Intech Investment Management LLC Invests $791,000 in Rayonier Inc. (NYSE:RYN)

Intech Investment Management LLC purchased a new position in shares of Rayonier Inc. (NYSE:RYN - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 27,207 shares of the real estate investment trust's stock, valued at approximately $791,000.

Several other institutional investors and hedge funds have also made changes to their positions in RYN. Advisors Asset Management Inc. acquired a new stake in shares of Rayonier in the first quarter valued at approximately $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 period. Quest Partners LLC purchased a new stake in shares of Rayonier in the second quarter valued at about $40,000. Fifth Third Bancorp boosted its stake in shares of Rayonier by 83.7% during the second quarter. Fifth Third Bancorp now owns 1,449 shares of the real estate investment trust's stock worth $42,000 after buying an additional 660 shares during the period. Finally, Covestor Ltd boosted its stake in shares of Rayonier by 488.6% during the first quarter. Covestor Ltd now owns 1,554 shares of the real estate investment trust's stock worth $52,000 after buying an additional 1,290 shares during the period. 89.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RYN has been the subject of a number of recent research reports. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $34.00 price objective on shares of Rayonier in a research report on Friday, June 14th. Truist Financial lowered their price objective on shares of Rayonier from $34.00 to $31.00 and set a "hold" rating on the stock in a research report on Tuesday, July 16th. Finally, StockNews.com upgraded shares of Rayonier from a "sell" rating to a "hold" rating in a research report on Saturday, August 17th.

Rayonier Price Performance

Shares of RYN traded down $0.01 during mid-day trading on Thursday, hitting $31.75. The company's stock had a trading volume of 1,293,568 shares, compared to its average volume of 606,239. The company has a current ratio of 1.98, a quick ratio of 1.78 and a debt-to-equity ratio of 0.75. Rayonier Inc. has a 1-year low of $24.84 and a 1-year high of $35.29. The firm has a market capitalization of $4.73 billion, a P/E ratio of 28.36 and a beta of 1.04. The firm has a 50-day simple moving average of $30.40 and a 200 day simple moving average of $30.46.

Rayonier (NYSE:RYN - Get Free Report) last issued its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.02 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.12). Rayonier had a return on equity of 3.00% and a net margin of 14.78%. The company had revenue of $173.60 million for the quarter, compared to analysts' expectations of $218.86 million. During the same quarter in the previous year, the firm posted $0.05 earnings per share. Rayonier's revenue for the quarter was down 16.9% on a year-over-year basis. Analysts predict that Rayonier Inc. will post 0.38 EPS for the current fiscal year.

Rayonier Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.285 per share. The ex-dividend date is Monday, September 16th. This represents a $1.14 annualized dividend and a yield of 3.59%. Rayonier's payout ratio is currently 101.79%.

Insiders Place Their Bets

In other news, Director V. Larkin Martin sold 10,011 shares of Rayonier stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $30.57, for a total transaction of $306,036.27. Following the completion of the sale, the director now directly owns 40,168 shares in the company, valued at approximately $1,227,935.76. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.83% of the stock is currently owned by company insiders.

Rayonier Profile

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.