Edgestream Partners L.P. Invests $732,000 in Rayonier Inc. (NYSE:RYN)

Edgestream Partners L.P. purchased a new stake in shares of Rayonier Inc. (NYSE:RYN) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 25,157 shares of the real estate investment trust’s stock, valued at approximately $732,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. acquired a new stake in shares of Rayonier during the first quarter valued at about $26,000. GAMMA Investing LLC grew its stake in Rayonier by 53.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,079 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 376 shares in the last quarter. Quest Partners LLC purchased a new stake in Rayonier during the 2nd quarter worth approximately $40,000. Fifth Third Bancorp increased its holdings in Rayonier by 83.7% during the 2nd quarter. Fifth Third Bancorp now owns 1,449 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 660 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. raised its position in shares of Rayonier by 2,272.7% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 1,566 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 1,500 shares in the last quarter. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Rayonier Stock Performance

Rayonier stock opened at $31.87 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.98 and a quick ratio of 1.78. Rayonier Inc. has a 12 month low of $24.84 and a 12 month high of $35.29. The company has a fifty day moving average price of $30.23 and a two-hundred day moving average price of $30.52. The company has a market cap of $4.74 billion, a PE ratio of 28.46 and a beta of 1.04.

Rayonier (NYSE:RYN) last announced its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.12). Rayonier had a net margin of 14.78% and a return on equity of 3.00%. The business had revenue of $173.60 million for the quarter, compared to the consensus estimate of $218.86 million. During the same period in the prior year, the company earned $0.05 EPS. Rayonier’s quarterly revenue was down 16.9% on a year-over-year basis. Research analysts expect that Rayonier Inc. will post 0.4 earnings per share for the current year.

Rayonier Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 3.58%. The ex-dividend date is Monday, September 16th. Rayonier’s dividend payout ratio (DPR) is 101.79%.

Insider Activity at Rayonier

In other Rayonier news, Director V. Larkin Martin sold 10,011 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $30.57, for a total value of $306,036.27. Following the sale, the director now directly owns 40,168 shares of the company’s stock, valued at $1,227,935.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.83% of the company’s stock.

Analysts Set New Price Targets

RYN has been the subject of a number of research analyst reports. Truist Financial dropped their price target on shares of Rayonier from $34.00 to $31.00 and set a “hold” rating for the company in a research note on Tuesday, July 16th. Royal Bank of Canada restated a “sector perform” rating and issued a $34.00 target price on shares of Rayonier in a research note on Friday, June 14th. Finally, StockNews.com raised shares of Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, August 17th.

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.