Point72 Asset Management L.P. Takes $5.67 Million Position in Rayonier Inc. (NYSE:RYN)

Point72 Asset Management L.P. bought a new stake in Rayonier Inc. (NYSE:RYN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 217,286 shares of the real estate investment trust’s stock, valued at approximately $5,671,000. Point72 Asset Management L.P. owned approximately 0.15% of Rayonier as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Harvest Fund Management Co. Ltd purchased a new stake in shares of Rayonier during the fourth quarter valued at approximately $25,000. UMB Bank n.a. increased its position in shares of Rayonier by 59.7% during the fourth quarter. UMB Bank n.a. now owns 1,404 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 525 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of Rayonier by 264.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,677 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 1,217 shares during the last quarter. Covestor Ltd increased its position in shares of Rayonier by 30.0% during the fourth quarter. Covestor Ltd now owns 2,317 shares of the real estate investment trust’s stock valued at $60,000 after acquiring an additional 535 shares during the last quarter. Finally, KBC Group NV increased its position in shares of Rayonier by 61.1% during the fourth quarter. KBC Group NV now owns 6,460 shares of the real estate investment trust’s stock valued at $169,000 after acquiring an additional 2,449 shares during the last quarter. Institutional investors own 89.12% of the company’s stock.

Rayonier Stock Performance

Shares of RYN opened at $24.05 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.12 and a quick ratio of 1.85. Rayonier Inc. has a 1 year low of $22.80 and a 1 year high of $31.29. The firm has a market cap of $3.75 billion, a PE ratio of 10.19 and a beta of 1.07. The stock’s fifty day moving average price is $25.38 and its two-hundred day moving average price is $26.92.

Rayonier (NYSE:RYN) last released its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.10). Rayonier had a net margin of 28.44% and a return on equity of 3.86%. The company had revenue of $82.90 million for the quarter, compared to the consensus estimate of $152.99 million. During the same quarter in the previous year, the firm posted $0.01 earnings per share. The business’s revenue for the quarter was down 27.1% compared to the same quarter last year. On average, equities research analysts forecast that Rayonier Inc. will post 0.55 EPS for the current year.

Rayonier Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a dividend of $0.2725 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.53%. Rayonier’s payout ratio is 46.78%.

Analysts Set New Price Targets

RYN has been the subject of a number of research analyst reports. Raymond James raised Rayonier from a “market perform” rating to an “outperform” rating and set a $31.00 price target for the company in a research report on Wednesday, March 12th. Truist Financial lowered their target price on Rayonier from $30.00 to $27.00 and set a “hold” rating on the stock in a research note on Tuesday, April 22nd. StockNews.com upgraded Rayonier from a “sell” rating to a “hold” rating in a research note on Tuesday, May 13th. Finally, Royal Bank of Canada lowered their target price on Rayonier from $28.00 to $27.00 and set a “sector perform” rating on the stock in a research note on Friday, May 2nd. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Rayonier has a consensus rating of “Hold” and a consensus target price of $27.50.

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.