Kopernik Global Investors LLC Purchases Shares of 2,186,503 Rayonier Inc. $RYN

Kopernik Global Investors LLC acquired a new stake in Rayonier Inc. (NYSE:RYN) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,186,503 shares of the real estate investment trust’s stock, valued at approximately $45,086,000. Rayonier accounts for approximately 3.1% of Kopernik Global Investors LLC’s investment portfolio, making the stock its 12th largest position. Kopernik Global Investors LLC owned approximately 0.73% of Rayonier at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of RYN. Vanguard Group Inc. increased its holdings in Rayonier by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 21,174,792 shares of the real estate investment trust’s stock worth $458,434,000 after buying an additional 444,503 shares during the period. Norges Bank acquired a new stake in Rayonier during the 4th quarter valued at approximately $313,806,000. Cohen & Steers Inc. lifted its stake in Rayonier by 5.6% during the 4th quarter. Cohen & Steers Inc. now owns 13,548,815 shares of the real estate investment trust’s stock valued at $293,332,000 after acquiring an additional 717,021 shares during the period. Fuller & Thaler Asset Management Inc. lifted its stake in Rayonier by 232.2% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 5,647,156 shares of the real estate investment trust’s stock valued at $122,261,000 after acquiring an additional 3,947,226 shares during the period. Finally, Pictet Asset Management Holding SA boosted its holdings in shares of Rayonier by 42.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 4,925,463 shares of the real estate investment trust’s stock valued at $101,563,000 after acquiring an additional 1,463,118 shares during the last quarter. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

Rayonier Price Performance

Rayonier stock opened at $21.51 on Thursday. The stock has a market capitalization of $6.47 billion, a P/E ratio of 7.12 and a beta of 0.88. The company’s fifty day moving average price is $21.08 and its 200 day moving average price is $21.52. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.21 and a current ratio of 2.53. Rayonier Inc. has a 1 year low of $19.49 and a 1 year high of $27.33.

Rayonier (NYSE:RYN) last posted its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The company had revenue of $276.79 million during the quarter, compared to analysts’ expectations of $280.92 million. Rayonier had a net margin of 68.61% and a return on equity of 3.61%. The firm’s revenue for the quarter was up 233.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.02) earnings per share. As a group, equities research analysts anticipate that Rayonier Inc. will post 0.36 earnings per share for the current fiscal year.

Rayonier Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Wednesday, September 16th. Rayonier’s dividend payout ratio is 34.44%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on RYN shares. Citigroup cut their price objective on shares of Rayonier from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. Wall Street Zen raised shares of Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, April 18th. Royal Bank Of Canada set a $24.00 price target on Rayonier in a research report on Thursday, April 16th. BMO Capital Markets reduced their price objective on Rayonier from $26.00 to $25.00 and set a “market perform” rating for the company in a research note on Tuesday, May 19th. Finally, Truist Financial reduced their price objective on Rayonier from $25.00 to $24.00 and set a “hold” rating for the company in a research note on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Rayonier has an average rating of “Hold” and an average price target of $24.60.

About Rayonier

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.