Yousif Capital Management LLC Buys 1,031 Shares of Rayonier Inc. (NYSE:RYN)

Yousif Capital Management LLC raised its stake in Rayonier Inc. (NYSE:RYN) by 2.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 48,457 shares of the real estate investment trust’s stock after purchasing an additional 1,031 shares during the quarter. Yousif Capital Management LLC’s holdings in Rayonier were worth $1,351,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Oppenheimer & Co. Inc. bought a new position in Rayonier in the fourth quarter worth $327,000. HighTower Advisors LLC increased its position in Rayonier by 3.4% during the 4th quarter. HighTower Advisors LLC now owns 66,571 shares of the real estate investment trust’s stock valued at $1,738,000 after buying an additional 2,168 shares in the last quarter. Marshall Wace LLP bought a new stake in Rayonier during the 4th quarter valued at about $376,000. Charles Schwab Investment Management Inc. increased its position in shares of Rayonier by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,488,802 shares of the real estate investment trust’s stock valued at $64,958,000 after acquiring an additional 46,956 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Rayonier by 9.4% in the 4th quarter. Invesco Ltd. now owns 370,474 shares of the real estate investment trust’s stock worth $9,669,000 after purchasing an additional 31,916 shares in the last quarter. Institutional investors own 89.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on RYN shares. Citigroup reduced their target price on Rayonier from $27.00 to $26.00 and set a “neutral” rating for the company in a report on Tuesday, June 3rd. Raymond James Financial upgraded 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. Wall Street Zen upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research note on Tuesday, May 13th. Royal Bank Of Canada reduced their price target on shares of Rayonier from $28.00 to $27.00 and set a “sector perform” rating for the company in a research note on Friday, May 2nd. Finally, Truist Financial cut their target price 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $27.75.

Rayonier Trading Down 1.9%

Rayonier stock opened at $22.50 on Wednesday. The business has a 50-day simple moving average of $23.93 and a two-hundred day simple moving average of $25.87. The company has a market cap of $3.50 billion, a P/E ratio of 9.65 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 quick ratio of 2.60, a current ratio of 2.71 and a debt-to-equity ratio of 0.54.

Rayonier (NYSE:RYN) last announced its earnings results on Wednesday, April 30th. The real estate investment trust reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. The business’s quarterly revenue was down 27.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.01 earnings per share. Analysts predict that Rayonier Inc. will post 0.55 EPS for the current year.

Rayonier Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 4.85%. The ex-dividend date of this dividend is Monday, June 16th. Rayonier’s dividend payout ratio is presently 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.