Troluce Capital Advisors LLC Makes New $8.97 Million Investment in Rayonier Inc. $RYN

Troluce Capital Advisors LLC acquired a new position in Rayonier Inc. (NYSE:RYNFree Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 435,000 shares of the real estate investment trust’s stock, valued at approximately $8,970,000.

Several other institutional investors and hedge funds have also recently modified their holdings of RYN. Royal Bank of Canada boosted its position in shares of Rayonier by 29.6% during the first quarter. Royal Bank of Canada now owns 159,116 shares of the real estate investment trust’s stock valued at $4,436,000 after buying an additional 36,344 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Rayonier in the 1st quarter valued at $501,000. United Services Automobile Association bought a new position in Rayonier during the 1st quarter valued at $250,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Rayonier by 30.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 554,628 shares of the real estate investment trust’s stock valued at $15,463,000 after acquiring an additional 130,985 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Rayonier by 16.9% during the 2nd quarter. Invesco Ltd. now owns 863,707 shares of the real estate investment trust’s stock worth $19,157,000 after acquiring an additional 124,574 shares during the last quarter. 89.12% of the stock is owned by hedge funds and other institutional investors.

Rayonier Stock Up 0.0%

RYN stock opened at $21.59 on Monday. The stock’s fifty day simple moving average is $21.14 and its two-hundred day simple moving average is $21.52. 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 Inc. has a 1-year low of $19.49 and a 1-year high of $27.33. The stock has a market cap of $6.49 billion, a P/E ratio of 7.15 and a beta of 0.88.

Rayonier (NYSE:RYNGet Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $280.92 million. During the same quarter in the prior year, the company earned ($0.02) EPS. The business’s revenue for the quarter was up 233.9% on a year-over-year basis. Analysts expect that Rayonier Inc. will post 0.36 EPS for the current year.

Rayonier Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend is Wednesday, September 16th. Rayonier’s payout ratio is 34.44%.

Wall Street Analysts Forecast Growth

RYN has been the subject of several recent analyst reports. Truist Financial reduced their target price on shares of Rayonier from $25.00 to $24.00 and set a “hold” rating for the company in a research note on Wednesday, July 15th. Wall Street Zen raised shares of Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, April 18th. Citigroup cut their price target on shares of Rayonier from $24.00 to $22.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. Royal Bank Of Canada set a $24.00 price objective on shares of Rayonier in a research report on Thursday, April 16th. Finally, BMO Capital Markets decreased their price objective on shares of Rayonier from $26.00 to $25.00 and set a “market perform” rating for the company in a research note on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $24.60.

Get Our Latest Research Report on Rayonier

About Rayonier

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Rayonier (NYSE:RYN)

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