Troluce Capital Advisors LLC Purchases Shares of 435,000 Rayonier Inc. $RYN

Key Points

• Troluce Capital Advisors bought 435,000 Rayonier shares worth approximately $8.97 million in the first quarter, taking a 0.14% stake. Institutional investors collectively own 89.12% of the REIT.
• Rayonier reported quarterly EPS of $0.07, beating estimates of $0.06, while revenue reached $276.79 million and rose 233.9% year over year. Analysts expect full-year EPS of $0.36.
• The company declared a quarterly dividend of $0.26, equivalent to $1.04 annually and a 4.8% yield. Analyst sentiment remains mixed, with an average rating of “Hold” and an average price target of $24.60 versus the stock’s $21.59 opening price.

Troluce Capital Advisors LLC purchased a new position in shares of Rayonier Inc. (NYSE:RYN - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm purchased 435,000 shares of the real estate investment trust's stock, valued at approximately $8,970,000. Troluce Capital Advisors LLC owned 0.14% of Rayonier at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in RYN. Eurizon Capital SGR S.p.A. bought a new stake in shares of Rayonier during the 4th quarter valued at about $34,000. Northwestern Mutual Wealth Management Co. grew 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 purchasing an additional 627 shares during the period. Hartford Financial Management Inc. increased its holdings in Rayonier by 49.7% in the fourth quarter. Hartford Financial Management Inc. now owns 1,732 shares of the real estate investment trust's stock worth $37,000 after purchasing an additional 575 shares in the last quarter. Bayban acquired a new position in Rayonier in the first quarter valued at approximately $36,000. Finally, Whittier Trust Co. lifted its stake in Rayonier by 74.0% in the first quarter. Whittier Trust Co. now owns 2,279 shares of the real estate investment trust's stock valued at $47,000 after buying an additional 969 shares during the period. 89.12% of the stock is owned by institutional investors.

Rayonier Trading Up 0.0%

NYSE RYN opened at $21.59 on Monday. The company has a quick ratio of 2.21, a current ratio of 2.53 and a debt-to-equity ratio of 0.35. Rayonier Inc. has a 52 week low of $19.49 and a 52 week high of $27.33. The business has a 50 day moving average price of $21.14 and a 200-day moving average price of $21.52. The company has a market cap of $6.49 billion, a price-to-earnings ratio of 7.15 and a beta of 0.88.

Rayonier (NYSE:RYN - Get Free Report) last issued its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.01. The company had revenue of $276.79 million for the quarter, compared to analysts' expectations of $280.92 million. Rayonier had a return on equity of 3.61% and a net margin of 68.61%.Rayonier's quarterly revenue was up 233.9% compared to the same quarter last year. During the same period last year, the business earned ($0.02) EPS. As a group, equities analysts expect that Rayonier Inc. will post 0.36 earnings per share for the current fiscal year.

Rayonier Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend is Wednesday, September 16th. Rayonier's dividend payout ratio (DPR) is 34.44%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Truist Financial reduced their price objective on shares of Rayonier from $25.00 to $24.00 and set a "hold" rating for the company in a research report on Wednesday, July 15th. Weiss Ratings downgraded shares of Rayonier from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, May 12th. Royal Bank Of Canada set a $24.00 target price on shares of Rayonier in a research note on Thursday, April 16th. BMO Capital Markets reduced their price target on shares of Rayonier from $26.00 to $25.00 and set a "market perform" rating for the company in a report on Tuesday, May 19th. Finally, Citigroup decreased their price target on shares of Rayonier from $24.00 to $22.00 and set a "neutral" rating for the company in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $24.60.

About Rayonier

Rayonier, Inc NYSE: RYN is a publicly traded real estate investment trust specializing in timberland ownership and management. The company's core business revolves around sustainably growing, harvesting, and marketing timber and timber-related products. Rayonier's timberland portfolio encompasses approximately 2.7 million acres across the United States and New Zealand, focusing on softwood and hardwood fiber for use in paper, packaging and building materials.

Rayonier operates through two primary segments: Timber and Real Estate Solutions.

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