Swiss National Bank Cuts Holdings in Rayonier Inc. $RYN

Key Points

• The Swiss National Bank reduced its stake in Rayonier Inc. by 6.2%, now owning approximately 0.18% of the company, worth about $7.64 million.
• Rayonier reported $0.06 EPS for the quarter, surpassing expectations of $0.03 EPS, and experienced a 6.9% increase in revenue year-over-year.
• Rayonier declared a quarterly dividend of $0.2725 per share, representing a 4.1% dividend yield with a payout ratio of 22.02%.

Swiss National Bank reduced its position in Rayonier Inc. (NYSE:RYN - Free Report) by 6.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 274,176 shares of the real estate investment trust's stock after selling 18,206 shares during the quarter. Swiss National Bank owned about 0.18% of Rayonier worth $7,644,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. grew its holdings in Rayonier by 5.0% in the first quarter. Principal Financial Group Inc. now owns 323,985 shares of the real estate investment trust's stock worth $9,033,000 after purchasing an additional 15,382 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Rayonier by 54.6% during the first quarter. GAMMA Investing LLC now owns 2,680 shares of the real estate investment trust's stock worth $75,000 after buying an additional 947 shares during the period. Marshall Wace LLP acquired a new stake in shares of Rayonier during the fourth quarter worth $376,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Rayonier during the first quarter worth $1,017,000. Finally, New York State Teachers Retirement System lifted its stake in shares of Rayonier by 5.4% during the first quarter. New York State Teachers Retirement System now owns 166,119 shares of the real estate investment trust's stock worth $4,631,000 after buying an additional 8,565 shares during the period. 89.12% of the stock is owned by hedge funds and other institutional investors.

Rayonier Stock Performance

RYN traded down $0.0450 on Thursday, reaching $26.6050. The stock had a trading volume of 738,648 shares, compared to its average volume of 1,073,664. Rayonier Inc. has a 12-month low of $21.84 and a 12-month high of $32.88. The company has a current ratio of 3.50, a quick ratio of 3.38 and a debt-to-equity ratio of 0.37. The business's 50-day moving average price is $23.93 and its two-hundred day moving average price is $24.82. The company has a market cap of $4.10 billion, a P/E ratio of 5.37 and a beta of 1.00.

Rayonier (NYSE:RYN - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.03. Rayonier had a net margin of 68.53% and a return on equity of 3.39%. The company had revenue of $106.50 million during the quarter, compared to analysts' expectations of $95.30 million. During the same quarter in the previous year, the company earned $0.02 earnings per share. The firm's revenue for the quarter was up 6.9% on a year-over-year basis. Sell-side analysts forecast that Rayonier Inc. will post 0.55 earnings per share for the current year.

Rayonier Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a $0.2725 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.09 dividend on an annualized basis and a yield of 4.1%. Rayonier's payout ratio is presently 22.02%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on RYN shares. Wall Street Zen upgraded shares of Rayonier from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Royal Bank Of Canada lifted their price objective on shares of Rayonier from $26.00 to $27.00 and gave the stock a "sector perform" rating in a research note on Friday, August 8th. Finally, Citigroup lifted their price objective on shares of Rayonier from $26.00 to $27.00 and gave the stock a "neutral" rating in a research note on Thursday. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $28.00.

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.