Mountain Hill Investment Partners Corp. bought a new stake in Rayonier Inc. (NYSE:RYN - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,000 shares of the real estate investment trust's stock, valued at approximately $261,000.
A number of other large investors have also added to or reduced their stakes in the company. KLP Kapitalforvaltning AS purchased a new position in Rayonier in the fourth quarter valued at about $731,000. Virtu Financial LLC purchased a new position in shares of Rayonier during the 4th quarter valued at approximately $226,000. Teacher Retirement System of Texas grew its position in shares of Rayonier by 43.8% during the fourth quarter. Teacher Retirement System of Texas now owns 29,283 shares of the real estate investment trust's stock worth $764,000 after buying an additional 8,918 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Rayonier in the fourth quarter worth $25,000. Finally, Xponance Inc. raised its holdings in Rayonier by 18.5% in the fourth quarter. Xponance Inc. now owns 17,732 shares of the real estate investment trust's stock valued at $463,000 after acquiring an additional 2,773 shares in the last quarter. 89.12% of the stock is owned by institutional investors and hedge funds.
Rayonier Stock Performance
Shares of RYN stock traded down $0.02 during trading hours on Friday, reaching $27.83. The stock had a trading volume of 742,709 shares, compared to its average volume of 739,996. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.12 and a quick ratio of 1.85. The firm has a 50-day simple moving average of $26.65 and a 200-day simple moving average of $28.82. The firm has a market capitalization of $4.34 billion, a PE ratio of 11.79 and a beta of 1.00. Rayonier Inc. has a twelve month low of $24.88 and a twelve month high of $31.62.
Rayonier (NYSE:RYN - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.27 EPS for the quarter, beating the consensus estimate of $0.19 by $0.08. Rayonier had a net margin of 28.44% and a return on equity of 3.86%. As a group, equities analysts forecast that Rayonier Inc. will post 0.55 earnings per share for the current year.
Rayonier declared that its Board of Directors has approved a share repurchase plan on Monday, December 2nd that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to purchase up to 6.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.
Rayonier Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a dividend of $0.2725 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.09 dividend on an annualized basis and a yield of 3.92%. Rayonier's dividend payout ratio (DPR) is presently 46.19%.
Analyst Upgrades and Downgrades
RYN has been the subject of several recent analyst reports. StockNews.com raised shares of Rayonier from a "hold" rating to a "buy" rating in a report on Monday, February 24th. Raymond James upgraded Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 price target for the company in a research note on Wednesday, March 12th. Citigroup cut their price objective on Rayonier from $32.00 to $25.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 15th. Royal Bank of Canada reduced their target price on Rayonier from $33.00 to $30.00 and set a "sector perform" rating on the stock in a report on Friday, February 7th. Finally, Truist Financial lowered their price target on Rayonier from $32.00 to $30.00 and set a "hold" rating for the company in a report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $29.00.
Read Our Latest Analysis on RYN
Rayonier Profile
(
Free Report)
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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