Aristotle Atlantic Partners LLC Invests $5.69 Million in Rayonier Inc. $RYN

Aristotle Atlantic Partners LLC purchased a new stake in shares of 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 purchased 275,794 shares of the real estate investment trust’s stock, valued at approximately $5,687,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Eurizon Capital SGR S.p.A. purchased a new stake in Rayonier in the fourth quarter worth about $34,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Rayonier by 65.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,581 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 627 shares in the last quarter. Bayban bought a new position in shares of Rayonier during the first quarter valued at approximately $36,000. Hartford Financial Management Inc. increased its holdings in 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 buying an additional 575 shares during the period. Finally, Whittier Trust Co. increased its holdings in Rayonier by 74.0% during the first quarter. Whittier Trust Co. now owns 2,279 shares of the real estate investment trust’s stock valued at $47,000 after buying an additional 969 shares during the period. 89.12% of the stock is currently owned by institutional investors.

Rayonier Stock Performance

Shares of RYN stock opened at $21.59 on Friday. Rayonier Inc. has a 12-month low of $19.49 and a 12-month high of $27.33. The business’s fifty day simple moving average is $21.14 and its 200-day simple moving average is $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 company has a market cap of $6.49 billion, a PE ratio of 7.15 and a beta of 0.88.

Rayonier (NYSE:RYN) last posted its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter last year, the firm earned ($0.02) EPS. The business’s quarterly revenue was up 233.9% on a year-over-year basis. Analysts expect that Rayonier Inc. will post 0.36 earnings per share for the current fiscal year.

Rayonier Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Wednesday, September 16th. Rayonier’s dividend payout ratio (DPR) is currently 34.44%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. BMO Capital Markets reduced their price objective on shares of Rayonier from $26.00 to $25.00 and set a “market perform” rating for the company in a research note on Tuesday, May 19th. Truist Financial dropped their target price on Rayonier from $25.00 to $24.00 and set a “hold” rating on the stock in a research report on Wednesday, July 15th. Wall Street Zen upgraded Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, April 18th. Royal Bank Of Canada set a $24.00 price target on Rayonier in a research report on Thursday, April 16th. Finally, Weiss Ratings lowered Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Rayonier currently has an average rating of “Hold” and a consensus target price of $24.60.

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.