Yousif Capital Management LLC Lowers Holdings in Rayonier Inc. $RYN

Yousif Capital Management LLC trimmed its position in Rayonier Inc. (NYSE:RYN) by 2.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,407 shares of the real estate investment trust’s stock after selling 1,050 shares during the quarter. Yousif Capital Management LLC’s holdings in Rayonier were worth $1,051,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. CWM LLC lifted its holdings in shares of Rayonier by 15.1% in the 2nd quarter. CWM LLC now owns 72,213 shares of the real estate investment trust’s stock worth $1,602,000 after buying an additional 9,468 shares during the period. Comprehensive Money Management Services LLC lifted its holdings in shares of Rayonier by 22.4% in the 2nd quarter. Comprehensive Money Management Services LLC now owns 40,126 shares of the real estate investment trust’s stock worth $890,000 after buying an additional 7,331 shares during the period. Trust Co. of Toledo NA OH purchased a new stake in shares of Rayonier in the 2nd quarter worth $92,000. Inspire Investing LLC lifted its holdings in shares of Rayonier by 60.7% in the 2nd quarter. Inspire Investing LLC now owns 19,854 shares of the real estate investment trust’s stock worth $440,000 after buying an additional 7,497 shares during the period. Finally, IFP Advisors Inc lifted 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 worth $46,000 after buying an additional 2,068 shares during the period. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Rayonier Trading Up 0.6%

Shares of NYSE:RYN opened at $24.71 on Wednesday. The business’s 50-day moving average is $26.12 and its 200 day moving average is $24.59. Rayonier Inc. has a 1 year low of $21.84 and a 1 year high of $32.88. The firm has a market capitalization of $3.81 billion, a P/E ratio of 4.99 and a beta of 0.99. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.50 and a quick ratio of 3.38.

Rayonier (NYSE:RYN) last announced its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, beating 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 company had revenue of $106.50 million for the quarter, compared to analyst estimates of $95.30 million. During the same period in the prior year, the company posted $0.02 EPS. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, research analysts predict 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 given a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Wednesday, December 10th. Rayonier’s dividend payout ratio is currently 22.02%.

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.