Rayonier Inc. $RYN Stock Position Lifted by IFP Advisors Inc

IFP Advisors Inc boosted its stake in shares of Rayonier Inc. (NYSE:RYN) by 8,272.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,093 shares of the real estate investment trust’s stock after purchasing an additional 2,068 shares during the period. IFP Advisors Inc’s holdings in Rayonier were worth $46,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RYN. GAMMA Investing LLC grew its position in Rayonier by 54.6% during 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 Rayonier in the first quarter worth approximately $1,017,000. Retirement Systems of Alabama grew its position in Rayonier by 4.9% in the first quarter. Retirement Systems of Alabama now owns 171,034 shares of the real estate investment trust’s stock worth $4,768,000 after acquiring an additional 7,978 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in Rayonier by 22.4% in the first quarter. Oppenheimer Asset Management Inc. now owns 11,008 shares of the real estate investment trust’s stock worth $307,000 after acquiring an additional 2,013 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its position in Rayonier by 4.7% in the first quarter. Sequoia Financial Advisors LLC now owns 82,302 shares of the real estate investment trust’s stock worth $2,295,000 after acquiring an additional 3,664 shares in the last quarter. 89.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RYN has been the subject of several recent research reports. Citigroup boosted their target price 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. Royal Bank Of Canada boosted their target price 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 reissued a “hold (c)” rating on shares of Rayonier in a research report on Tuesday, October 14th. 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 four have issued a Hold rating to the stock. According to MarketBeat.com, Rayonier presently has an average rating of “Hold” and an average target price of $28.00.

Rayonier Price Performance

NYSE RYN opened at $24.71 on Wednesday. The company has a current ratio of 3.50, a quick ratio of 3.38 and a debt-to-equity ratio of 0.37. The company has a fifty day simple moving average of $26.12 and a 200 day simple moving average of $24.59. The company has a market cap of $3.81 billion, a P/E ratio of 4.99 and a beta of 0.99. Rayonier Inc. has a 1 year low of $21.84 and a 1 year high of $32.88.

Rayonier (NYSE:RYN) last posted 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 net margin of 68.53% and a return on equity of 3.39%. Rayonier’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.02 EPS. On average, sell-side analysts predict that Rayonier Inc. will post 0.55 EPS for the current year.

Rayonier Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th will be paid a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a yield of 4.4%. The ex-dividend date is Wednesday, December 10th. Rayonier’s dividend payout ratio 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.