Abel Hall LLC Purchases New Holdings in Rayonier Inc. $RYN

Abel Hall LLC purchased a new stake in Rayonier Inc. (NYSE:RYN) in the second quarter, HoldingsChannel reports. The firm purchased 11,520 shares of the real estate investment trust’s stock, valued at approximately $256,000.

A number of other hedge funds and other institutional investors have also modified their holdings of RYN. Elequin Capital LP acquired a new stake in shares of Rayonier in the first quarter valued at approximately $30,000. GKV Capital Management Co. Inc. acquired a new stake in shares of Rayonier in the first quarter valued at approximately $32,000. Byrne Asset Management LLC acquired a new stake in Rayonier during the 1st quarter worth $38,000. Headlands Technologies LLC grew its holdings in Rayonier by 223.4% during the 1st quarter. Headlands Technologies LLC now owns 2,076 shares of the real estate investment trust’s stock worth $58,000 after acquiring an additional 1,434 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Rayonier by 54.6% during the 1st quarter. GAMMA Investing LLC now owns 2,680 shares of the real estate investment trust’s stock worth $75,000 after acquiring an additional 947 shares during the period. Institutional investors and hedge funds own 89.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on RYN. Citigroup lifted their target price on shares of Rayonier from $26.00 to $27.00 and gave the stock a “neutral” rating in a report on Thursday, August 21st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Rayonier in a report on Saturday, September 27th. Wall Street Zen raised shares of Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Royal Bank Of Canada lifted their target price on shares of Rayonier from $26.00 to $27.00 and gave the stock a “sector perform” rating in a report on Friday, August 8th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Rayonier currently has an average rating of “Hold” and a consensus price target of $28.00.

Rayonier Price Performance

Shares of RYN stock opened at $26.67 on Thursday. Rayonier Inc. has a 12-month low of $21.84 and a 12-month high of $32.88. The firm has a market capitalization of $4.11 billion, a price-to-earnings ratio of 5.39 and a beta of 0.99. The company has a quick ratio of 3.38, a current ratio of 3.50 and a debt-to-equity ratio of 0.37. The firm has a fifty day moving average of $26.06 and a 200-day moving average of $24.76.

Rayonier (NYSE:RYN) last announced its quarterly 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 net margin of 68.53% and a return on equity of 3.39%. The company had revenue of $106.50 million during the quarter, compared to analyst estimates of $95.30 million. During the same quarter in the previous year, the business earned $0.02 EPS. The firm’s revenue was up 6.9% on a year-over-year basis. On average, equities research analysts forecast that Rayonier Inc. will post 0.55 earnings per share for the current year.

Rayonier Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were issued a $0.2725 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $1.09 annualized dividend and a dividend yield of 4.1%. Rayonier’s payout ratio is 22.02%.

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.