Impax Asset Management Group plc Purchases 1,004,357 Shares of Rayonier Inc. (NYSE:RYN)

Impax Asset Management Group plc boosted its position in Rayonier Inc. (NYSE:RYN) by 17.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,815,188 shares of the real estate investment trust’s stock after buying an additional 1,004,357 shares during the quarter. Impax Asset Management Group plc owned approximately 4.58% of Rayonier worth $197,226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. CENTRAL TRUST Co boosted its stake in shares of Rayonier by 5.5% in the 1st quarter. CENTRAL TRUST Co now owns 6,433 shares of the real estate investment trust’s stock valued at $214,000 after purchasing an additional 336 shares in the last quarter. M&T Bank Corp boosted its position in Rayonier by 4.4% during the fourth quarter. M&T Bank Corp now owns 8,102 shares of the real estate investment trust’s stock valued at $271,000 after buying an additional 344 shares during the period. GAMMA Investing LLC boosted its position in Rayonier by 53.5% during the second quarter. GAMMA Investing LLC now owns 1,079 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 376 shares during the period. Retirement Systems of Alabama grew its stake in shares of Rayonier by 0.3% during the first quarter. Retirement Systems of Alabama now owns 171,307 shares of the real estate investment trust’s stock valued at $5,694,000 after buying an additional 437 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in shares of Rayonier by 0.5% in the first quarter. State of Alaska Department of Revenue now owns 84,739 shares of the real estate investment trust’s stock worth $2,815,000 after buying an additional 439 shares during the period. 89.12% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. StockNews.com upgraded Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, August 17th. Truist Financial cut their price target on shares of Rayonier from $34.00 to $31.00 and set a “hold” rating on the stock in a report on Tuesday, July 16th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $34.00 price target on shares of Rayonier in a research report on Friday, June 14th.

Rayonier Trading Up 0.8 %

NYSE RYN traded up $0.23 during trading on Friday, hitting $30.86. The company had a trading volume of 5,320 shares, compared to its average volume of 597,186. The company’s fifty day moving average is $29.52 and its 200-day moving average is $30.74. Rayonier Inc. has a one year low of $24.84 and a one year high of $35.29. The company has a current ratio of 1.98, a quick ratio of 1.78 and a debt-to-equity ratio of 0.75. The company has a market cap of $4.60 billion, a price-to-earnings ratio of 27.36 and a beta of 1.04.

Rayonier (NYSE:RYN) last released its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.12). Rayonier had a return on equity of 3.00% and a net margin of 14.78%. The company had revenue of $173.60 million during the quarter, compared to the consensus estimate of $218.86 million. During the same period in the previous year, the company earned $0.05 earnings per share. Rayonier’s quarterly revenue was down 16.9% on a year-over-year basis. On average, sell-side analysts predict that Rayonier Inc. will post 0.41 earnings per share for the current year.

Rayonier Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend is Monday, September 16th. Rayonier’s payout ratio is presently 101.79%.

Rayonier Profile

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.