Whalen Wealth Management Inc. Purchases New Shares in Rayonier Inc. (NYSE:RYN)

Whalen Wealth Management Inc. acquired a new position in shares of Rayonier Inc. (NYSE:RYN - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 15,459 shares of the real estate investment trust's stock, valued at approximately $431,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Shell Asset Management Co. grew its holdings in Rayonier by 4.5% during the 4th quarter. Shell Asset Management Co. now owns 11,652 shares of the real estate investment trust's stock valued at $304,000 after purchasing an additional 497 shares during the last quarter. Covestor Ltd grew its stake in shares of Rayonier by 30.0% during the fourth quarter. Covestor Ltd now owns 2,317 shares of the real estate investment trust's stock valued at $60,000 after buying an additional 535 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of Rayonier by 133.5% in the first quarter. Parallel Advisors LLC now owns 1,123 shares of the real estate investment trust's stock worth $31,000 after buying an additional 642 shares during the period. Harbor Capital Advisors Inc. lifted its stake in shares of Rayonier by 23.4% during the 1st quarter. Harbor Capital Advisors Inc. now owns 3,933 shares of the real estate investment trust's stock worth $110,000 after acquiring an additional 747 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new position in Rayonier during the 4th quarter valued at $25,000. 89.12% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on RYN. Citigroup decreased their target price on Rayonier from $27.00 to $26.00 and set a "neutral" rating for the company in a research report on Tuesday, June 3rd. Royal Bank Of Canada dropped their target price on shares of 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 raised shares of Rayonier from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Truist Financial lowered their price target on Rayonier from $30.00 to $27.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd. Finally, Raymond James Financial upgraded Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 price objective on the stock in a report on Wednesday, March 12th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, Rayonier presently has an average rating of "Hold" and an average price target of $27.75.

Rayonier Price Performance

NYSE RYN opened at $22.54 on Monday. The company has a market cap of $3.51 billion, a PE ratio of 9.67 and a beta of 1.05. Rayonier Inc. has a 52-week low of $22.30 and a 52-week high of $31.29. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.60 and a current ratio of 2.71. The firm's 50 day moving average price is $23.82 and its 200-day moving average price is $25.65.

Rayonier (NYSE:RYN - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported ($0.02) EPS 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 return on equity of 3.29% and a net margin of 30.09%. The company's revenue was down 27.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.01 earnings per share. Sell-side analysts forecast that Rayonier Inc. will post 0.55 EPS for the current fiscal year.

Rayonier Dividend Announcement

The firm also recently declared 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. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date is Monday, June 16th. Rayonier's payout ratio is presently 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.

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