Rayonier Inc. $RYN Stake Boosted by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC increased its position in shares of Rayonier Inc. (NYSE:RYN) by 18.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,128 shares of the real estate investment trust’s stock after purchasing an additional 3,265 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Rayonier were worth $469,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. American National Bank & Trust bought a new position in Rayonier during the first quarter worth $28,000. Elequin Capital LP bought a new position in Rayonier during the first quarter worth $30,000. Parallel Advisors LLC lifted its stake in Rayonier by 133.5% during the first quarter. Parallel Advisors LLC now owns 1,123 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 642 shares during the last quarter. GKV Capital Management Co. Inc. bought a new position in Rayonier during the first quarter worth $32,000. Finally, Byrne Asset Management LLC bought a new position in Rayonier during the first quarter worth $38,000. 89.12% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on RYN shares. Royal Bank Of Canada increased their target price on Rayonier from $26.00 to $27.00 and gave the stock a “sector perform” rating in a research report on Friday, August 8th. Wall Street Zen raised Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Citigroup increased their target price on Rayonier from $26.00 to $27.00 and gave the stock a “neutral” rating in a research report on Thursday, August 21st. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $28.00.

Rayonier Trading Down 1.1%

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

Rayonier (NYSE:RYN) last announced 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. The business had revenue of $106.50 million during the quarter, compared to analyst estimates of $95.30 million. Rayonier had a return on equity of 3.39% and a net margin of 68.53%.The firm’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.02 EPS. As a group, equities research analysts forecast that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.

Rayonier Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued a dividend of $0.2725 per share. The ex-dividend date is Tuesday, September 16th. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.2%. Rayonier’s payout ratio is 22.02%.

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.