Oppenheimer Asset Management Inc. Raises Holdings in Rayonier Inc. $RYN

Oppenheimer Asset Management Inc. increased its position in shares of Rayonier Inc. (NYSE:RYN) by 30.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,390 shares of the real estate investment trust’s stock after purchasing an additional 3,382 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Rayonier were worth $319,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Elequin Capital LP purchased a new stake in Rayonier in the 1st quarter valued at $30,000. GKV Capital Management Co. Inc. purchased a new stake in Rayonier in the 1st quarter valued at $32,000. IFP Advisors Inc grew its holdings in Rayonier by 8,272.0% in the 2nd quarter. IFP Advisors Inc now owns 2,093 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 2,068 shares in the last quarter. Headlands Technologies LLC grew its holdings in Rayonier by 223.4% in the 1st quarter. Headlands Technologies LLC now owns 2,076 shares of the real estate investment trust’s stock valued at $58,000 after buying an additional 1,434 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Rayonier by 54.6% in the 1st quarter. GAMMA Investing LLC now owns 2,680 shares of the real estate investment trust’s stock valued at $75,000 after buying an additional 947 shares in the last quarter. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

Rayonier Stock Performance

NYSE RYN opened at $22.07 on Monday. The stock has a market cap of $3.40 billion, a PE ratio of 4.46 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 twelve month low of $21.84 and a twelve month high of $32.88. The stock has a fifty day simple moving average of $25.58 and a 200-day simple moving average of $24.52.

Rayonier (NYSE:RYN) last released its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. The business had revenue of $106.50 million during the quarter, compared to analysts’ expectations of $95.30 million. Rayonier had a return on equity of 3.39% and a net margin of 68.53%.The company’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.02 EPS. Equities analysts anticipate that Rayonier Inc. will post 0.55 earnings per share for the current year.

Rayonier Announces Dividend

The company 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. The ex-dividend date of this dividend is Wednesday, December 10th. This represents a $1.09 annualized dividend and a yield of 4.9%. Rayonier’s dividend payout ratio is presently 22.02%.

Analyst Upgrades and Downgrades

Several analysts have 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 report on Thursday, August 21st. Wall Street Zen upgraded Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Weiss Ratings restated a “hold (c)” rating on shares of Rayonier in a report on Tuesday, October 14th. Finally, Royal Bank Of Canada increased their price target on Rayonier from $26.00 to $27.00 and gave the stock a “sector perform” rating in a report on Friday, August 8th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Rayonier has a consensus rating of “Hold” and a consensus target price of $28.00.

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.