Wilmington Savings Fund Society FSB Makes New $351,000 Investment in Rayonier Inc. (NYSE:RYN)

Wilmington Savings Fund Society FSB purchased a new stake in Rayonier Inc. (NYSE:RYN) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 10,902 shares of the real estate investment trust’s stock, valued at approximately $351,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RYN. Assenagon Asset Management S.A. raised its stake in shares of Rayonier by 20.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 11,347 shares of the real estate investment trust’s stock valued at $330,000 after acquiring an additional 1,956 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Rayonier by 1.1% in the second quarter. Nisa Investment Advisors LLC now owns 97,820 shares of the real estate investment trust’s stock worth $2,846,000 after buying an additional 1,029 shares during the period. Fifth Third Bancorp grew its stake in shares of Rayonier by 83.7% in the second 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 in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Rayonier by 0.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,240,608 shares of the real estate investment trust’s stock valued at $36,089,000 after buying an additional 10,536 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its position in Rayonier by 2.3% during the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 37,001 shares of the real estate investment trust’s stock worth $1,076,000 after acquiring an additional 841 shares in the last quarter. 89.12% of the stock is owned by institutional investors and hedge funds.

Rayonier Stock Performance

Shares of RYN opened at $28.55 on Tuesday. Rayonier Inc. has a 52-week low of $27.40 and a 52-week 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 firm has a market cap of $4.25 billion, a price-to-earnings ratio of 26.93 and a beta of 1.02. The business’s 50 day moving average is $31.11 and its two-hundred day moving average is $30.47.

Rayonier (NYSE:RYN) last posted 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 company had revenue of $195.00 million for the quarter, compared to the consensus estimate of $211.21 million. Rayonier had a net margin of 15.84% and a return on equity of 2.95%. The company’s revenue was down 3.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.13 earnings per share. Analysts forecast that Rayonier Inc. will post 0.38 EPS for the current fiscal year.

Rayonier declared that its Board of Directors has approved a stock repurchase program on Monday, December 2nd that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the real estate investment trust to buy up to 6.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Rayonier Increases Dividend

The company also recently disclosed a special dividend, which will be paid on Thursday, January 30th. Investors of record on Thursday, December 12th will be issued a $1.80 dividend. This is a positive change from Rayonier’s previous special dividend of $0.20. Rayonier’s payout ratio is currently 107.55%.

Wall Street Analyst Weigh In

RYN has been the topic of a number of recent research reports. StockNews.com raised shares of Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Truist Financial boosted their price objective on shares of Rayonier from $31.00 to $32.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th.

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.