Teacher Retirement System of Texas Purchases 37,044 Shares of Rayonier Inc. (NYSE:RYN)

Teacher Retirement System of Texas raised its holdings in Rayonier Inc. (NYSE:RYN - Free Report) by 126.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 66,327 shares of the real estate investment trust's stock after acquiring an additional 37,044 shares during the period. Teacher Retirement System of Texas' holdings in Rayonier were worth $1,849,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Harvest Fund Management Co. Ltd purchased a new position in Rayonier in the 4th quarter valued at approximately $25,000. American National Bank & Trust acquired a new position in shares of Rayonier during the first quarter worth about $28,000. Parallel Advisors LLC boosted its holdings in Rayonier by 133.5% during the first quarter. Parallel Advisors LLC now owns 1,123 shares of the real estate investment trust's stock worth $31,000 after buying an additional 642 shares in the last quarter. Byrne Asset Management LLC purchased a new stake in Rayonier during the first quarter worth about $38,000. Finally, Steward Partners Investment Advisory LLC lifted its holdings in shares of Rayonier by 264.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,677 shares of the real estate investment trust's stock valued at $44,000 after purchasing an additional 1,217 shares in the last quarter. Hedge funds and other institutional investors own 89.12% of the company's stock.

Wall Street Analyst Weigh In

RYN has been the subject of several recent research reports. Truist Financial lowered their price target on Rayonier from $30.00 to $27.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd. Wall Street Zen raised shares of Rayonier from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Royal Bank Of Canada lowered their target price on shares of Rayonier from $28.00 to $27.00 and set a "sector perform" rating on the stock in a research note on Friday, May 2nd. Finally, Citigroup lowered their price objective on shares of Rayonier from $27.00 to $26.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 3rd. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $27.75.

Rayonier Price Performance

Shares of NYSE:RYN traded down $0.11 on Monday, hitting $23.40. The stock had a trading volume of 707,687 shares, compared to its average volume of 914,203. Rayonier Inc. has a twelve month low of $21.84 and a twelve month high of $31.29. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.60 and a current ratio of 2.71. The firm's 50 day moving average price is $23.29 and its 200-day moving average price is $25.09. The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of 10.04 and a beta of 1.02.

Rayonier (NYSE:RYN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported ($0.02) EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($0.10). Rayonier had a net margin of 30.09% and a return on equity of 3.29%. The company had revenue of $82.90 million during the quarter, compared to the consensus estimate of $152.99 million. During the same period last year, the company earned $0.01 earnings per share. The business's revenue was down 27.1% compared to the same quarter last year. On average, equities research analysts predict that Rayonier Inc. will post 0.55 earnings per share for the current year.

Rayonier Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date of this dividend was Monday, June 16th. Rayonier's dividend payout ratio is currently 46.78%.

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.