Brighton Jones LLC Purchases 14,978 Shares of Rayonier Inc. $RYN

Brighton Jones LLC raised its position in shares of Rayonier Inc. (NYSE:RYN) by 186.3% in the second quarter, HoldingsChannel reports. The firm owned 23,019 shares of the real estate investment trust’s stock after acquiring an additional 14,978 shares during the period. Brighton Jones LLC’s holdings in Rayonier were worth $511,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of RYN. Elequin Capital LP bought a new stake in Rayonier during the 1st quarter valued at $30,000. GKV Capital Management Co. Inc. purchased a new position in shares of Rayonier in the 1st quarter valued at $32,000. IFP Advisors Inc increased its holdings in shares of 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 acquiring an additional 2,068 shares during the period. Headlands Technologies LLC increased its holdings in shares of 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 acquiring an additional 1,434 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of 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 acquiring an additional 947 shares during the period. 89.12% of the stock is owned by institutional investors.

Rayonier Stock Down 3.0%

Shares of RYN stock opened at $22.57 on Thursday. Rayonier Inc. has a 1-year low of $21.84 and a 1-year high of $32.88. The stock’s fifty day moving average price is $25.77 and its 200 day moving average price is $24.56. 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 company has a market cap of $3.48 billion, a price-to-earnings ratio of 4.56 and a beta of 0.99.

Rayonier (NYSE:RYN) last announced its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.03. Rayonier had a return on equity of 3.39% and a net margin of 68.53%.The firm had revenue of $106.50 million for the quarter, compared to the consensus estimate of $95.30 million. During the same period in the previous year, the business earned $0.02 EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, research analysts expect that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.

Rayonier Announces Dividend

The firm 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. This represents a $1.09 annualized dividend and a yield of 4.8%. The ex-dividend date is Wednesday, December 10th. Rayonier’s payout ratio is 22.02%.

Wall Street Analyst Weigh In

RYN has been the topic of a number of analyst reports. Wall Street Zen upgraded Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Royal Bank Of Canada lifted their price target on Rayonier from $26.00 to $27.00 and gave the company a “sector perform” rating in a report on Friday, August 8th. Citigroup lifted their price target on Rayonier from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Thursday, August 21st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Rayonier in a report on Tuesday, October 14th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Rayonier currently has an average rating of “Hold” and an average target price of $28.00.

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.