Fox Run Management L.L.C. Purchases New Position in Rayonier Inc. $RYN

Fox Run Management L.L.C. bought a new stake in Rayonier Inc. (NYSE:RYN) in the 3rd quarter, Holdings Channel.com reports. The fund bought 35,763 shares of the real estate investment trust’s stock, valued at approximately $949,000.

Several other hedge funds also recently bought and sold shares of the company. Allworth Financial LP increased its position in shares of Rayonier by 213.7% in the 2nd quarter. Allworth Financial LP now owns 1,217 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 829 shares in the last quarter. Hartford Financial Management Inc. acquired a new position in Rayonier in the third quarter valued at about $31,000. Caldwell Trust Co bought a new position in shares of Rayonier during the 2nd quarter valued at about $39,000. GAMMA Investing LLC lifted its holdings in shares of Rayonier by 138.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,696 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 986 shares in the last quarter. Finally, Blue Trust Inc. grew its position in shares of Rayonier by 55.5% in the 3rd quarter. Blue Trust Inc. now owns 1,913 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 683 shares during the period. 89.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Rayonier in a report on Monday, December 29th. Raymond James Financial raised shares of Rayonier from an “outperform” rating to a “strong-buy” rating and increased their price objective for the stock from $26.00 to $28.00 in a research report on Friday, February 13th. Truist Financial cut their price objective on shares of Rayonier from $28.00 to $26.00 and set a “hold” rating on the stock in a research report on Tuesday, January 6th. Royal Bank Of Canada lifted their price target on Rayonier from $25.00 to $26.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 17th. Finally, Citigroup cut their price target on Rayonier from $27.00 to $24.00 and set a “neutral” rating on the stock in a report on Wednesday, November 12th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $26.00.

Rayonier Stock Up 0.9%

Shares of RYN stock opened at $21.53 on Friday. The firm’s fifty day moving average price is $22.67 and its two-hundred day moving average price is $23.76. The company has a current ratio of 3.26, a quick ratio of 3.39 and a debt-to-equity ratio of 0.38. Rayonier Inc. has a 1 year low of $20.75 and a 1 year high of $28.31. The firm has a market capitalization of $3.48 billion, a P/E ratio of 7.06 and a beta of 0.98.

Rayonier (NYSE:RYN) last posted its quarterly earnings data on Wednesday, February 11th. The real estate investment trust reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.08. The company had revenue of $117.50 million during the quarter, compared to the consensus estimate of $108.71 million. Rayonier had a net margin of 97.94% and a return on equity of 4.09%. The company’s quarterly revenue was down 24.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.24 EPS. On average, equities analysts predict that Rayonier Inc. will post 0.55 EPS for the current fiscal year.

Rayonier Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date is Tuesday, March 17th. Rayonier’s dividend payout ratio (DPR) is currently 35.74%.

Rayonier Profile

Rayonier, Inc (NYSE: RYN) is a publicly traded real estate investment trust specializing in timberland ownership and management. The company’s core business revolves around sustainably growing, harvesting, and marketing timber and timber-related products. Rayonier’s timberland portfolio encompasses approximately 2.7 million acres across the United States and New Zealand, focusing on softwood and hardwood fiber for use in paper, packaging and building materials.

Rayonier operates through two primary segments: Timber and Real Estate Solutions.