPR) is currently 231.11%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on RYN shares. BMO Capital Markets dropped their target price on shares of Rayonier from $26.00 to $25.00 and set a "market perform" rating for the company in a research report on Tuesday, May 19th. Weiss Ratings raised shares of Rayonier from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, August 21st. Citigroup lifted their target price on shares of Rayonier from $22.00 to $23.00 and gave the company a "neutral" rating in a research note on Monday, August 10th. Finally, Truist Financial reduced their target price on Rayonier from $25.00 to $24.00 and set a "hold" rating on the stock in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Rayonier has an average rating of "Hold" and a consensus price target of $24.80.

Insider Buying and Selling

In other Rayonier news, EVP Mark Bridwell sold 5,318 shares of the business's stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $20.19, for a total transaction of $107,370.42. Following the completion of the sale, the executive vice president directly owned 131,661 shares of the company's stock, valued at approximately $2,658,235.59. The trade was a 3.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.85% of the stock is currently owned by insiders.

Rayonier Company Profile

Rayonier Inc NYSE: RYN is a real estate investment trust that owns, leases and manages timberlands. The company generates revenue primarily through the sustainable harvesting and sale of timber, including sawtimber, pulpwood and chip products used in construction, packaging, pulp and paper manufacturing, and other wood products industries.

Rayonier's timberland portfolio spans the U.S. South, the Pacific Northwest and New Zealand. In addition to timber operations, the company manages a real estate business that monetizes land through rural and recreational property sales, residential and commercial development, conservation transactions, and other higher-value uses.

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