Entropy Technologies LP Takes Position in Rayonier Inc. (NYSE:RYN)

Entropy Technologies LP purchased a new position in shares of Rayonier Inc. (NYSE:RYN) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 10,490 shares of the real estate investment trust’s stock, valued at approximately $338,000.

A number of other hedge funds have also recently added to or reduced their stakes in RYN. Allspring Global Investments Holdings LLC boosted its position in Rayonier by 525.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,551 shares of the real estate investment trust’s stock valued at $85,000 after buying an additional 2,143 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in Rayonier by 4.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 158,812 shares of the real estate investment trust’s stock worth $5,282,000 after purchasing an additional 7,267 shares during the period. Vanguard Group Inc. lifted its position in Rayonier by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 20,802,946 shares of the real estate investment trust’s stock valued at $691,490,000 after purchasing an additional 67,646 shares during the period. Covestor Ltd boosted its stake in shares of Rayonier by 488.6% in the 1st quarter. Covestor Ltd now owns 1,554 shares of the real estate investment trust’s stock valued at $52,000 after purchasing an additional 1,290 shares during the last quarter. Finally, Herr Investment Group LLC raised its stake in shares of Rayonier by 4.6% during the first quarter. Herr Investment Group LLC now owns 14,078 shares of the real estate investment trust’s stock worth $468,000 after buying an additional 621 shares during the last quarter. Institutional investors own 89.12% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Truist Financial lifted their target price on shares of Rayonier from $31.00 to $32.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. StockNews.com raised shares of Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday.

Insider Buying and Selling at Rayonier

In related news, Director V. Larkin Martin sold 10,011 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $30.57, for a total transaction of $306,036.27. Following the completion of the transaction, the director now directly owns 40,168 shares in the company, valued at approximately $1,227,935.76. This trade represents a 19.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.83% of the company’s stock.

Rayonier Trading Up 0.8 %

NYSE RYN opened at $29.97 on Friday. Rayonier Inc. has a one year low of $27.40 and a one year high of $35.29. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.99 and a quick ratio of 1.78. The firm has a market cap of $4.47 billion, a P/E ratio of 28.27 and a beta of 1.05. The stock’s 50-day moving average is $31.46 and its 200-day moving average is $30.31.

Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). Rayonier had a net margin of 15.84% and a return on equity of 2.95%. The company had revenue of $195.00 million during the quarter, compared to the consensus estimate of $211.21 million. During the same period in the previous year, the firm posted $0.13 EPS. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. Sell-side analysts anticipate that Rayonier Inc. will post 0.38 earnings per share for the current fiscal year.

Rayonier Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend is Tuesday, December 17th. Rayonier’s dividend payout ratio (DPR) is presently 107.55%.

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.