IQ EQ FUND MANAGEMENT IRELAND Ltd Grows Position in Rayonier Inc. (NYSE:RYN)

IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in Rayonier Inc. (NYSE:RYN) by 2.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,001 shares of the real estate investment trust’s stock after purchasing an additional 841 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Rayonier were worth $1,076,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Advisors Asset Management Inc. purchased a new stake in shares of Rayonier during the 1st quarter valued at about $26,000. GAMMA Investing LLC raised its holdings in shares of 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 buying an additional 376 shares during the period. Fifth Third Bancorp raised its holdings in shares of Rayonier by 83.7% during the 2nd quarter. Fifth Third Bancorp now owns 1,449 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 660 shares during the period. Covestor Ltd raised its holdings in shares of Rayonier by 488.6% during the 1st quarter. Covestor Ltd now owns 1,554 shares of the real estate investment trust’s stock valued at $52,000 after buying an additional 1,290 shares during the period. Finally, Larson Financial Group LLC purchased a new stake in shares of Rayonier during the 1st quarter valued at about $62,000. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on RYN. Royal Bank of Canada reiterated a “sector perform” rating and set a $34.00 target price on shares of Rayonier in a report on Friday, June 14th. Truist Financial dropped their target price on Rayonier from $34.00 to $31.00 and set a “hold” rating on the stock in a report on Tuesday, July 16th. Finally, StockNews.com upgraded Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, August 17th.

Rayonier Stock Up 0.6 %

NYSE RYN traded up $0.18 during mid-day trading on Thursday, reaching $30.64. 515,295 shares of the company’s stock traded hands, compared to its average volume of 602,772. Rayonier Inc. has a 1-year low of $24.84 and a 1-year high of $35.29. The company has a fifty day simple moving average of $29.40 and a 200-day simple moving average of $30.82. The company has a current ratio of 1.98, a quick ratio of 1.78 and a debt-to-equity ratio of 0.75. The company has a market cap of $4.56 billion, a price-to-earnings ratio of 27.36 and a beta of 1.05.

Rayonier (NYSE:RYN) last issued 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 analyst estimates of $218.86 million. During the same quarter last year, the business earned $0.05 EPS. Rayonier’s revenue for the quarter was down 16.9% compared to the same quarter last year. As a group, equities research analysts expect that Rayonier Inc. will post 0.41 EPS for the current year.

Rayonier Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a $0.285 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.14 annualized dividend and a dividend yield of 3.72%. Rayonier’s payout ratio is 101.79%.

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.