Rayonier Inc. (NYSE:RYN) Position Boosted by Tidal Investments LLC

Tidal Investments LLC lifted its holdings in Rayonier Inc. (NYSE:RYN) by 18.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 98,121 shares of the real estate investment trust’s stock after purchasing an additional 15,318 shares during the period. Tidal Investments LLC owned about 0.07% of Rayonier worth $2,561,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in RYN. Norges Bank bought a new stake in Rayonier during the fourth quarter worth approximately $343,007,000. Deutsche Bank AG lifted its position in shares of Rayonier by 730.8% during the 4th quarter. Deutsche Bank AG now owns 1,829,422 shares of the real estate investment trust’s stock valued at $47,748,000 after acquiring an additional 1,609,232 shares during the last quarter. Franklin Resources Inc. bought a new stake in shares of Rayonier during the 4th quarter worth $30,935,000. Millennium Management LLC grew its holdings in shares of Rayonier by 253.3% in the 4th quarter. Millennium Management LLC now owns 1,094,880 shares of the real estate investment trust’s stock worth $28,576,000 after acquiring an additional 784,955 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Rayonier by 17.9% in the 4th quarter. Northern Trust Corp now owns 1,543,523 shares of the real estate investment trust’s stock worth $40,286,000 after acquiring an additional 234,629 shares during the last quarter. 89.12% of the stock is currently owned by institutional investors.

Rayonier Stock Performance

Shares of RYN stock opened at $23.36 on Friday. The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of 9.90 and a beta of 1.07. Rayonier Inc. has a 1-year low of $22.80 and a 1-year high of $31.29. The company has a current ratio of 1.12, a quick ratio of 1.85 and a debt-to-equity ratio of 0.61. The stock’s fifty day simple moving average is $25.13 and its 200-day simple moving average is $26.82.

Rayonier (NYSE:RYN) last released its earnings results on Wednesday, April 30th. The real estate investment trust reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.10). The business had revenue of $82.90 million for the quarter, compared to analysts’ expectations of $152.99 million. Rayonier had a net margin of 28.44% and a return on equity of 3.86%. The company’s revenue was down 27.1% compared to the same quarter last year. During the same period last year, the firm earned $0.01 EPS. On average, sell-side analysts predict that Rayonier Inc. will post 0.55 earnings per share for the current fiscal 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 given a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a yield of 4.67%. The ex-dividend date is Monday, June 16th. Rayonier’s payout ratio is presently 46.78%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Royal Bank of Canada reduced their target price on Rayonier from $28.00 to $27.00 and set a “sector perform” rating for the company in a report on Friday, May 2nd. Wall Street Zen raised shares of Rayonier from a “sell” rating to a “hold” rating in a research note on Tuesday, May 13th. Truist Financial decreased their target price on shares of Rayonier from $30.00 to $27.00 and set a “hold” rating for the company in a report on Tuesday, April 22nd. Finally, Raymond James upgraded shares of Rayonier from a “market perform” rating to an “outperform” rating and set a $31.00 price target on the stock in a report on Wednesday, March 12th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Rayonier currently has a consensus rating of “Hold” and a consensus target price of $27.50.

Rayonier Company 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.