Mutual of America Capital Management LLC Acquires 1,487 Shares of Rayonier Inc. (NYSE:RYN)

Mutual of America Capital Management LLC raised its holdings in shares of Rayonier Inc. (NYSE:RYN) by 2.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 72,324 shares of the real estate investment trust’s stock after purchasing an additional 1,487 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Rayonier were worth $2,016,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. Harvest Fund Management Co. Ltd purchased a new position in Rayonier in the 4th quarter worth about $25,000. American National Bank & Trust purchased a new position in Rayonier in the 1st quarter worth about $28,000. Parallel Advisors LLC increased its position in Rayonier by 133.5% during the 1st quarter. Parallel Advisors LLC now owns 1,123 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 642 shares during the period. Byrne Asset Management LLC purchased a new position in Rayonier during the 1st quarter valued at about $38,000. Finally, Covestor Ltd increased its position in Rayonier by 30.0% during the 4th quarter. Covestor Ltd now owns 2,317 shares of the real estate investment trust’s stock valued at $60,000 after purchasing an additional 535 shares during the period. Institutional investors own 89.12% of the company’s stock.

Rayonier Stock Up 0.1%

RYN stock opened at $23.57 on Friday. The firm has a market capitalization of $3.67 billion, a price-to-earnings ratio of 10.12 and a beta of 1.02. Rayonier Inc. has a fifty-two week low of $21.84 and a fifty-two week high of $31.29. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.60 and a current ratio of 2.71. The company’s 50 day moving average price is $23.31 and its 200 day moving average price is $25.01.

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 the consensus estimate of $0.08 by ($0.10). Rayonier had a return on equity of 3.29% and a net margin of 30.09%. The company 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 business earned $0.01 earnings per share. Rayonier’s revenue for the quarter was down 27.1% compared to the same quarter last year. On average, equities research analysts anticipate that Rayonier Inc. will post 0.55 EPS for the current fiscal year.

Rayonier Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were given a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a yield of 4.62%. The ex-dividend date was Monday, June 16th. Rayonier’s dividend payout ratio (DPR) is presently 46.78%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on RYN shares. Wall Street Zen upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a report 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 target price on shares of Rayonier from $27.00 to $26.00 and set a “neutral” rating for the company in a research note on Tuesday, June 3rd. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price 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.