Rayonier Inc. $RYN Shares Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lifted its stake in shares of Rayonier Inc. (NYSE:RYN) by 8.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 80,696 shares of the real estate investment trust’s stock after purchasing an additional 6,548 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.05% of Rayonier worth $1,790,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Rayonier by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 20,862,953 shares of the real estate investment trust’s stock worth $581,659,000 after purchasing an additional 456,363 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Rayonier by 30.0% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,203,552 shares of the real estate investment trust’s stock worth $117,195,000 after purchasing an additional 971,167 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Rayonier by 4.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,607,211 shares of the real estate investment trust’s stock worth $72,689,000 after purchasing an additional 118,409 shares during the period. Victory Capital Management Inc. grew its stake in shares of Rayonier by 13.8% during the 1st quarter. Victory Capital Management Inc. now owns 2,515,298 shares of the real estate investment trust’s stock worth $70,127,000 after purchasing an additional 304,803 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Rayonier by 2.5% during the 1st quarter. Northern Trust Corp now owns 1,582,227 shares of the real estate investment trust’s stock worth $44,112,000 after purchasing an additional 38,704 shares during the period. 89.12% of the stock is owned by institutional investors and hedge funds.

Rayonier Stock Performance

NYSE:RYN opened at $22.07 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. The firm has a market cap of $3.40 billion, a PE ratio of 4.46 and a beta of 0.99. The firm has a 50 day simple moving average of $25.58 and a 200-day simple moving average of $24.53. Rayonier Inc. has a 1-year low of $21.84 and a 1-year high of $32.88.

Rayonier (NYSE:RYN) last released its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.06 EPS for the quarter, topping the consensus estimate of $0.03 by $0.03. The firm had revenue of $106.50 million during the quarter, compared to analysts’ expectations of $95.30 million. Rayonier had a net margin of 68.53% and a return on equity of 3.39%. Rayonier’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.02 EPS. On average, equities analysts expect 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 given a $0.2725 dividend. The ex-dividend date of this dividend is Wednesday, December 10th. This represents a $1.09 annualized dividend and a dividend yield of 4.9%. Rayonier’s dividend payout ratio (DPR) is currently 22.02%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Royal Bank Of Canada upped their price target on shares of Rayonier from $26.00 to $27.00 and gave the stock a “sector perform” rating in a research note on Friday, August 8th. Wall Street Zen raised shares of Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Citigroup boosted 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, Weiss Ratings reissued a “hold (c)” rating on shares of Rayonier in a research note on Tuesday, October 14th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price 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.