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

Two Sigma Advisers LP purchased a new position in shares of Rayonier Inc. (NYSE:RYN - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 60,100 shares of the real estate investment trust's stock, valued at approximately $1,569,000.

Several other institutional investors also recently modified their holdings of the business. KBC Group NV raised its holdings in Rayonier by 61.1% in the fourth quarter. KBC Group NV now owns 6,460 shares of the real estate investment trust's stock worth $169,000 after purchasing an additional 2,449 shares during the period. Pacer Advisors Inc. lifted its holdings in Rayonier by 2.3% during the fourth quarter. Pacer Advisors Inc. now owns 19,993 shares of the real estate investment trust's stock worth $522,000 after acquiring an additional 442 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Rayonier by 0.6% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 179,080 shares of the real estate investment trust's stock valued at $4,674,000 after acquiring an additional 1,000 shares during the period. Brown Lisle Cummings Inc. increased its holdings in shares of Rayonier by 17.3% in the fourth quarter. Brown Lisle Cummings Inc. now owns 9,824 shares of the real estate investment trust's stock worth $256,000 after acquiring an additional 1,452 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in shares of Rayonier by 3.8% during the 4th quarter. State of Alaska Department of Revenue now owns 89,658 shares of the real estate investment trust's stock valued at $2,339,000 after purchasing an additional 3,304 shares in the last quarter. Institutional investors and hedge funds own 89.12% of the company's stock.

Analyst Upgrades and Downgrades

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

Rayonier Stock Performance

NYSE:RYN traded up $0.19 on Wednesday, hitting $23.51. The company's stock had a trading volume of 101,797 shares, compared to its average volume of 864,595. The company has a current ratio of 1.12, a quick ratio of 1.85 and a debt-to-equity ratio of 0.61. Rayonier Inc. has a one year low of $22.80 and a one year high of $31.29. The stock has a fifty day moving average of $24.43 and a two-hundred day moving average of $26.40. The firm has a market capitalization of $3.66 billion, a P/E ratio of 9.96 and a beta of 1.07.

Rayonier (NYSE:RYN - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported ($0.02) earnings per share for the quarter, missing the consensus estimate 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 net margin of 28.44% and a return on equity of 3.86%. The firm's revenue was down 27.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.01 earnings per share. Research analysts predict that Rayonier Inc. will post 0.55 earnings per share for the current year.

Rayonier Dividend Announcement

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