Capital Square LLC purchased a new stake in Rayonier Inc. (NYSE:RYN – Free Report) in the 2nd quarter, HoldingsChannel reports. The firm purchased 65,410 shares of the real estate investment trust’s stock, valued at approximately $1,391,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP raised its position in Rayonier by 19.8% during the fourth quarter. Quarry LP now owns 3,012 shares of the real estate investment trust’s stock valued at $65,000 after acquiring an additional 498 shares in the last quarter. Greenwood Gearhart Inc. grew its position in Rayonier by 4.9% in the fourth quarter. Greenwood Gearhart Inc. now owns 10,802 shares of the real estate investment trust’s stock worth $234,000 after acquiring an additional 502 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Rayonier by 65.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,581 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 627 shares during the last quarter. Keybank National Association OH increased its stake in shares of Rayonier by 4.4% during the 4th quarter. Keybank National Association OH now owns 15,641 shares of the real estate investment trust’s stock worth $339,000 after purchasing an additional 656 shares during the last quarter. Finally, Painted Porch Advisors LLC raised its holdings in shares of Rayonier by 4.9% during the 4th quarter. Painted Porch Advisors LLC now owns 14,421 shares of the real estate investment trust’s stock valued at $312,000 after purchasing an additional 671 shares in the last quarter. Institutional investors and hedge funds own 89.12% of the company’s stock.
Rayonier Stock Down 0.3%
RYN stock opened at $21.13 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.56 and a quick ratio of 2.91. Rayonier Inc. has a 52-week low of $19.49 and a 52-week high of $27.33. The company has a 50-day moving average of $21.49 and a two-hundred day moving average of $21.27. The stock has a market capitalization of $6.29 billion, a price-to-earnings ratio of 46.96 and a beta of 0.87.
Rayonier Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Wednesday, September 16th. Rayonier’s payout ratio is currently 231.11%.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on the stock. Weiss Ratings raised shares of Rayonier from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday. Truist Financial lowered their target price on shares of Rayonier from $25.00 to $24.00 and set a “hold” rating on the stock in a research report on Wednesday, July 15th. Citigroup boosted their price target on Rayonier from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Finally, BMO Capital Markets decreased their price target on 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 equities research analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Rayonier currently has an average rating of “Hold” and an average target price of $24.80.
View Our Latest Stock Analysis on Rayonier
Rayonier Profile
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.
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