Y Intercept Hong Kong Ltd Purchases Shares of 20,325 Rayonier Inc. (NYSE:RYN)

Y Intercept Hong Kong Ltd acquired a new stake in Rayonier Inc. (NYSE:RYN - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The fund acquired 20,325 shares of the real estate investment trust's stock, valued at approximately $654,000.

Other institutional investors also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new position in Rayonier in the 3rd quarter worth about $25,000. Venturi Wealth Management LLC lifted its position in Rayonier by 165.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,079 shares of the real estate investment trust's stock worth $35,000 after buying an additional 672 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Rayonier in the 2nd quarter valued at $40,000. Blue Trust Inc. lifted its stake in shares of Rayonier by 539.9% in the 3rd quarter. Blue Trust Inc. now owns 1,235 shares of the real estate investment trust's stock valued at $40,000 after acquiring an additional 1,042 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of Rayonier by 83.7% in the second quarter. Fifth Third Bancorp now owns 1,449 shares of the real estate investment trust's stock worth $42,000 after purchasing an additional 660 shares during the last quarter. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

Rayonier Stock Performance

Rayonier stock traded down $0.02 during midday trading on Friday, reaching $28.83. 706,075 shares of the company traded hands, compared to its average volume of 581,905. The firm has a market capitalization of $4.30 billion, a price-to-earnings ratio of 27.20 and a beta of 1.02. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.99 and a quick ratio of 1.85. Rayonier Inc. has a 12 month low of $27.40 and a 12 month high of $35.29. The business has a 50 day moving average of $31.17 and a two-hundred day moving average of $30.48.

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

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

Rayonier Increases Dividend

The business also recently disclosed a special dividend, which will be paid on Thursday, January 30th. Investors of record on Thursday, December 12th will be paid a dividend of $1.80 per share. This is an increase from Rayonier's previous special dividend of $0.20. Rayonier's payout ratio is 107.55%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RYN. Truist Financial raised their price target on Rayonier from $31.00 to $32.00 and gave the stock a "hold" rating in a research note on Tuesday, October 15th. StockNews.com raised shares of 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.