Wolverine Asset Management LLC Takes Position in Rayonier Inc. (NYSE:RYN)

Wolverine Asset Management LLC acquired a new stake in shares of Rayonier Inc. (NYSE:RYN) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 22,500 shares of the real estate investment trust’s stock, valued at approximately $752,000.

Several other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. raised its holdings in Rayonier by 2.7% in the third quarter. Victory Capital Management Inc. now owns 3,965,573 shares of the real estate investment trust’s stock valued at $112,860,000 after acquiring an additional 105,884 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC raised its stake in Rayonier by 66.2% in the 3rd quarter. J.P. Morgan Private Wealth Advisors LLC now owns 228,879 shares of the real estate investment trust’s stock valued at $6,514,000 after purchasing an additional 91,141 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in Rayonier by 85.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 130,000 shares of the real estate investment trust’s stock valued at $3,700,000 after buying an additional 60,000 shares during the period. Acas LLC purchased a new stake in shares of Rayonier during the 3rd quarter worth about $1,294,000. Finally, Louisiana State Employees Retirement System purchased a new position in Rayonier in the 4th quarter worth approximately $1,280,000. 89.12% of the stock is owned by hedge funds and other institutional investors.

Rayonier Stock Down 0.5 %

RYN stock opened at $30.12 on Friday. The company has a market cap of $4.48 billion, a P/E ratio of 25.74 and a beta of 1.07. Rayonier Inc. has a fifty-two week low of $24.84 and a fifty-two week high of $35.29. The stock’s 50 day simple moving average is $32.80 and its 200 day simple moving average is $31.37. The company has a debt-to-equity ratio of 0.73, a quick ratio of 2.04 and a current ratio of 2.26.

Rayonier (NYSE:RYN) last issued its quarterly earnings data on Wednesday, January 31st. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.17. The company had revenue of $467.40 million for the quarter, compared to the consensus estimate of $235.94 million. Rayonier had a return on equity of 2.89% and a net margin of 16.41%. During the same quarter last year, the business posted $0.11 earnings per share. On average, research analysts expect that Rayonier Inc. will post 0.48 earnings per share for the current fiscal year.

Rayonier Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 3.78%. The ex-dividend date was Wednesday, March 13th. Rayonier’s dividend payout ratio (DPR) is presently 97.44%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Truist Financial increased their price target on Rayonier from $33.00 to $34.00 and gave the stock a “hold” rating in a research note on Thursday, January 4th. Royal Bank of Canada raised their target price on Rayonier from $34.00 to $35.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. StockNews.com upgraded Rayonier from a “sell” rating to a “hold” rating in a research report on Monday, February 26th. Finally, TheStreet raised Rayonier from a “c+” rating to a “b-” rating in a research note on Friday, February 16th. Three investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $34.50.

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.