22,500 Shares in Rayonier Inc. (NYSE:RYN) Bought by Wolverine Asset Management LLC

Wolverine Asset Management LLC acquired a new stake in Rayonier Inc. (NYSE:RYN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,500 shares of the real estate investment trust’s stock, valued at approximately $752,000.

Several other hedge funds and other institutional investors have also modified their holdings of RYN. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Rayonier during the 3rd quarter valued at about $914,000. J.P. Morgan Private Wealth Advisors LLC increased its holdings in Rayonier by 66.2% in the third quarter. J.P. Morgan Private Wealth Advisors LLC now owns 228,879 shares of the real estate investment trust’s stock worth $6,514,000 after purchasing an additional 91,141 shares in the last quarter. Quadrature Capital Ltd bought a new stake in Rayonier in the third quarter worth approximately $393,000. Nisa Investment Advisors LLC grew its position in Rayonier by 1.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 102,791 shares of the real estate investment trust’s stock worth $3,434,000 after buying an additional 1,435 shares in the last quarter. Finally, Natixis Advisors L.P. grew its stake in shares of Rayonier by 100.2% in the 3rd quarter. Natixis Advisors L.P. now owns 23,395 shares of the real estate investment trust’s stock worth $666,000 after buying an additional 11,710 shares during the last quarter. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

Rayonier Price Performance

RYN opened at $30.12 on Friday. The company’s 50-day moving average price is $32.80 and its 200 day moving average price is $31.37. Rayonier Inc. has a fifty-two week low of $24.84 and a fifty-two week high of $35.29. The firm has a market cap of $4.48 billion, a price-to-earnings ratio of 25.74 and a beta of 1.07. The company has a quick ratio of 2.04, a current ratio of 2.26 and a debt-to-equity ratio of 0.73.

Rayonier (NYSE:RYN) last posted its earnings results on Wednesday, January 31st. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.17. The business had revenue of $467.40 million for the quarter, compared to analyst estimates of $235.94 million. Rayonier had a net margin of 16.41% and a return on equity of 2.89%. During the same period last year, the business posted $0.11 EPS. As a group, sell-side analysts expect that Rayonier Inc. will post 0.48 earnings per share for the current year.

Rayonier Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend was Wednesday, March 13th. Rayonier’s dividend payout ratio is presently 97.44%.

Analysts Set New Price Targets

Several brokerages have issued reports on RYN. StockNews.com upgraded Rayonier from a “sell” rating to a “hold” rating in a research report on Monday, February 26th. TheStreet raised shares of Rayonier from a “c+” rating to a “b-” rating in a research note on Friday, February 16th. Truist Financial boosted their price target on shares of Rayonier from $33.00 to $34.00 and gave the stock a “hold” rating in a research report on Thursday, January 4th. Finally, Royal Bank of Canada lifted their price objective on shares of Rayonier from $34.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Friday, February 2nd. Three investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $34.50.

About Rayonier

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.