320,000 Shares in Rayonier Inc. (NYSE:RYN) Acquired by Teramo Advisors LLC

Teramo Advisors LLC bought a new position in shares of Rayonier Inc. (NYSE:RYN - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 320,000 shares of the real estate investment trust's stock, valued at approximately $9,309,000. Rayonier makes up 3.2% of Teramo Advisors LLC's investment portfolio, making the stock its 2nd biggest holding. Teramo Advisors LLC owned approximately 0.21% of Rayonier at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Advisors Asset Management Inc. purchased a new stake in shares of Rayonier in the first quarter valued at $26,000. GAMMA Investing LLC increased its stake in Rayonier by 53.5% in the second quarter. GAMMA Investing LLC now owns 1,079 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 376 shares during the last quarter. Quest Partners LLC acquired a new position in Rayonier in the second quarter valued at $40,000. Fifth Third Bancorp increased its stake in Rayonier by 83.7% in the second quarter. Fifth Third Bancorp now owns 1,449 shares of the real estate investment trust's stock valued at $42,000 after purchasing an additional 660 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. increased its stake in Rayonier by 2,272.7% in the second quarter. Farmers & Merchants Investments Inc. now owns 1,566 shares of the real estate investment trust's stock valued at $46,000 after purchasing an additional 1,500 shares during the last quarter. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

Rayonier Stock Performance

Shares of RYN stock remained flat at $30.84 during trading hours on Wednesday. The stock had a trading volume of 488,157 shares, compared to its average volume of 596,391. 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 Inc. has a fifty-two week low of $24.84 and a fifty-two week high of $35.29. The stock has a market capitalization of $4.59 billion, a P/E ratio of 27.21 and a beta of 1.04. The company's fifty day simple moving average is $29.65 and its two-hundred day simple moving average is $30.64.

Rayonier (NYSE:RYN - Get Free Report) last posted 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 company had revenue of $173.60 million during the quarter, compared to analyst estimates of $218.86 million. Rayonier had a net margin of 14.78% and a return on equity of 3.00%. Rayonier's quarterly revenue was down 16.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.05 EPS. As a group, equities analysts expect that Rayonier Inc. will post 0.41 earnings per share for the current year.

Rayonier Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend is Monday, September 16th. Rayonier's dividend payout ratio is currently 101.79%.

Analyst Ratings Changes

RYN has been the subject of several analyst reports. Royal Bank of Canada reiterated a "sector perform" rating and issued a $34.00 target price on shares of Rayonier in a research note on Friday, June 14th. Truist Financial dropped their price target on Rayonier from $34.00 to $31.00 and set a "hold" rating for the company in a research note on Tuesday, July 16th. Finally, StockNews.com upgraded Rayonier from a "sell" rating to a "hold" rating in a research note on Saturday, August 17th.

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.