Rayonier Inc. (NYSE:RYN) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its holdings in shares of Rayonier Inc. (NYSE:RYN) by 5.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,133,966 shares of the real estate investment trust’s stock after buying an additional 55,381 shares during the period. Bank of New York Mellon Corp owned about 0.73% of Rayonier worth $31,615,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RYN. Shell Asset Management Co. lifted its position in shares of Rayonier by 4.5% during the fourth quarter. Shell Asset Management Co. now owns 11,652 shares of the real estate investment trust’s stock worth $304,000 after purchasing an additional 497 shares in the last quarter. Covestor Ltd increased 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 worth $60,000 after buying an additional 535 shares during the last quarter. Timber Creek Capital Management LLC increased its stake in shares of Rayonier by 4.5% in the first quarter. Timber Creek Capital Management LLC now owns 13,957 shares of the real estate investment trust’s stock worth $389,000 after buying an additional 596 shares during the last quarter. Parallel Advisors LLC increased 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 worth $31,000 after buying an additional 642 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its stake in shares of Rayonier by 23.4% in the first quarter. Harbor Capital Advisors Inc. now owns 3,933 shares of the real estate investment trust’s stock worth $110,000 after buying an additional 747 shares during the last quarter. 89.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in 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. Royal Bank Of Canada lowered their target price 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. Truist Financial lowered their target price 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, Citigroup lowered their price target 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. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $27.75.

Rayonier Price Performance

RYN stock opened at $23.24 on Wednesday. The company has a current ratio of 2.71, a quick ratio of 2.60 and a debt-to-equity ratio of 0.54. Rayonier Inc. has a one year low of $21.84 and a one year high of $31.29. The firm has a market capitalization of $3.62 billion, a PE ratio of 9.97 and a beta of 1.02. The firm has a 50-day moving average of $23.30 and a two-hundred day moving average of $25.06.

Rayonier (NYSE:RYN) last issued its 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). The business had revenue of $82.90 million during the quarter, compared to analyst estimates of $152.99 million. Rayonier had a net margin of 30.09% and a return on equity of 3.29%. Rayonier’s revenue for the quarter was down 27.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.01 EPS. On average, analysts forecast that Rayonier Inc. will post 0.55 earnings per share for the current year.

Rayonier Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were issued a $0.2725 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $1.09 dividend on an annualized basis and a yield of 4.69%. Rayonier’s dividend payout ratio is currently 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.