Oak Thistle LLC Makes New $467,000 Investment in Rayonier Inc. (NYSE:RYN)

Oak Thistle LLC acquired a new stake in shares of Rayonier Inc. (NYSE:RYN) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 17,903 shares of the real estate investment trust’s stock, valued at approximately $467,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its stake in shares of Rayonier by 26.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,352,691 shares of the real estate investment trust’s stock worth $107,890,000 after buying an additional 695,810 shares in the last quarter. Crossmark Global Holdings Inc. lifted its holdings in Rayonier by 2,950.1% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 296,222 shares of the real estate investment trust’s stock valued at $9,532,000 after acquiring an additional 286,510 shares during the last quarter. Millennium Management LLC lifted its holdings in Rayonier by 56.7% in the 2nd quarter. Millennium Management LLC now owns 752,847 shares of the real estate investment trust’s stock valued at $21,900,000 after acquiring an additional 272,349 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Rayonier by 119.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 457,370 shares of the real estate investment trust’s stock worth $14,718,000 after purchasing an additional 249,173 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Rayonier by 2.5% in the 3rd quarter. State Street Corp now owns 4,279,512 shares of the real estate investment trust’s stock worth $137,715,000 after purchasing an additional 104,464 shares in the last quarter. Institutional investors own 89.12% of the company’s stock.

Rayonier Stock Performance

Shares of Rayonier stock opened at $26.09 on Friday. Rayonier Inc. has a 12 month low of $24.88 and a 12 month high of $35.29. 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 stock has a market cap of $3.89 billion, a PE ratio of 24.61 and a beta of 1.04. The business has a fifty day simple moving average of $28.69 and a 200-day simple moving average of $29.88.

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

Rayonier announced that its board has initiated a share repurchase plan on Monday, December 2nd that permits the company to buyback $300.00 million in shares. This buyback authorization permits the real estate investment trust to reacquire up to 6.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Rayonier Increases Dividend

The business also recently announced a special dividend, which will be paid on Thursday, January 30th. Shareholders of record on Thursday, December 12th will be paid a dividend of $1.80 per share. This is a positive change from Rayonier’s previous special dividend of $0.20. Rayonier’s dividend payout ratio (DPR) is 107.55%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on RYN shares. StockNews.com upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Truist Financial cut their target price on Rayonier from $32.00 to $30.00 and set a “hold” rating on the stock in a research report on Monday, January 6th. Finally, Citigroup reduced their target price on Rayonier from $32.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday. Four investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $29.67.

Rayonier 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.