Kopernik Global Investors LLC Takes Position in Rayonier Inc. $RYN

Kopernik Global Investors LLC purchased a new position in Rayonier Inc. (NYSE:RYN) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,186,503 shares of the real estate investment trust’s stock, valued at approximately $45,086,000. Rayonier comprises approximately 3.1% of Kopernik Global Investors LLC’s portfolio, making the stock its 12th largest position.

Several other large investors have also recently made changes to their positions in RYN. Norges Bank acquired a new position in Rayonier in the 4th quarter valued at $313,806,000. Deprince Race & Zollo Inc. acquired a new stake in Rayonier during the 1st quarter worth $85,771,000. Fuller & Thaler Asset Management Inc. boosted 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 worth $122,261,000 after purchasing an additional 3,947,226 shares during the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of Rayonier by 42.3% during the first quarter. Pictet Asset Management Holding SA now owns 4,925,463 shares of the real estate investment trust’s stock worth $101,563,000 after buying an additional 1,463,118 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Rayonier by 111.4% during the first quarter. Bank of New York Mellon Corp now owns 2,573,559 shares of the real estate investment trust’s stock worth $53,067,000 after buying an additional 1,356,361 shares in the last quarter. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

Rayonier Price Performance

Shares of RYN opened at $21.51 on Thursday. The firm has a 50-day simple moving average of $21.08 and a two-hundred day simple moving average of $21.52. The stock has a market cap of $6.47 billion, a PE ratio of 7.12 and a beta of 0.88. Rayonier Inc. has a 1-year low of $19.49 and a 1-year high of $27.33. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.53 and a quick ratio of 2.21.

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

Rayonier Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on RYN shares. Royal Bank Of Canada set a $24.00 price target on shares of Rayonier in a research note on Thursday, April 16th. Weiss Ratings cut shares of Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. Wall Street Zen raised shares of Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, April 18th. Truist Financial cut their price objective on shares of Rayonier from $25.00 to $24.00 and set a “hold” rating for the company in a report on Wednesday, July 15th. Finally, BMO Capital Markets decreased their target price on shares of Rayonier from $26.00 to $25.00 and set a “market perform” rating on the stock in a research note on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price 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.