Tidal Investments LLC Has $596,000 Stock Holdings in Rayonier Inc. $RYN

Key Points

• Tidal Investments cut its Rayonier stake by 92.6% in the second quarter, selling 349,367 shares and retaining 28,001 shares valued at approximately $596,000. Institutional investors collectively own 89.12% of the REIT.
• Analysts maintain a broadly neutral outlook, with a consensus “Hold” rating and an average price target of $24.80. Recent target changes ranged from $23 to $24.
• Rayonier reported quarterly revenue of $396.5 million, up 272.3% year over year, while earnings of $0.10 per share matched estimates. The company declared a $0.26 quarterly dividend, equating to a 5.2% annualized yield.

Tidal Investments LLC trimmed its position in Rayonier Inc. (NYSE:RYN - Free Report) by 92.6% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 28,001 shares of the real estate investment trust's stock after selling 349,367 shares during the period. Tidal Investments LLC's holdings in Rayonier were worth $596,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Eurizon Capital SGR S.p.A. purchased a new position in shares of Rayonier in the 4th quarter worth approximately $34,000. Bayban purchased a new stake in shares of Rayonier during the first quarter valued at approximately $36,000. Whittier Trust Co. lifted its holdings in 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. North Star Investment Management Corp. purchased a new position in Rayonier in the first quarter worth $51,000. Finally, Sunbelt Securities Inc. boosted its position in Rayonier by 124,900.0% in the first quarter. Sunbelt Securities Inc. now owns 2,500 shares of the real estate investment trust's stock worth $52,000 after purchasing an additional 2,498 shares during the last quarter. Hedge funds and other institutional investors own 89.12% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on RYN shares. Weiss Ratings upgraded Rayonier from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, August 21st. Truist Financial dropped their target price on shares of Rayonier from $25.00 to $24.00 and set a "hold" rating on the stock in a research note on Wednesday, July 15th. Finally, Citigroup raised their target price on Rayonier from $22.00 to $23.00 and gave the stock a "neutral" rating in a research report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $24.80.

Insider Activity

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

Rayonier Stock Performance

Shares of RYN stock opened at $20.00 on Tuesday. The stock has a market capitalization of $5.95 billion, a P/E ratio of 44.45 and a beta of 0.87. 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 $21.11 and its 200 day moving average is $20.98. Rayonier Inc. has a 12 month low of $19.49 and a 12 month high of $27.06.

Rayonier (NYSE:RYN - Get Free Report) last released its quarterly earnings data 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. Rayonier had a net margin of 7.83% and a return on equity of 3.49%. The business had revenue of $396.51 million during the quarter, compared to analyst estimates of $374.28 million. During the same period in the previous year, the business earned $0.06 EPS. Rayonier's revenue was up 272.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Rayonier Inc. will post 0.44 earnings per share for the current year.

Rayonier Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be given a $0.26 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $1.04 annualized dividend and a dividend yield of 5.2%. Rayonier's payout ratio is 231.11%.

About Rayonier

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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