Two Sigma Investments LP Makes New Investment in Rayonier Inc. (NYSE:RYN)

Two Sigma Investments LP bought a new stake in Rayonier Inc. (NYSE:RYN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 143,994 shares of the real estate investment trust's stock, valued at approximately $3,758,000. Two Sigma Investments LP owned about 0.10% of Rayonier as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in RYN. Harvest Fund Management Co. Ltd bought a new position in Rayonier in the fourth quarter valued at $25,000. Steward Partners Investment Advisory LLC increased its stake in 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 acquiring an additional 1,217 shares during the last quarter. Covestor Ltd increased its stake in Rayonier by 30.0% in the fourth quarter. Covestor Ltd now owns 2,317 shares of the real estate investment trust's stock valued at $60,000 after acquiring an additional 535 shares during the last quarter. KBC Group NV increased its stake 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 valued at $169,000 after acquiring an additional 2,449 shares during the last quarter. Finally, Quarry LP bought a new position in Rayonier in the fourth quarter valued at $173,000. Institutional investors own 89.12% of the company's stock.

Rayonier Trading Down 1.7%

NYSE RYN traded down $0.41 during trading on Monday, hitting $23.29. 788,506 shares of the company's stock traded hands, compared to its average volume of 865,821. The stock has a fifty day moving average of $24.52 and a two-hundred day moving average of $26.42. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.12 and a quick ratio of 1.85. Rayonier Inc. has a 12-month low of $22.80 and a 12-month high of $31.29. The firm has a market cap of $3.63 billion, a P/E ratio of 9.87 and a beta of 1.07.

Rayonier (NYSE:RYN - Get Free Report) last posted its earnings results on Wednesday, April 30th. The real estate investment trust reported ($0.02) earnings per share for the quarter, missing analysts' consensus estimates of $0.08 by ($0.10). The firm had revenue of $82.90 million for the quarter, compared to analysts' expectations of $152.99 million. Rayonier had a return on equity of 3.86% and a net margin of 28.44%. The business's revenue for the quarter was down 27.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.01 earnings per share. As a group, sell-side analysts expect that Rayonier Inc. will post 0.55 EPS for the current year.

Rayonier Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.2725 per share. The ex-dividend date is Monday, June 16th. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.68%. Rayonier's dividend payout ratio is currently 46.78%.

Wall Street Analyst Weigh In

A number of research firms recently commented on RYN. Royal Bank of Canada reduced their target price 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. Raymond James upgraded shares of Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 price target for the company in a research report on Wednesday, March 12th. Wall Street Zen upgraded shares of Rayonier from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, Truist Financial cut their price target on shares of Rayonier from $30.00 to $27.00 and set a "hold" rating for the company in a research report on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $27.50.

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.