Edgestream Partners L.P. Acquires New Stake in Rayonier Inc. (NYSE:RYN)

Edgestream Partners L.P. acquired a new position in shares of Rayonier Inc. (NYSE:RYN) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 25,157 shares of the real estate investment trust’s stock, valued at approximately $732,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Confluence Investment Management LLC purchased a new stake in shares of Rayonier during the first quarter worth about $77,027,000. Cohen & Steers Inc. purchased a new stake in Rayonier in the 4th quarter worth approximately $51,265,000. Impax Asset Management Group plc raised its holdings in Rayonier by 17.3% in the 2nd quarter. Impax Asset Management Group plc now owns 6,815,188 shares of the real estate investment trust’s stock valued at $197,226,000 after acquiring an additional 1,004,357 shares during the last quarter. Teramo Advisors LLC purchased a new position in shares of Rayonier during the 2nd quarter worth $9,309,000. Finally, Central Securities Corp boosted its holdings in shares of Rayonier by 42.9% during the first quarter. Central Securities Corp now owns 1,000,000 shares of the real estate investment trust’s stock worth $33,240,000 after purchasing an additional 300,000 shares during the last quarter. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

Rayonier Price Performance

Shares of Rayonier stock opened at $31.87 on Friday. The stock has a market capitalization of $4.74 billion, a P/E ratio of 28.46 and a beta of 1.04. The company has a current ratio of 1.98, a quick ratio of 1.78 and a debt-to-equity ratio of 0.75. The business’s fifty day moving average price is $30.23 and its 200 day moving average price is $30.52. Rayonier Inc. has a twelve month low of $24.84 and a twelve month high of $35.29.

Rayonier (NYSE:RYN) last issued its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.12). Rayonier had a return on equity of 3.00% and a net margin of 14.78%. The firm had revenue of $173.60 million for the quarter, compared to analysts’ expectations of $218.86 million. During the same quarter in the previous year, the firm posted $0.05 EPS. The firm’s revenue for the quarter was down 16.9% compared to the same quarter last year. As a group, research analysts anticipate that Rayonier Inc. will post 0.4 earnings per share for the current year.

Rayonier Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date is Monday, September 16th. Rayonier’s dividend payout ratio is presently 101.79%.

Insider Activity at Rayonier

In related news, Director V. Larkin Martin sold 10,011 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $30.57, for a total value of $306,036.27. Following the completion of the sale, the director now directly owns 40,168 shares in the company, valued at approximately $1,227,935.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.83% of the company’s stock.

Wall Street Analyst Weigh In

RYN has been the subject of several analyst reports. StockNews.com upgraded Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, August 17th. Truist Financial cut their price objective on shares of Rayonier from $34.00 to $31.00 and set a “hold” rating on the stock in a report on Tuesday, July 16th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $34.00 target price on shares of Rayonier in a report on Friday, June 14th.

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.