Abel Hall LLC Acquires Shares of 25,029 Rayonier Inc. $RYN

Abel Hall LLC bought a new position in Rayonier Inc. (NYSE:RYN) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 25,029 shares of the real estate investment trust’s stock, valued at approximately $516,000.

Other hedge funds also recently made changes to their positions in the company. Baker Ellis Asset Management LLC raised its holdings in Rayonier by 3.8% during the 4th quarter. Baker Ellis Asset Management LLC now owns 12,942 shares of the real estate investment trust’s stock valued at $280,000 after buying an additional 469 shares during the last quarter. Bfsg LLC increased its position in shares of Rayonier by 0.6% in the fourth quarter. Bfsg LLC now owns 78,219 shares of the real estate investment trust’s stock valued at $1,693,000 after acquiring an additional 492 shares during the period. Quarry LP increased its position in shares of Rayonier by 19.8% in the fourth quarter. Quarry LP now owns 3,012 shares of the real estate investment trust’s stock valued at $65,000 after acquiring an additional 498 shares during the period. Greenwood Gearhart Inc. raised its stake in shares of Rayonier by 4.9% during the fourth quarter. Greenwood Gearhart Inc. now owns 10,802 shares of the real estate investment trust’s stock valued at $234,000 after acquiring an additional 502 shares during the last quarter. Finally, Hartford Financial Management Inc. raised its stake in shares of Rayonier by 49.7% during the fourth quarter. Hartford Financial Management Inc. now owns 1,732 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 575 shares during the last quarter. 89.12% of the stock is owned by hedge funds and other institutional investors.

Rayonier Price Performance

Shares of NYSE RYN opened at $21.58 on Tuesday. Rayonier Inc. has a 1 year low of $19.49 and a 1 year high of $27.33. The stock has a market capitalization of $6.49 billion, a P/E ratio of 7.15 and a beta of 0.88. The company’s 50-day moving average is $20.92 and its 200 day moving average is $21.55. 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 business had revenue of $276.79 million during 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%. Rayonier’s quarterly revenue was up 233.9% compared to the same quarter last year. During the same period last year, the business posted ($0.02) earnings per share. On average, sell-side analysts expect that Rayonier Inc. will post 0.36 earnings per share for the current year.

Rayonier Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were given a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $1.04 annualized dividend and a dividend yield of 4.8%. Rayonier’s dividend payout ratio is currently 34.44%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on RYN shares. BMO Capital Markets cut their target price on Rayonier from $26.00 to $25.00 and set a “market perform” rating on the stock in a research note on Tuesday, May 19th. Truist Financial increased their price objective on Rayonier from $24.00 to $25.00 and gave the stock a “hold” rating in a report on Monday, May 11th. Weiss Ratings lowered Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 12th. Citigroup reduced their target price on Rayonier from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. Finally, Wall Street Zen upgraded Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, April 18th. 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 company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $24.80.

Insider Activity at Rayonier

In related news, CFO Wayne Wasechek sold 2,920 shares of Rayonier stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $21.17, for a total transaction of $61,816.40. Following the sale, the chief financial officer directly owned 115,530 shares in the company, valued at $2,445,770.10. The trade was a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.85% of the stock is currently owned by insiders.

Rayonier Company 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.