Louisiana State Employees Retirement System Takes Position in Rayonier Inc. (NYSE:RYN)

Louisiana State Employees Retirement System bought a new stake in Rayonier Inc. (NYSE:RYN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 38,300 shares of the real estate investment trust’s stock, valued at approximately $1,280,000.

A number of other large investors also recently made changes to their positions in RYN. State of Alaska Department of Revenue increased its holdings in Rayonier by 13.0% in the third quarter. State of Alaska Department of Revenue now owns 86,448 shares of the real estate investment trust’s stock worth $2,459,000 after buying an additional 9,942 shares during the last quarter. Bfsg LLC increased its holdings in Rayonier by 12.0% in the third quarter. Bfsg LLC now owns 74,819 shares of the real estate investment trust’s stock worth $2,129,000 after buying an additional 7,997 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in Rayonier by 3.7% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 18,845 shares of the real estate investment trust’s stock worth $536,000 after buying an additional 671 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in Rayonier by 85.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 130,000 shares of the real estate investment trust’s stock worth $3,700,000 after buying an additional 60,000 shares during the last quarter. Finally, Raymond James & Associates increased its holdings in Rayonier by 1.1% in the third quarter. Raymond James & Associates now owns 60,135 shares of the real estate investment trust’s stock worth $1,711,000 after buying an additional 660 shares during the last quarter. Institutional investors and hedge funds own 89.12% of the company’s stock.

Rayonier Trading Up 0.5 %

Shares of RYN stock opened at $30.49 on Tuesday. Rayonier Inc. has a 12 month low of $24.84 and a 12 month high of $35.29. The company has a quick ratio of 2.04, a current ratio of 2.26 and a debt-to-equity ratio of 0.73. The company has a market cap of $4.53 billion, a PE ratio of 26.06 and a beta of 1.07. The business’s 50 day moving average is $32.97 and its two-hundred day moving average is $31.36.

Rayonier (NYSE:RYN) last posted its quarterly earnings data on Wednesday, January 31st. The real estate investment trust reported $0.17 earnings per share for the quarter, meeting the consensus estimate of $0.17. Rayonier had a return on equity of 2.89% and a net margin of 16.41%. The company had revenue of $467.40 million during the quarter, compared to analysts’ expectations of $235.94 million. During the same period in the prior year, the business earned $0.11 earnings per share. Equities analysts predict that Rayonier Inc. will post 0.48 EPS 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 given a $0.285 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.14 annualized dividend and a dividend yield of 3.74%. Rayonier’s dividend payout ratio is 97.44%.

Wall Street Analysts Forecast Growth

RYN has been the topic of a number of research reports. Royal Bank of Canada increased their price objective on Rayonier from $34.00 to $35.00 and gave the stock a “sector perform” rating in a report on Friday, February 2nd. TheStreet upgraded Rayonier from a “c+” rating to a “b-” rating in a report on Friday, February 16th. Truist Financial increased their price target on Rayonier from $33.00 to $34.00 and gave the company a “hold” rating in a report on Thursday, January 4th. Finally, StockNews.com upgraded Rayonier from a “sell” rating to a “hold” rating in a report on Monday, February 26th. Three research analysts have rated the stock with a hold rating, According to MarketBeat.com, Rayonier has a consensus rating of “Hold” and an average price target 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 December 31, 2023, Rayonier owned or leased under long-term agreements approximately 2.7 million acres of timberlands located in the U.S.