Rayonier Inc. $RYN Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC increased its position in shares of Rayonier Inc. (NYSE:RYN) by 9.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,024,483 shares of the real estate investment trust’s stock after buying an additional 84,864 shares during the quarter. Renaissance Technologies LLC’s holdings in Rayonier were worth $21,125,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio lifted its stake in shares of Rayonier by 82.6% in the 1st quarter. Public Employees Retirement System of Ohio now owns 92,350 shares of the real estate investment trust’s stock valued at $1,904,000 after purchasing an additional 41,771 shares during the last quarter. Aristides Capital LLC purchased a new stake in Rayonier in the 1st quarter valued at about $1,029,000. Sei Investments Co. raised its holdings in Rayonier by 1,594.2% in the 1st quarter. Sei Investments Co. now owns 600,398 shares of the real estate investment trust’s stock valued at $12,380,000 after buying an additional 564,960 shares during the period. Cetera Investment Advisers lifted its position in Rayonier by 3,362.4% in the first quarter. Cetera Investment Advisers now owns 387,475 shares of the real estate investment trust’s stock valued at $7,990,000 after buying an additional 376,284 shares during the last quarter. Finally, Kopernik Global Investors LLC purchased a new position in Rayonier during the first quarter worth about $45,086,000. 89.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RYN has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, April 18th. 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 report on Wednesday, July 15th. Citigroup dropped their target price on shares of Rayonier from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Weiss Ratings lowered Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 12th. Finally, BMO Capital Markets decreased their price target on Rayonier from $26.00 to $25.00 and set a “market perform” rating on the stock in a research note on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $24.60.

Rayonier Stock Up 0.5%

Shares of NYSE RYN opened at $22.19 on Thursday. The stock has a market cap of $6.67 billion, a P/E ratio of 7.35 and a beta of 0.88. The business’s fifty day simple moving average is $21.26 and its 200-day simple moving average is $21.52. Rayonier Inc. has a 12-month low of $19.49 and a 12-month high of $27.33. The company has a current ratio of 2.53, a quick ratio of 2.21 and a debt-to-equity ratio of 0.35.

Rayonier (NYSE:RYN) last released its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.07 EPS for the quarter, topping the consensus estimate of $0.06 by $0.01. Rayonier had a return on equity of 3.61% and a net margin of 68.61%.The firm had revenue of $276.79 million during the quarter, compared to analysts’ expectations of $280.92 million. During the same period in the previous year, the firm posted ($0.02) EPS. Rayonier’s revenue for the quarter was up 233.9% on a year-over-year basis. As a group, equities analysts predict that Rayonier Inc. will post 0.36 EPS for the current fiscal year.

Rayonier Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.7%. Rayonier’s payout ratio is currently 34.44%.

About Rayonier

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.