Fox Run Management L.L.C. Takes $949,000 Position in Rayonier Inc. $RYN

Fox Run Management L.L.C. bought a new position in Rayonier Inc. (NYSE:RYN) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 35,763 shares of the real estate investment trust’s stock, valued at approximately $949,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MAI Capital Management raised its position in Rayonier by 98.5% in the 3rd quarter. MAI Capital Management now owns 62,878 shares of the real estate investment trust’s stock valued at $1,669,000 after purchasing an additional 31,194 shares during the last quarter. Cary Street Partners Financial LLC increased its stake in shares of Rayonier by 1.8% in the third quarter. Cary Street Partners Financial LLC now owns 28,345 shares of the real estate investment trust’s stock valued at $752,000 after buying an additional 510 shares in the last quarter. Optiver Holding B.V. acquired a new stake in shares of Rayonier in the third quarter valued at $86,000. EDENTREE ASSET MANAGEMENT Ltd raised its holdings in shares of Rayonier by 20.3% in the third quarter. EDENTREE ASSET MANAGEMENT Ltd now owns 41,815 shares of the real estate investment trust’s stock valued at $1,109,000 after buying an additional 7,058 shares during the last quarter. Finally, Drucker Wealth 3.0 LLC acquired a new position in Rayonier during the 3rd quarter worth about $422,000. 89.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Truist Financial dropped their target price on shares of Rayonier from $28.00 to $26.00 and set a “hold” rating for the company in a research note on Tuesday, January 6th. Citigroup dropped their price objective on shares of Rayonier from $27.00 to $24.00 and set a “neutral” rating for the company in a research report on Wednesday, November 12th. Raymond James Financial upgraded Rayonier from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $26.00 to $28.00 in a research report on Friday, February 13th. Weiss Ratings reissued a “hold (c-)” rating on shares of Rayonier in a research note on Monday, December 29th. Finally, Royal Bank Of Canada boosted their target price on Rayonier from $25.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Rayonier presently has a consensus rating of “Hold” and a consensus target price of $26.00.

Rayonier Trading Up 0.9%

Shares of NYSE RYN opened at $21.53 on Friday. Rayonier Inc. has a fifty-two week low of $20.75 and a fifty-two week high of $28.31. The firm has a market capitalization of $3.48 billion, a P/E ratio of 7.06 and a beta of 0.98. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.26 and a quick ratio of 3.39. The company’s 50 day simple moving average is $22.67 and its 200 day simple moving average is $23.76.

Rayonier (NYSE:RYN) last issued its earnings results on Wednesday, February 11th. The real estate investment trust reported $0.20 EPS for the quarter, beating the consensus estimate of $0.12 by $0.08. The company had revenue of $117.50 million during the quarter, compared to analysts’ expectations of $108.71 million. Rayonier had a net margin of 97.94% and a return on equity of 4.09%. The business’s revenue for the quarter was down 24.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 EPS. On average, analysts predict that Rayonier Inc. will post 0.55 EPS for the current year.

Rayonier Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $1.04 annualized dividend and a yield of 4.8%. Rayonier’s dividend payout ratio is presently 35.74%.

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.