Voya Investment Management LLC Purchases 521 Shares of Rayonier Inc. $RYN

Voya Investment Management LLC boosted its holdings in shares of Rayonier Inc. (NYSE:RYN) by 2.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,266 shares of the real estate investment trust’s stock after acquiring an additional 521 shares during the period. Voya Investment Management LLC’s holdings in Rayonier were worth $537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Two Sigma Advisers LP acquired a new stake in Rayonier in the fourth quarter worth about $1,569,000. Squarepoint Ops LLC increased its stake in shares of Rayonier by 881.3% in the 4th quarter. Squarepoint Ops LLC now owns 8,258 shares of the real estate investment trust’s stock worth $216,000 after acquiring an additional 9,315 shares during the last quarter. GAMMA Investing LLC increased its position in Rayonier by 4,211.5% during the first quarter. GAMMA Investing LLC now owns 74,718 shares of the real estate investment trust’s stock worth $2,083,000 after purchasing an additional 72,985 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Rayonier by 133.5% during the 1st 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. Finally, Rhumbline Advisers grew its stake in shares of Rayonier by 3.7% in the first quarter. Rhumbline Advisers now owns 437,423 shares of the real estate investment trust’s stock valued at $12,195,000 after buying an additional 15,650 shares in the last quarter. 89.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Citigroup upped their target price on Rayonier from $26.00 to $27.00 and gave the company a “neutral” rating in a research report on Thursday, August 21st. Royal Bank Of Canada boosted their price target on Rayonier from $26.00 to $27.00 and gave the company a “sector perform” rating in a report on Friday, August 8th. Finally, Wall Street Zen raised shares of Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $28.00.

Rayonier Trading Up 2.0%

Rayonier stock opened at $26.46 on Friday. The company has a quick ratio of 3.38, a current ratio of 3.50 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average price of $25.62 and a two-hundred day moving average price of $24.82. The firm has a market capitalization of $4.08 billion, a price-to-earnings ratio of 5.34 and a beta of 1.01. Rayonier Inc. has a 52-week low of $21.84 and a 52-week high of $32.88.

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

Rayonier Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be given a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Tuesday, September 16th. Rayonier’s payout ratio is 22.02%.

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.