Wolverine Asset Management LLC Invests $976,000 in Rayonier Inc. (NYSE:RYN)

Key Points

• Wolverine Asset Management LLC invested approximately $976,000 in Rayonier Inc. by acquiring 35,000 shares, indicating significant institutional interest in the company.
• Rayonier recently announced a quarterly dividend of $0.2725 per share, with an expected annualized yield of 4.2% based on its payout ratio of 22.02%.
• Analysts' ratings on Rayonier share are mixed, with most giving it a "hold" rating and a consensus price target of $27.75, reflecting varying confidence in its market performance.

Wolverine Asset Management LLC purchased a new stake in shares of Rayonier Inc. (NYSE:RYN - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 35,000 shares of the real estate investment trust's stock, valued at approximately $976,000.

Several other institutional investors have also added to or reduced their stakes in RYN. American National Bank & Trust purchased a new stake in Rayonier during the 1st quarter valued at $28,000. Parallel Advisors LLC lifted its position in shares of Rayonier by 133.5% in the 1st quarter. Parallel Advisors LLC now owns 1,123 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 642 shares during the period. Byrne Asset Management LLC purchased a new stake in shares of Rayonier in the 1st quarter worth about $38,000. Headlands Technologies LLC lifted its position in shares of Rayonier by 223.4% in the 1st quarter. Headlands Technologies LLC now owns 2,076 shares of the real estate investment trust's stock worth $58,000 after purchasing an additional 1,434 shares during the period. Finally, Covestor Ltd lifted its position in shares of Rayonier by 30.0% in the 4th quarter. Covestor Ltd now owns 2,317 shares of the real estate investment trust's stock worth $60,000 after purchasing an additional 535 shares during the period. Hedge funds and other institutional investors own 89.12% of the company's stock.

Rayonier Stock Down 1.1%

NYSE:RYN traded down $0.29 on Thursday, reaching $26.49. 283,997 shares of the stock traded hands, compared to its average volume of 1,114,216. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of 5.35 and a beta of 1.00. The company has a current ratio of 3.50, a quick ratio of 2.60 and a debt-to-equity ratio of 0.37. Rayonier Inc. has a 12 month low of $21.84 and a 12 month high of $32.88. The company's fifty day simple moving average is $23.60 and its 200 day simple moving average is $24.81.

Rayonier (NYSE:RYN - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.06 EPS 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 firm had revenue of $106.50 million during the quarter, compared to analyst estimates of $95.30 million. During the same period in the previous year, the business posted $0.02 earnings per share. The business's revenue for the quarter was up 6.9% on a year-over-year basis. Equities analysts predict that Rayonier Inc. will post 0.55 EPS for the current fiscal year.

Rayonier Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued a $0.2725 dividend. This represents a $1.09 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Tuesday, September 16th. Rayonier's payout ratio is 22.02%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on RYN shares. Citigroup dropped their target price on shares of 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 increased their price target 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. Truist Financial decreased their price target on shares of Rayonier from $30.00 to $27.00 and set a "hold" rating for the company in a research note on Tuesday, April 22nd. Finally, Wall Street Zen upgraded shares of Rayonier from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $27.75.

About Rayonier

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.