Mountain Hill Investment Partners Corp. Increases Stock Holdings in Rayonier Inc. $RYN

Mountain Hill Investment Partners Corp. increased its holdings in Rayonier Inc. (NYSE:RYN) by 32.3% in the second quarter, Holdings Channel.com reports. The firm owned 20,440 shares of the real estate investment trust’s stock after purchasing an additional 4,993 shares during the period. Mountain Hill Investment Partners Corp.’s holdings in Rayonier were worth $453,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Principal Financial Group Inc. lifted its stake in shares of Rayonier by 5.0% in the first quarter. Principal Financial Group Inc. now owns 323,985 shares of the real estate investment trust’s stock worth $9,033,000 after acquiring an additional 15,382 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of Rayonier by 17.2% in the second quarter. Nordea Investment Management AB now owns 225,389 shares of the real estate investment trust’s stock worth $4,959,000 after acquiring an additional 33,071 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Rayonier by 54.6% in the first 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 in the last quarter. New York State Teachers Retirement System lifted its stake in shares of Rayonier by 5.4% in the first quarter. New York State Teachers Retirement System now owns 166,119 shares of the real estate investment trust’s stock worth $4,631,000 after acquiring an additional 8,565 shares in the last quarter. Finally, Mutual of America Capital Management LLC lifted its stake in shares of Rayonier by 2.1% in the first quarter. Mutual of America Capital Management LLC now owns 72,324 shares of the real estate investment trust’s stock worth $2,016,000 after acquiring an additional 1,487 shares in the last quarter. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Rayonier Stock Performance

Shares of RYN stock opened at $22.07 on Friday. 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 $3.40 billion, a price-to-earnings ratio of 4.46 and a beta of 0.99. The business has a 50 day simple moving average of $25.58 and a 200 day simple moving average of $24.53. 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 issued its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. Rayonier had a return on equity of 3.39% and a net margin of 68.53%.The business had revenue of $106.50 million during 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 business’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities research analysts anticipate that Rayonier Inc. will post 0.55 EPS for the current year.

Rayonier Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th will be given a dividend of $0.2725 per share. The ex-dividend date of this dividend is Wednesday, December 10th. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.9%. Rayonier’s payout ratio is 22.02%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. 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 note on Friday, August 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Rayonier in a research note on Tuesday, October 14th. Wall Street Zen upgraded Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Citigroup boosted their price target on Rayonier from $26.00 to $27.00 and gave the stock a “neutral” rating in a research note 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 stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $28.00.

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.