Walleye Capital LLC Purchases Shares of 215,034 Rayonier Inc. $RYN

Walleye Capital LLC purchased a new stake in Rayonier Inc. (NYSE:RYN) during the second quarter, Holdings Channel reports. The firm purchased 215,034 shares of the real estate investment trust’s stock, valued at approximately $4,576,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Salvus Wealth Management LLC bought a new position in shares of Rayonier during the 2nd quarter worth approximately $700,000. Revolve Wealth Partners LLC purchased a new stake in Rayonier during the second quarter valued at approximately $292,000. FNY Investment Advisers LLC boosted its stake in Rayonier by 50.0% in the second quarter. FNY Investment Advisers LLC now owns 3,000 shares of the real estate investment trust’s stock valued at $63,000 after acquiring an additional 1,000 shares in the last quarter. Sanders Morris Harris LLC acquired a new stake in Rayonier in the second quarter valued at approximately $213,000. Finally, Basecamp Wealth Advisors LLC boosted its stake in Rayonier by 109.5% in the first quarter. Basecamp Wealth Advisors LLC now owns 2,571 shares of the real estate investment trust’s stock valued at $53,000 after acquiring an additional 1,344 shares in the last quarter. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Rayonier Stock Down 0.9%

Shares of RYN stock opened at $21.55 on Friday. The stock has a market cap of $6.41 billion, a P/E ratio of 47.90 and a beta of 0.87. Rayonier Inc. has a twelve month low of $19.49 and a twelve month high of $27.33. The stock has a 50 day moving average of $21.47 and a 200 day moving average of $21.34. The company has a current ratio of 3.56, a quick ratio of 2.91 and a debt-to-equity ratio of 0.36.

Rayonier (NYSE:RYN) last posted its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. Rayonier had a net margin of 7.83% and a return on equity of 3.49%. The firm had revenue of $396.51 million during the quarter, compared to analyst estimates of $374.28 million. During the same period in the previous year, the firm earned $0.06 EPS. The business’s quarterly revenue was up 272.3% on a year-over-year basis. As a group, sell-side analysts expect that Rayonier Inc. will post 0.42 EPS for the current year.

Rayonier Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $1.04 dividend on an annualized basis and a yield of 4.8%. Rayonier’s payout ratio is presently 231.11%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RYN. Citigroup upped their price target on Rayonier from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Monday. Wall Street Zen raised shares of Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, April 18th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Rayonier in a research note on Friday, August 7th. BMO Capital Markets dropped their target price on shares of Rayonier from $26.00 to $25.00 and set a “market perform” rating on the stock in a research report on Tuesday, May 19th. Finally, Truist Financial lowered their price objective on shares of Rayonier from $25.00 to $24.00 and set a “hold” rating for the company in a research note on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $24.80.

Rayonier Company Profile

Rayonier, Inc (NYSE: RYN) is a publicly traded real estate investment trust specializing in timberland ownership and management. The company’s core business revolves around sustainably growing, harvesting, and marketing timber and timber-related products. Rayonier’s timberland portfolio encompasses approximately 2.7 million acres across the United States and New Zealand, focusing on softwood and hardwood fiber for use in paper, packaging and building materials.

Rayonier operates through two primary segments: Timber and Real Estate Solutions.