XTX Topco Ltd Acquires New Position in Rayonier Inc. (NYSE:RYN)

XTX Topco Ltd acquired a new stake in Rayonier Inc. (NYSE:RYN) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 9,662 shares of the real estate investment trust’s stock, valued at approximately $311,000.

A number of other institutional investors have also recently made changes to their positions in the business. State Street Corp grew its holdings in shares of Rayonier by 2.5% in the third quarter. State Street Corp now owns 4,279,512 shares of the real estate investment trust’s stock valued at $137,715,000 after purchasing an additional 104,464 shares in the last quarter. Stifel Financial Corp grew its holdings in shares of Rayonier by 209.6% in the third quarter. Stifel Financial Corp now owns 57,289 shares of the real estate investment trust’s stock valued at $1,843,000 after purchasing an additional 38,783 shares in the last quarter. Quantinno Capital Management LP acquired a new position in shares of Rayonier in the third quarter valued at approximately $285,000. Holocene Advisors LP acquired a new position in shares of Rayonier in the third quarter valued at approximately $2,400,000. Finally, Centiva Capital LP grew its holdings in shares of Rayonier by 534.6% in the third quarter. Centiva Capital LP now owns 49,365 shares of the real estate investment trust’s stock valued at $1,589,000 after purchasing an additional 41,586 shares in the last quarter. Institutional investors and hedge funds own 89.12% of the company’s stock.

Wall Street Analysts Forecast Growth

RYN has been the subject of a number of recent research reports. Truist Financial lifted their price target on shares of Rayonier from $31.00 to $32.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th. StockNews.com upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th.

Rayonier Stock Down 1.7 %

Shares of Rayonier stock opened at $27.79 on Wednesday. Rayonier Inc. has a 52-week low of $27.40 and a 52-week high of $35.29. The company has a 50 day moving average of $31.03 and a 200 day moving average of $30.45. The company has a quick ratio of 1.85, a current ratio of 1.99 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $4.14 billion, a P/E ratio of 26.22 and a beta of 1.02.

Rayonier (NYSE:RYN) last issued its quarterly earnings data 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). The company had revenue of $195.00 million for the quarter, compared to analysts’ expectations of $211.21 million. Rayonier had a return on equity of 2.95% and a net margin of 15.84%. The firm’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.13 EPS. As a group, research analysts forecast that Rayonier Inc. will post 0.38 EPS for the current fiscal year.

Rayonier Increases Dividend

The business also recently disclosed a special dividend, which will be paid on Thursday, January 30th. Stockholders of record on Thursday, December 12th will be given 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 currently 107.55%.

Rayonier announced that its Board of Directors has authorized a stock repurchase program on Monday, December 2nd that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the real estate investment trust to buy up to 6.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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.