Raymond James & Associates Sells 1,979 Shares of Rayonier Inc. (NYSE:RYN)

Raymond James & Associates lessened its holdings in shares of Rayonier Inc. (NYSE:RYN) by 3.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,156 shares of the real estate investment trust’s stock after selling 1,979 shares during the period. Raymond James & Associates’ holdings in Rayonier were worth $1,943,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Rayonier by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 21,486,063 shares of the real estate investment trust’s stock valued at $643,938,000 after buying an additional 418,687 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Rayonier by 2.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,837,099 shares of the real estate investment trust’s stock valued at $560,003,000 after buying an additional 322,755 shares in the last quarter. BlackRock Inc. raised its position in shares of Rayonier by 0.7% in the 1st quarter. BlackRock Inc. now owns 13,769,910 shares of the real estate investment trust’s stock worth $566,221,000 after purchasing an additional 89,742 shares during the last quarter. Norges Bank purchased a new position in shares of Rayonier in the 4th quarter worth about $376,137,000. Finally, State Street Corp raised its position in shares of Rayonier by 2.3% in the 1st quarter. State Street Corp now owns 4,134,483 shares of the real estate investment trust’s stock worth $137,513,000 after purchasing an additional 92,082 shares during the last quarter. Institutional investors own 89.12% of the company’s stock.

Rayonier Price Performance

Shares of NYSE:RYN opened at $30.30 on Thursday. Rayonier Inc. has a fifty-two week low of $24.84 and a fifty-two week high of $35.29. The business has a 50-day simple moving average of $33.12 and a two-hundred day simple moving average of $31.28. The company has a debt-to-equity ratio of 0.73, a quick ratio of 2.04 and a current ratio of 2.26. The firm has a market cap of $4.50 billion, a price-to-earnings ratio of 25.90 and a beta of 1.07.

Rayonier (NYSE:RYN) last issued its earnings results on Wednesday, January 31st. The real estate investment trust reported $0.17 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.17. Rayonier had a return on equity of 2.89% and a net margin of 16.41%. The business had revenue of $467.40 million during the quarter, compared to analyst estimates of $235.94 million. During the same quarter in the previous year, the firm earned $0.11 EPS. On average, analysts expect that Rayonier Inc. will post 0.48 earnings per share for the current year.

Rayonier Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 3.76%. The ex-dividend date of this dividend was Wednesday, March 13th. Rayonier’s dividend payout ratio (DPR) is presently 97.44%.

Analyst Ratings Changes

Several research firms have recently issued reports on RYN. Truist Financial lifted their price target on Rayonier from $33.00 to $34.00 and gave the stock a “hold” rating in a research report on Thursday, January 4th. StockNews.com raised Rayonier from a “sell” rating to a “hold” rating in a research report on Monday, February 26th. TheStreet raised Rayonier from a “c+” rating to a “b-” rating in a research report on Friday, February 16th. Finally, Royal Bank of Canada lifted their price target on Rayonier from $34.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Three research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Rayonier presently has an average rating of “Hold” and a consensus target price of $34.50.

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 September 30, 2023, Rayonier owned or leased under long-term agreements approximately 2.8 million acres of timberlands located in the U.S.