Impax Asset Management Group plc Purchases 1,004,357 Shares of Rayonier Inc. (NYSE:RYN)

Impax Asset Management Group plc increased its stake in Rayonier Inc. (NYSE:RYN - Free Report) by 17.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,815,188 shares of the real estate investment trust's stock after buying an additional 1,004,357 shares during the period. Impax Asset Management Group plc owned 4.58% of Rayonier worth $197,226,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Rayonier during the 4th quarter worth approximately $439,076,000. Confluence Investment Management LLC acquired a new position in shares of Rayonier in the first quarter valued at approximately $77,027,000. Cohen & Steers Inc. acquired a new stake in shares of Rayonier in the fourth quarter valued at $51,265,000. Central Securities Corp raised its position in Rayonier by 42.9% in the 1st quarter. Central Securities Corp now owns 1,000,000 shares of the real estate investment trust's stock valued at $33,240,000 after purchasing an additional 300,000 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in Rayonier by 108.9% during the 1st quarter. Russell Investments Group Ltd. now owns 541,344 shares of the real estate investment trust's stock worth $17,995,000 after acquiring an additional 282,145 shares in the last quarter. Hedge funds and other institutional investors own 89.12% of the company's stock.

Rayonier Stock Performance

RYN stock traded up $0.12 during trading on Friday, reaching $30.75. 345,339 shares of the company's stock were exchanged, compared to its average volume of 599,163. Rayonier Inc. has a 1-year low of $24.84 and a 1-year high of $35.29. The firm has a market cap of $4.58 billion, a PE ratio of 27.46 and a beta of 1.04. The company's fifty day moving average price is $29.56 and its 200-day moving average price is $30.72. The company has a quick ratio of 1.78, a current ratio of 1.98 and a debt-to-equity ratio of 0.75.

Rayonier (NYSE:RYN - Get Free Report) last released 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). The firm had revenue of $173.60 million for the quarter, compared to analyst estimates of $218.86 million. Rayonier had a return on equity of 3.00% and a net margin of 14.78%. Rayonier's revenue was down 16.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.05 earnings per share. On average, research analysts expect that Rayonier Inc. will post 0.41 EPS for the current fiscal year.

Rayonier Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.285 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.14 dividend on an annualized basis and a yield of 3.71%. Rayonier's dividend payout ratio (DPR) is currently 101.79%.

Wall Street Analysts Forecast Growth

RYN has been the topic of several recent research reports. StockNews.com upgraded Rayonier from a "sell" rating to a "hold" rating in a research report on Saturday, August 17th. Truist Financial cut their price objective on Rayonier from $34.00 to $31.00 and set a "hold" rating for the company in a research report on Tuesday, July 16th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set 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.