MAI Capital Management Purchases 31,183 Shares of Rayonier Inc. $RYN

MAI Capital Management boosted its position in Rayonier Inc. (NYSE:RYN - Free Report) by 6,224.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,684 shares of the real estate investment trust's stock after buying an additional 31,183 shares during the period. MAI Capital Management's holdings in Rayonier were worth $703,000 at the end of the most recent quarter.

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A number of other institutional investors have also bought and sold shares of RYN. Envestnet Asset Management Inc. raised its position in shares of Rayonier by 62.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 22,775 shares of the real estate investment trust's stock worth $635,000 after acquiring an additional 8,738 shares in the last quarter. Allianz Asset Management GmbH acquired a new stake in Rayonier during the first quarter worth approximately $657,000. Cetera Investment Advisers acquired a new stake in Rayonier during the first quarter worth approximately $244,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Rayonier by 10.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,703 shares of the real estate investment trust's stock worth $1,107,000 after purchasing an additional 3,633 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its stake in Rayonier by 12.1% in the first quarter. Mackenzie Financial Corp now owns 9,477 shares of the real estate investment trust's stock valued at $264,000 after buying an additional 1,024 shares during the period. Institutional investors own 89.12% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Citigroup reduced 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. Wall Street Zen raised shares of Rayonier from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Rayonier in a research note on Monday. Finally, Royal Bank Of Canada upped their price objective on shares of Rayonier from $26.00 to $27.00 and gave the company a "sector perform" rating in a report on Friday, August 8th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $27.25.

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Check Out Our Latest Analysis on RYN

Rayonier Price Performance

Shares of RYN opened at $21.89 on Wednesday. The business's fifty day moving average is $24.10 and its 200 day moving average is $24.25. Rayonier Inc. has a 12-month low of $21.06 and a 12-month high of $32.74. The company has a quick ratio of 3.38, a current ratio of 3.50 and a debt-to-equity ratio of 0.37. The stock has a market cap of $3.37 billion, a P/E ratio of 4.42 and a beta of 0.98.

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Rayonier (NYSE:RYN - Get Free Report) last announced its quarterly earnings results on Wednesday, November 5th. The real estate investment trust reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.09. Rayonier had a net margin of 68.53% and a return on equity of 3.39%. The business had revenue of $177.53 million during the quarter, compared to analyst estimates of $162.82 million. During the same quarter in the previous year, the business posted $0.12 EPS. Rayonier's quarterly revenue was up 43.0% on a year-over-year basis. Rayonier has set its Q4 2025 guidance at 0.080-0.110 EPS. FY 2025 guidance at 0.410- EPS. Sell-side analysts anticipate that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.

Rayonier Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th will be issued a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Wednesday, December 10th. Rayonier's dividend payout ratio is currently 21.63%.

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.

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