8,871 Shares in Rayonier Inc. (NYSE:RYN) Acquired by Quantinno Capital Management LP

Quantinno Capital Management LP bought a new stake in shares of Rayonier Inc. (NYSE:RYN) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 8,871 shares of the real estate investment trust’s stock, valued at approximately $285,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Impax Asset Management Group plc increased its position in Rayonier by 17.3% during the second 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. Massachusetts Financial Services Co. MA increased its position in shares of Rayonier by 26.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,352,691 shares of the real estate investment trust’s stock valued at $107,890,000 after purchasing an additional 695,810 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Rayonier by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,441,846 shares of the real estate investment trust’s stock worth $78,579,000 after purchasing an additional 7,733 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Rayonier by 0.9% in the second quarter. Bank of New York Mellon Corp now owns 1,240,608 shares of the real estate investment trust’s stock worth $36,089,000 after buying an additional 10,536 shares during the last quarter. Finally, Global Alpha Capital Management Ltd. increased its holdings in Rayonier by 2.9% during the third quarter. Global Alpha Capital Management Ltd. now owns 1,034,127 shares of the real estate investment trust’s stock valued at $33,278,000 after buying an additional 28,800 shares during the last quarter. 89.12% of the stock is owned by institutional investors.

Rayonier Price Performance

NYSE RYN opened at $28.83 on Monday. The company has a current ratio of 1.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.71. Rayonier Inc. has a 12 month low of $27.40 and a 12 month high of $35.29. The stock has a market cap of $4.30 billion, a price-to-earnings ratio of 27.20 and a beta of 1.02. The company’s 50 day moving average is $31.17 and its two-hundred day moving average is $30.48.

Rayonier (NYSE:RYN) last announced its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). The firm had revenue of $195.00 million for the quarter, compared to the consensus estimate of $211.21 million. Rayonier had a net margin of 15.84% and a return on equity of 2.95%. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.13 earnings per share. As a group, research analysts anticipate that Rayonier Inc. will post 0.38 earnings per share for the current year.

Rayonier declared that its board has approved a share buyback program on Monday, December 2nd that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Rayonier Increases Dividend

The firm also recently disclosed a special dividend, which will be paid on Thursday, January 30th. Stockholders of record on Thursday, December 12th will be paid a $1.80 dividend. This is a positive change from Rayonier’s previous special dividend of $0.20. Rayonier’s dividend payout ratio is 107.55%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on RYN shares. Truist Financial lifted their price target on shares of Rayonier from $31.00 to $32.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th. StockNews.com upgraded Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th.

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.