Two Sigma Advisers LP Makes New $1.57 Million Investment in Rayonier Inc. (NYSE:RYN)

Two Sigma Advisers LP acquired a new position in Rayonier Inc. (NYSE:RYN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 60,100 shares of the real estate investment trust's stock, valued at approximately $1,569,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd purchased a new position in shares of Rayonier in the fourth quarter worth $25,000. Steward Partners Investment Advisory LLC raised its position in Rayonier by 264.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,677 shares of the real estate investment trust's stock worth $44,000 after buying an additional 1,217 shares during the last quarter. Covestor Ltd raised its position in Rayonier by 30.0% in the 4th quarter. Covestor Ltd now owns 2,317 shares of the real estate investment trust's stock worth $60,000 after buying an additional 535 shares during the last quarter. KBC Group NV lifted its stake in Rayonier by 61.1% during the 4th quarter. KBC Group NV now owns 6,460 shares of the real estate investment trust's stock valued at $169,000 after acquiring an additional 2,449 shares during the period. Finally, Quarry LP purchased a new stake in shares of Rayonier during the 4th quarter valued at about $173,000. 89.12% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RYN. Wall Street Zen upgraded shares of Rayonier from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Truist Financial lowered their price target on Rayonier from $30.00 to $27.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. Citigroup dropped their price target on Rayonier from $27.00 to $26.00 and set a "neutral" rating on the stock in a research note on Tuesday. Royal Bank of Canada reduced their price objective on Rayonier from $28.00 to $27.00 and set a "sector perform" rating for the company in a research report on Friday, May 2nd. Finally, Raymond James raised Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 target price on the stock in a research report on Wednesday, March 12th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $27.75.

Rayonier Stock Performance

Shares of Rayonier stock traded up $0.16 on Wednesday, hitting $23.48. 939,646 shares of the company's stock were exchanged, compared to its average volume of 868,669. Rayonier Inc. has a 1 year low of $22.80 and a 1 year high of $31.29. The company has a 50-day simple moving average of $24.34 and a 200-day simple moving average of $26.38. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.85 and a current ratio of 1.12. The stock has a market capitalization of $3.66 billion, a PE ratio of 9.95 and a beta of 1.07.

Rayonier (NYSE:RYN - Get Free Report) last announced its 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). The company had revenue of $82.90 million during the quarter, compared to the consensus estimate of $152.99 million. Rayonier had a return on equity of 3.86% and a net margin of 28.44%. Rayonier's revenue for the quarter was down 27.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.01 earnings per share. As a group, equities analysts anticipate that Rayonier Inc. will post 0.55 EPS for the current year.

Rayonier Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $0.2725 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.64%. Rayonier's payout ratio is currently 46.78%.

Rayonier 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.