Schonfeld Strategic Advisors LLC Takes $416,000 Position in Rayonier Inc. (NYSE:RYN)

Schonfeld Strategic Advisors LLC purchased a new stake in Rayonier Inc. (NYSE:RYN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 15,953 shares of the real estate investment trust’s stock, valued at approximately $416,000.

Several other institutional investors and hedge funds also recently made changes to their positions in RYN. Norges Bank acquired a new stake in shares of Rayonier in the fourth quarter valued at about $343,007,000. Franklin Resources Inc. acquired a new stake in shares of Rayonier in the fourth quarter valued at about $30,935,000. Northern Trust Corp increased its stake in shares of Rayonier by 17.9% in the fourth quarter. Northern Trust Corp now owns 1,543,523 shares of the real estate investment trust’s stock valued at $40,286,000 after buying an additional 234,629 shares during the period. ExodusPoint Capital Management LP acquired a new stake in shares of Rayonier in the fourth quarter valued at about $4,726,000. Finally, Legal & General Group Plc increased its stake in shares of Rayonier by 5.8% in the fourth quarter. Legal & General Group Plc now owns 3,107,331 shares of the real estate investment trust’s stock valued at $81,101,000 after buying an additional 170,087 shares during the period. Institutional investors and hedge funds own 89.12% of the company’s stock.

Analysts Set New Price Targets

RYN has been the subject of several recent research reports. Royal Bank of Canada decreased their price target on Rayonier from $28.00 to $27.00 and set a “sector perform” rating for the company in a research note on Friday, May 2nd. StockNews.com lowered Rayonier from a “buy” rating to a “sell” rating in a research report on Monday, May 5th. Raymond James upgraded Rayonier from a “market perform” rating to an “outperform” rating and set a $31.00 target price on the stock in a research report on Wednesday, March 12th. Citigroup cut their target price on Rayonier from $32.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Finally, Truist Financial cut their target price on Rayonier from $30.00 to $27.00 and set a “hold” rating on the stock in a research report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, Rayonier presently has an average rating of “Hold” and a consensus target price of $27.50.

Rayonier Stock Up 0.6%

Shares of Rayonier stock opened at $23.52 on Monday. The stock’s 50-day moving average is $25.77 and its 200 day moving average is $27.23. The firm has a market cap of $3.66 billion, a price-to-earnings ratio of 9.97 and a beta of 1.07. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.12 and a quick ratio of 1.85. Rayonier Inc. has a one year low of $22.80 and a one year high of $31.29.

Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.10). The firm had revenue of $82.90 million during the quarter, compared to the consensus estimate of $152.99 million. Rayonier had a return on equity of 3.86% and a net margin of 28.44%. The firm’s revenue was down 27.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.01 EPS. Equities research analysts anticipate that Rayonier Inc. will post 0.55 EPS for the current year.

Rayonier Company 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.