Rayonier Inc. (NYSE:RYN) Shares Bought by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. increased its position in shares of Rayonier Inc. (NYSE:RYN) by 12.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 114,613 shares of the real estate investment trust’s stock after acquiring an additional 12,700 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in Rayonier were worth $2,991,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Oppenheimer & Co. Inc. purchased a new stake in Rayonier in the 4th quarter valued at about $327,000. HighTower Advisors LLC increased its stake in shares of Rayonier by 3.4% during the fourth quarter. HighTower Advisors LLC now owns 66,571 shares of the real estate investment trust’s stock worth $1,738,000 after buying an additional 2,168 shares during the period. Marshall Wace LLP purchased a new stake in shares of Rayonier during the fourth quarter worth approximately $376,000. Charles Schwab Investment Management Inc. increased its stake in shares of Rayonier by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,488,802 shares of the real estate investment trust’s stock worth $64,958,000 after buying an additional 46,956 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Rayonier by 9.4% during the fourth quarter. Invesco Ltd. now owns 370,474 shares of the real estate investment trust’s stock worth $9,669,000 after buying an additional 31,916 shares during the period. Institutional investors and hedge funds own 89.12% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Truist Financial dropped their price target on shares of Rayonier from $30.00 to $27.00 and set a “hold” rating on the stock in a research note on Tuesday, April 22nd. StockNews.com upgraded Rayonier from a “sell” rating to a “hold” rating in a research note on Tuesday, May 13th. Raymond James upgraded Rayonier from a “market perform” rating to an “outperform” rating and set a $31.00 price target for the company in a research note on Wednesday, March 12th. Finally, Royal Bank of Canada cut their price objective on Rayonier from $28.00 to $27.00 and set a “sector perform” rating for the company in a research report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $27.50.

Rayonier Stock Performance

NYSE:RYN opened at $24.05 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 1.85 and a debt-to-equity ratio of 0.61. The firm has a 50-day moving average price of $25.38 and a two-hundred day moving average price of $26.92. Rayonier Inc. has a twelve month low of $22.80 and a twelve month high of $31.29. The company has a market capitalization of $3.75 billion, a P/E ratio of 10.19 and a beta of 1.07.

Rayonier (NYSE:RYN) last posted its earnings results on Wednesday, April 30th. The real estate investment trust reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.10). Rayonier had a net margin of 28.44% and a return on equity of 3.86%. The business had revenue of $82.90 million for the quarter, compared to analysts’ expectations of $152.99 million. During the same quarter last year, the business posted $0.01 earnings per share. The business’s revenue was down 27.1% compared to the same quarter last year. As a group, research analysts expect that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.

Rayonier Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.2725 per share. The ex-dividend date is Monday, June 16th. This represents a $1.09 annualized dividend and a dividend yield of 4.53%. Rayonier’s dividend payout ratio is currently 46.78%.

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.