Versor Investments LP Takes Position in Rayonier Inc. $RYN

Key Points

• Versor Investments LP has acquired a new position in Rayonier Inc., investing approximately $1.83 million for 65,515 shares.
• Rayonier recently reported $0.06 earnings per share, beating the consensus estimate, and announced a quarterly dividend of $0.2725 per share.
• Institutional investors and hedge funds collectively own 89.12% of Rayonier's stock, highlighting significant investor interest in the company.

Versor Investments LP acquired a new stake in Rayonier Inc. (NYSE:RYN - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 65,515 shares of the real estate investment trust's stock, valued at approximately $1,827,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Deutsche Bank AG lifted its position in Rayonier by 730.8% during the fourth quarter. Deutsche Bank AG now owns 1,829,422 shares of the real estate investment trust's stock worth $47,748,000 after acquiring an additional 1,609,232 shares during the last quarter. Nuveen LLC acquired a new stake in Rayonier during the first quarter worth approximately $26,187,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Rayonier during the first quarter worth approximately $23,582,000. Millennium Management LLC lifted its position in Rayonier by 253.3% during the fourth quarter. Millennium Management LLC now owns 1,094,880 shares of the real estate investment trust's stock worth $28,576,000 after acquiring an additional 784,955 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Rayonier by 2.2% during the first quarter. Vanguard Group Inc. now owns 20,862,953 shares of the real estate investment trust's stock worth $581,659,000 after acquiring an additional 456,363 shares during the last quarter. Institutional investors own 89.12% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RYN. Citigroup lifted their price objective on shares of Rayonier from $26.00 to $27.00 and gave the company a "neutral" rating in a research note on Thursday. Wall Street Zen raised shares of Rayonier from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Royal Bank Of Canada boosted their price objective on shares of Rayonier from $26.00 to $27.00 and gave the stock a "sector perform" rating in a research note on Friday, August 8th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $28.00.

Rayonier Stock Up 2.2%

Shares of RYN traded up $0.5850 on Friday, reaching $27.2050. The company's stock had a trading volume of 444,872 shares, compared to its average volume of 1,105,156. The company has a current ratio of 3.50, a quick ratio of 3.38 and a debt-to-equity ratio of 0.37. Rayonier Inc. has a twelve month low of $21.84 and a twelve month high of $32.88. The stock has a market capitalization of $4.19 billion, a PE ratio of 5.49 and a beta of 1.00. The firm has a fifty day moving average of $23.93 and a 200-day moving average of $24.82.

Rayonier (NYSE:RYN - Get Free Report) last posted its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.03 by $0.03. Rayonier had a net margin of 68.53% and a return on equity of 3.39%. The company had revenue of $106.50 million for the quarter, compared to analyst estimates of $95.30 million. During the same quarter in the prior year, the business posted $0.02 EPS. The firm's revenue was up 6.9% compared to the same quarter last year. Equities analysts predict that Rayonier Inc. will post 0.55 EPS for the current year.

Rayonier Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Tuesday, September 16th. Rayonier's dividend payout ratio is presently 22.02%.

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.