Harbor Capital Advisors Inc. Purchases 747 Shares of Rayonier Inc. (NYSE:RYN)

Harbor Capital Advisors Inc. grew its position in Rayonier Inc. (NYSE:RYN) by 23.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,933 shares of the real estate investment trust’s stock after acquiring an additional 747 shares during the period. Harbor Capital Advisors Inc.’s holdings in Rayonier were worth $110,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Harvest Fund Management Co. Ltd bought a new position in shares of Rayonier in the fourth quarter valued at approximately $25,000. American National Bank & Trust bought a new position in shares of Rayonier in the first quarter valued at approximately $28,000. Parallel Advisors LLC raised its stake 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 valued at $31,000 after acquiring an additional 642 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of Rayonier by 264.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,677 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 1,217 shares during the last quarter. Finally, Covestor Ltd raised its stake in shares of Rayonier by 30.0% in 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 last quarter. Institutional investors own 89.12% of the company’s stock.

Rayonier Price Performance

RYN opened at $23.41 on Monday. The company has a fifty day moving average price of $23.99 and a two-hundred day moving average price of $25.96. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.85 and a current ratio of 1.12. Rayonier Inc. has a 52 week low of $22.80 and a 52 week high of $31.29. The firm has a market capitalization of $3.65 billion, a PE ratio of 9.92 and a beta of 1.05.

Rayonier (NYSE:RYN) last released its earnings results on Wednesday, April 30th. The real estate investment trust reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.10). Rayonier had a return on equity of 3.86% and a net margin of 28.44%. The business had revenue of $82.90 million for the quarter, compared to analyst estimates of $152.99 million. During the same period in the prior year, the firm posted $0.01 EPS. Rayonier’s revenue was down 27.1% on a year-over-year basis. As a group, analysts anticipate that Rayonier Inc. will post 0.55 earnings per share for the current year.

Rayonier Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date is Monday, June 16th. Rayonier’s dividend payout ratio is presently 46.78%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on RYN shares. Wall Street Zen upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research note on Tuesday, May 13th. Citigroup dropped their price objective 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 dropped their price objective on shares of Rayonier from $28.00 to $27.00 and set a “sector perform” rating for the company in a research report on Friday, May 2nd. Raymond James 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 research report on Wednesday, March 12th. Finally, Truist Financial dropped 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. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock 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.