KLP Kapitalforvaltning AS Acquires 4,000 Shares of Rayonier Inc. $RYN

KLP Kapitalforvaltning AS boosted its stake in Rayonier Inc. (NYSE:RYN) by 14.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,853 shares of the real estate investment trust’s stock after purchasing an additional 4,000 shares during the period. KLP Kapitalforvaltning AS’s holdings in Rayonier were worth $684,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of RYN. Elequin Capital LP bought a new stake in shares of Rayonier in the 1st quarter valued at about $30,000. GKV Capital Management Co. Inc. acquired a new position in shares of Rayonier in the first quarter worth approximately $32,000. Headlands Technologies LLC lifted its stake in shares of Rayonier by 223.4% in the first quarter. Headlands Technologies LLC now owns 2,076 shares of the real estate investment trust’s stock worth $58,000 after acquiring an additional 1,434 shares during the period. GAMMA Investing LLC lifted its stake in shares of Rayonier by 54.6% in the first quarter. GAMMA Investing LLC now owns 2,680 shares of the real estate investment trust’s stock worth $75,000 after acquiring an additional 947 shares during the period. Finally, Fifth Third Bancorp raised its holdings in Rayonier by 182.4% during the 1st quarter. Fifth Third Bancorp now owns 2,753 shares of the real estate investment trust’s stock worth $77,000 after purchasing an additional 1,778 shares during the last quarter. 89.12% of the stock is currently owned by institutional investors and hedge funds.

Rayonier Price Performance

Shares of NYSE RYN opened at $24.82 on Friday. Rayonier Inc. has a 1-year low of $21.84 and a 1-year high of $32.88. The firm has a market capitalization of $3.83 billion, a P/E ratio of 5.01 and a beta of 0.99. The firm’s 50-day moving average price is $26.20 and its 200-day moving average price is $24.65. 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 earnings results on Wednesday, August 6th. The real estate investment trust reported $0.06 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $95.30 million. During the same period in the previous year, the company posted $0.02 EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. Equities research analysts anticipate that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.

Rayonier Announces Dividend

The firm also recently disclosed a special dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, October 24th will be issued a dividend of $1.40 per share. The ex-dividend date is Friday, October 24th. Rayonier’s dividend payout ratio is presently 22.02%.

Analyst Upgrades and Downgrades

RYN has been the subject of several analyst reports. Wall Street Zen upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Rayonier in a research report on Tuesday. Finally, Citigroup boosted their price objective on Rayonier from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, August 21st. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Rayonier has an average rating of “Hold” and a consensus price target 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.