15,459 Shares in Rayonier Inc. (NYSE:RYN) Bought by Whalen Wealth Management Inc.

Whalen Wealth Management Inc. purchased a new stake in shares of Rayonier Inc. (NYSE:RYN - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 15,459 shares of the real estate investment trust's stock, valued at approximately $431,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of RYN. Comprehensive Money Management Services LLC raised its position in Rayonier by 27.7% in the 1st quarter. Comprehensive Money Management Services LLC now owns 32,795 shares of the real estate investment trust's stock worth $914,000 after purchasing an additional 7,106 shares during the period. Retirement Systems of Alabama raised its holdings in shares of Rayonier by 4.9% in the first quarter. Retirement Systems of Alabama now owns 171,034 shares of the real estate investment trust's stock worth $4,768,000 after buying an additional 7,978 shares during the period. Adams Asset Advisors LLC purchased a new stake in shares of Rayonier in the first quarter worth approximately $209,000. State of Alaska Department of Revenue lifted its stake in shares of Rayonier by 2.3% during the 1st quarter. State of Alaska Department of Revenue now owns 91,763 shares of the real estate investment trust's stock worth $2,557,000 after acquiring an additional 2,105 shares during the last quarter. Finally, Bfsg LLC boosted its holdings in Rayonier by 6.5% during the 1st quarter. Bfsg LLC now owns 71,486 shares of the real estate investment trust's stock valued at $1,993,000 after acquiring an additional 4,364 shares during the period. Hedge funds and other institutional investors own 89.12% of the company's stock.

Rayonier Stock Up 1.6%

NYSE RYN traded up $0.36 during trading on Thursday, reaching $22.69. 1,039,334 shares of the company's stock traded hands, compared to its average volume of 894,945. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.71 and a quick ratio of 2.60. The firm has a market cap of $3.53 billion, a price-to-earnings ratio of 9.74 and a beta of 1.05. The company's 50 day simple moving average is $23.63 and its two-hundred day simple moving average is $25.48. Rayonier Inc. has a 12-month low of $22.30 and a 12-month high of $31.29.

Rayonier (NYSE:RYN - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.08 by ($0.10). The business had revenue of $82.90 million for the quarter, compared to the consensus estimate of $152.99 million. Rayonier had a net margin of 30.09% and a return on equity of 3.29%. Rayonier's revenue for the quarter was down 27.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.01 earnings per share. As a group, sell-side analysts forecast that Rayonier Inc. will post 0.55 EPS for the current fiscal year.

Rayonier Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a $0.2725 dividend. The ex-dividend date is Monday, June 16th. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.80%. Rayonier's dividend payout ratio is presently 46.78%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on RYN shares. 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 Financial upgraded shares of Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 price objective for the company in a report on Wednesday, March 12th. Truist Financial lowered their price objective 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. Wall Street Zen upgraded Rayonier from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Finally, Citigroup dropped their price objective on Rayonier from $27.00 to $26.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 3rd. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, Rayonier currently has an average rating of "Hold" and a consensus price target of $27.75.

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.