Cubist Systematic Strategies LLC Takes $176,000 Position in Rayonier Inc. (NYSE:RYN)

Cubist Systematic Strategies LLC bought a new stake in Rayonier Inc. (NYSE:RYN) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,737 shares of the real estate investment trust’s stock, valued at approximately $176,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd acquired a new position in shares of Rayonier in the 4th quarter worth approximately $25,000. UMB Bank n.a. grew its position in Rayonier by 59.7% in the fourth quarter. UMB Bank n.a. now owns 1,404 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 525 shares during the period. Steward Partners Investment Advisory LLC raised its stake in Rayonier by 264.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,677 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 1,217 shares in the last quarter. Covestor Ltd lifted its holdings 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 acquiring an additional 535 shares during the period. Finally, KBC Group NV boosted its stake in shares of Rayonier by 61.1% in the 4th quarter. KBC Group NV now owns 6,460 shares of the real estate investment trust’s stock valued at $169,000 after purchasing an additional 2,449 shares in the last quarter. 89.12% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RYN. Raymond James raised shares of Rayonier from a “market perform” rating to an “outperform” rating and set a $31.00 target price on the stock in a report on Wednesday, March 12th. Truist Financial decreased their price objective on shares of Rayonier from $30.00 to $27.00 and set a “hold” rating on the stock in a research note on Tuesday, April 22nd. StockNews.com upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research note on Tuesday, May 13th. Finally, Royal Bank of Canada decreased their price target on Rayonier from $28.00 to $27.00 and set a “sector perform” rating on the stock in a research report on Friday, May 2nd. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $27.50.

Rayonier Trading Up 0.7%

Shares of NYSE RYN opened at $24.18 on Monday. Rayonier Inc. has a 1-year low of $22.80 and a 1-year high of $31.29. The company has a 50-day moving average of $25.45 and a two-hundred day moving average of $26.97. The company has a market cap of $3.77 billion, a PE ratio of 10.25 and a beta of 1.07. The company has a current ratio of 1.12, a quick ratio of 1.85 and a debt-to-equity ratio of 0.61.

Rayonier (NYSE:RYN) last issued its quarterly 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). Rayonier had a net margin of 28.44% and a return on equity of 3.86%. The company had revenue of $82.90 million during the quarter, compared to analyst estimates of $152.99 million. During the same period in the prior year, the business earned $0.01 EPS. The business’s revenue for the quarter was down 27.1% on a year-over-year basis. As a group, equities analysts expect that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.

Rayonier Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a $0.2725 dividend. This represents a $1.09 annualized dividend and a yield of 4.51%. Rayonier’s dividend payout ratio is 46.78%.

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.