Brighton Jones LLC Acquires Shares of 6,401 Rayonier Inc. (NYSE:RYN)

Brighton Jones LLC bought a new position in shares of Rayonier Inc. (NYSE:RYN) in the fourth quarter, Holdings Channel reports. The institutional investor bought 6,401 shares of the real estate investment trust’s stock, valued at approximately $214,000.

A number of other institutional investors and hedge funds have also modified their holdings of RYN. Millburn Ridgefield Corp purchased a new stake in shares of Rayonier during the third quarter worth about $26,000. Fifth Third Bancorp increased its stake in shares of Rayonier by 84.7% during the third quarter. Fifth Third Bancorp now owns 1,919 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 880 shares in the last quarter. Signaturefd LLC increased its stake in shares of Rayonier by 371.7% during the fourth quarter. Signaturefd LLC now owns 2,052 shares of the real estate investment trust’s stock worth $69,000 after purchasing an additional 1,617 shares in the last quarter. Laurion Capital Management LP purchased a new stake in shares of Rayonier during the third quarter worth about $220,000. Finally, Mackenzie Financial Corp purchased a new stake in shares of Rayonier during the third quarter worth about $227,000. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Rayonier Stock Performance

NYSE:RYN opened at $29.36 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.46 and a quick ratio of 2.04. The firm has a market capitalization of $4.36 billion, a price-to-earnings ratio of 26.21 and a beta of 1.09. The company’s 50-day moving average is $32.44 and its two-hundred day moving average is $31.46. Rayonier Inc. has a 1-year low of $24.84 and a 1-year high of $35.29.

Rayonier (NYSE:RYN) last posted its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. Rayonier had a net margin of 15.92% and a return on equity of 3.21%. The company had revenue of $168.10 million for the quarter, compared to analyst estimates of $190.04 million. During the same period in the previous year, the business posted $0.01 EPS. Rayonier’s revenue was down 6.1% on a year-over-year basis. Analysts forecast that Rayonier Inc. will post 0.48 EPS for the current year.

Rayonier Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a $0.285 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.14 annualized dividend and a dividend yield of 3.88%. Rayonier’s dividend payout ratio is currently 101.79%.

Analyst Upgrades and Downgrades

RYN has been the subject of several research reports. StockNews.com raised shares of Rayonier from a “hold” rating to a “buy” rating in a research note on Thursday. TheStreet raised shares of Rayonier from a “c+” rating to a “b-” rating in a research note on Friday, February 16th. Finally, Royal Bank of Canada upped their price objective on shares of Rayonier from $34.00 to $35.00 and gave the company a “sector perform” rating in a research note on Friday, February 2nd. Two analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $34.50.

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.