Wealth Enhancement Advisory Services LLC Boosts Holdings in Rayonier Inc. $RYN

Wealth Enhancement Advisory Services LLC grew its position in Rayonier Inc. (NYSE:RYN) by 10.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,364 shares of the real estate investment trust’s stock after buying an additional 3,897 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Rayonier were worth $932,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Securian Asset Management Inc. grew its stake in shares of Rayonier by 4.6% in the 1st quarter. Securian Asset Management Inc. now owns 10,603 shares of the real estate investment trust’s stock valued at $296,000 after buying an additional 466 shares during the period. Hollencrest Capital Management grew its stake in shares of Rayonier by 5.1% in the 1st quarter. Hollencrest Capital Management now owns 10,509 shares of the real estate investment trust’s stock valued at $293,000 after buying an additional 509 shares during the period. Voya Investment Management LLC grew its stake in shares of Rayonier by 2.8% in the 1st quarter. Voya Investment Management LLC now owns 19,266 shares of the real estate investment trust’s stock valued at $537,000 after buying an additional 521 shares during the period. Hamilton Point Investment Advisors LLC grew its stake in shares of Rayonier by 4.5% in the 1st quarter. Hamilton Point Investment Advisors LLC now owns 13,183 shares of the real estate investment trust’s stock valued at $368,000 after buying an additional 563 shares during the period. Finally, Timber Creek Capital Management LLC grew its stake in shares of Rayonier by 4.5% in the 1st quarter. Timber Creek Capital Management LLC now owns 13,957 shares of the real estate investment trust’s stock valued at $389,000 after buying an additional 596 shares during the period. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Wall Street Analysts Forecast Growth

RYN has been the subject of a number of research analyst reports. Royal Bank Of Canada increased their price objective on shares of Rayonier from $26.00 to $27.00 and gave the stock a “sector perform” rating in a research report on Friday, August 8th. Citigroup increased their price objective on shares of Rayonier from $26.00 to $27.00 and gave the stock a “neutral” rating in a research report on Thursday, August 21st. 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 investment 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, the company presently has a consensus rating of “Hold” and a consensus price target of $28.00.

Rayonier Stock Up 0.0%

Shares of NYSE RYN opened at $26.92 on Friday. The stock has a market cap of $4.15 billion, a P/E ratio of 5.44 and a beta of 0.99. 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 Inc. has a 12-month low of $21.84 and a 12-month high of $32.88. The business’s fifty day simple moving average is $25.83 and its 200-day simple moving average is $24.80.

Rayonier (NYSE:RYN) last announced its quarterly earnings data 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 business had revenue of $106.50 million for the quarter, compared to analysts’ expectations of $95.30 million. During the same period last year, the firm earned $0.02 earnings per share. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, equities analysts predict that Rayonier Inc. will post 0.55 EPS for the current fiscal year.

Rayonier Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were issued a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Tuesday, September 16th. Rayonier’s dividend payout ratio (DPR) is presently 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.