Rayonier Inc. $RYN Shares Bought by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. raised its holdings in Rayonier Inc. (NYSE:RYN) by 22.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,802 shares of the real estate investment trust’s stock after buying an additional 869 shares during the period. Harbor Capital Advisors Inc.’s holdings in Rayonier were worth $107,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. grew its position in Rayonier by 5.0% in the 1st quarter. Principal Financial Group Inc. now owns 323,985 shares of the real estate investment trust’s stock worth $9,033,000 after purchasing an additional 15,382 shares during the last quarter. GAMMA Investing LLC increased its stake in Rayonier by 54.6% in the first quarter. GAMMA Investing LLC now owns 2,680 shares of the real estate investment trust’s stock valued at $75,000 after purchasing an additional 947 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Rayonier in the first quarter worth $1,017,000. New York State Teachers Retirement System increased its position in Rayonier by 5.4% during the first quarter. New York State Teachers Retirement System now owns 166,119 shares of the real estate investment trust’s stock worth $4,631,000 after acquiring an additional 8,565 shares during the period. Finally, Mutual of America Capital Management LLC boosted its position in Rayonier by 2.1% during the 1st quarter. Mutual of America Capital Management LLC now owns 72,324 shares of the real estate investment trust’s stock worth $2,016,000 after buying an additional 1,487 shares during the period. 89.12% of the stock is currently owned by institutional investors and hedge funds.

Rayonier Price Performance

RYN stock opened at $25.74 on Friday. The company has a market cap of $3.97 billion, a PE ratio of 5.20 and a beta of 1.01. The stock has a 50-day moving average price of $25.36 and a two-hundred day moving average price of $24.84. Rayonier Inc. has a 12-month low of $21.84 and a 12-month high of $32.88. The company has a current ratio of 3.50, a quick ratio of 3.38 and a debt-to-equity ratio of 0.37.

Rayonier (NYSE:RYN) last issued its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.03. Rayonier had a return on equity of 3.39% and a net margin of 68.53%.The company had revenue of $106.50 million for the quarter, compared to the consensus estimate of $95.30 million. During the same period last year, the business posted $0.02 earnings per share. The firm’s revenue was up 6.9% compared to the same quarter last year. As a group, research analysts predict that Rayonier Inc. will post 0.55 EPS for the current year.

Rayonier Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued a $0.2725 dividend. This represents a $1.09 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Tuesday, September 16th. Rayonier’s dividend payout ratio is currently 22.02%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RYN. Wall Street Zen upgraded Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Citigroup upped their price objective on Rayonier from $26.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, August 21st. Finally, Royal Bank Of Canada raised their target price on Rayonier from $26.00 to $27.00 and gave the company a “sector perform” rating in a research report on Friday, August 8th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $28.00.

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.