Edgestream Partners L.P. Takes Position in Rayonier Inc. (NYSE:RYN)

Edgestream Partners L.P. acquired a new stake in Rayonier Inc. (NYSE:RYN - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 25,157 shares of the real estate investment trust's stock, valued at approximately $732,000.

A number of other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in Rayonier by 148.4% in the second quarter. Dimensional Fund Advisors LP now owns 120,462 shares of the real estate investment trust's stock valued at $3,504,000 after buying an additional 71,961 shares during the period. WINTON GROUP Ltd purchased a new position in Rayonier in the 2nd quarter worth approximately $3,275,000. Cornercap Investment Counsel Inc. acquired a new stake in Rayonier in the second quarter valued at approximately $702,000. Teramo Advisors LLC purchased a new stake in shares of Rayonier during the second quarter valued at approximately $9,309,000. Finally, United Services Automobile Association acquired a new position in shares of Rayonier during the second quarter worth $309,000. Hedge funds and other institutional investors own 89.12% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on RYN shares. Truist Financial lowered their price target on shares of Rayonier from $34.00 to $31.00 and set a "hold" rating for the company in a report on Tuesday, July 16th. StockNews.com raised shares of Rayonier from a "sell" rating to a "hold" rating in a report on Saturday, August 17th. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $34.00 price target on shares of Rayonier in a research report on Friday, June 14th.

Rayonier Stock Performance

Shares of NYSE RYN traded up $0.10 during midday trading on Friday, hitting $31.87. 2,185,933 shares of the company's stock were exchanged, compared to its average volume of 603,101. Rayonier Inc. has a twelve month low of $24.84 and a twelve month high of $35.29. The firm has a market cap of $4.74 billion, a P/E ratio of 28.46 and a beta of 1.04. The stock's 50 day moving average price is $30.23 and its 200-day moving average price is $30.52. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.98 and a quick ratio of 1.78.

Rayonier (NYSE:RYN - Get Free Report) last announced its quarterly 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 business 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%. The company's revenue was down 16.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.05 EPS. Equities research analysts anticipate that Rayonier Inc. will post 0.4 EPS for the current year.

Rayonier Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend is Monday, September 16th. Rayonier's dividend payout ratio is presently 101.79%.

Insider Buying and Selling

In related news, Director V. Larkin Martin sold 10,011 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $30.57, for a total value of $306,036.27. Following the completion of the transaction, the director now owns 40,168 shares in the company, valued at approximately $1,227,935.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.83% of the stock is currently owned by insiders.

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.