BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Acquires 639,000 Shares of Rayonier Inc. $RYN

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Rayonier Inc. (NYSE:RYN) by 15.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 4,842,552 shares of the real estate investment trust’s stock after acquiring an additional 639,000 shares during the period. Rayonier accounts for about 0.6% of BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings, making the stock its 28th largest position. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 3.14% of Rayonier worth $107,408,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in RYN. Norges Bank bought a new stake in Rayonier during the second quarter worth approximately $304,538,000. AQR Capital Management LLC boosted its holdings in shares of Rayonier by 1,287.3% during the 1st quarter. AQR Capital Management LLC now owns 1,506,119 shares of the real estate investment trust’s stock worth $41,991,000 after buying an additional 1,397,555 shares during the period. Nuveen LLC acquired a new position in Rayonier in the 1st quarter valued at $26,187,000. Legal & General Group Plc raised its holdings in Rayonier by 24.4% in the 2nd quarter. Legal & General Group Plc now owns 4,193,530 shares of the real estate investment trust’s stock worth $93,012,000 after acquiring an additional 823,311 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Rayonier by 25.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,688,309 shares of the real estate investment trust’s stock worth $81,807,000 after acquiring an additional 754,076 shares during the last quarter. 89.12% of the stock is owned by institutional investors.

Rayonier Stock Performance

Shares of NYSE RYN opened at $21.85 on Friday. The firm has a market capitalization of $3.36 billion, a price-to-earnings ratio of 4.34 and a beta of 0.97. Rayonier Inc. has a one year low of $21.06 and a one year high of $29.01. The business has a fifty day simple moving average of $22.93 and a 200 day simple moving average of $24.07. The company has a current ratio of 3.44, a quick ratio of 3.39 and a debt-to-equity ratio of 0.37.

Rayonier (NYSE:RYN) last posted its quarterly earnings results on Wednesday, November 5th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.09. Rayonier had a net margin of 70.95% and a return on equity of 4.74%. The firm had revenue of $177.53 million for the quarter, compared to the consensus estimate of $162.82 million. During the same quarter in the previous year, the company earned $0.12 earnings per share. The business’s revenue was up 43.0% compared to the same quarter last year. Rayonier has set its Q4 2025 guidance at 0.080-0.110 EPS and its FY 2025 guidance at 0.410- EPS. Sell-side analysts expect that Rayonier Inc. will post 0.55 EPS for the current year.

Rayonier Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th will be given a $0.2725 dividend. This represents a $1.09 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Wednesday, December 10th. Rayonier’s dividend payout ratio is 21.63%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on RYN shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Rayonier in a research note on Monday. Citigroup cut their price target on Rayonier from $27.00 to $24.00 and set a “neutral” rating for the company in a report on Wednesday, November 12th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Rayonier has a consensus rating of “Hold” and an average target price of $27.25.

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.