MQS Management LLC Acquires Shares of 15,825 Rayonier Inc. (NYSE:RYN)

MQS Management LLC acquired a new stake in shares of Rayonier Inc. (NYSE:RYN) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,825 shares of the real estate investment trust’s stock, valued at approximately $526,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Covestor Ltd grew its holdings in Rayonier by 488.6% during the first quarter. Covestor Ltd now owns 1,554 shares of the real estate investment trust’s stock valued at $52,000 after purchasing an additional 1,290 shares during the period. Larson Financial Group LLC purchased a new stake in shares of Rayonier during the first quarter worth $62,000. Signaturefd LLC lifted its position in shares of Rayonier by 371.7% during the fourth quarter. Signaturefd LLC now owns 2,052 shares of the real estate investment trust’s stock worth $69,000 after acquiring an additional 1,617 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Rayonier by 525.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,551 shares of the real estate investment trust’s stock worth $85,000 after acquiring an additional 2,143 shares in the last quarter. Finally, Financial Management Professionals Inc. lifted its position in shares of Rayonier by 18.7% during the first quarter. Financial Management Professionals Inc. now owns 3,808 shares of the real estate investment trust’s stock worth $127,000 after acquiring an additional 600 shares in the last quarter. 89.12% of the stock is owned by institutional investors.

Rayonier Trading Up 0.5 %

Shares of NYSE:RYN traded up $0.14 on Thursday, reaching $29.45. 539,417 shares of the company traded hands, compared to its average volume of 595,443. The company has a current ratio of 2.46, a quick ratio of 2.08 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $4.38 billion, a P/E ratio of 26.29 and a beta of 1.05. Rayonier Inc. has a 52 week low of $24.84 and a 52 week high of $35.29. The business’s 50-day simple moving average is $29.40 and its 200 day simple moving average is $31.15.

Rayonier (NYSE:RYN) last posted its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. The company had revenue of $168.10 million for the quarter, compared to analysts’ expectations of $190.04 million. Rayonier had a return on equity of 3.21% and a net margin of 15.92%. Rayonier’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period last year, the firm earned $0.01 earnings per share. As a group, equities analysts anticipate that Rayonier Inc. will post 0.44 EPS for the current fiscal year.

Rayonier Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.285 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.14 annualized dividend and a yield of 3.87%. Rayonier’s dividend payout ratio (DPR) is presently 101.79%.

Analyst Upgrades and Downgrades

RYN has been the topic of several recent research reports. Truist Financial dropped their target price on Rayonier from $34.00 to $31.00 and set a “hold” rating on the stock in a research report on Tuesday, July 16th. StockNews.com downgraded Rayonier from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $34.00 price objective on shares of Rayonier in a research report on Friday, June 14th.

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.