Aristides Capital LLC Takes Position in Rayonier Inc. $RYN

Aristides Capital LLC purchased a new position in shares of Rayonier Inc. (NYSE:RYN) during the first quarter, Holdings Channel.com reports. The fund purchased 49,882 shares of the real estate investment trust’s stock, valued at approximately $1,029,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. grew its stake in shares of Rayonier by 65.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,581 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 627 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new position in shares of Rayonier in the fourth quarter valued at $34,000. Bayban acquired a new stake in shares of Rayonier during the 1st quarter valued at $36,000. Hartford Financial Management Inc. lifted its position in shares of Rayonier by 49.7% during the 4th 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. Finally, Whittier Trust Co. boosted its stake in shares of Rayonier by 74.0% during the 1st quarter. Whittier Trust Co. now owns 2,279 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 969 shares in the last quarter. 89.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Rayonier Stock Performance

Shares of NYSE RYN opened at $21.34 on Friday. The business has a fifty day simple moving average of $21.10 and a 200 day simple moving average of $21.52. The company has a current ratio of 2.53, a quick ratio of 2.21 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $6.42 billion, a price-to-earnings ratio of 7.07 and a beta of 0.88. Rayonier Inc. has a one year low of $19.49 and a one year high of $27.33.

Rayonier (NYSE:RYN) last issued its earnings results 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. Rayonier had a return on equity of 3.61% and a net margin of 68.61%.The firm had revenue of $276.79 million during the quarter, compared to analysts’ expectations of $280.92 million. During the same period last year, the business earned ($0.02) earnings per share. Rayonier’s quarterly revenue was up 233.9% compared to the same quarter last year. Sell-side analysts expect that Rayonier Inc. will post 0.36 EPS for the current year.

Rayonier Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 4.9%. The ex-dividend date is Wednesday, September 16th. Rayonier’s dividend payout ratio is currently 34.44%.

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.