Raymond James Financial Inc. Makes New $1.46 Million Investment in Rayonier Inc. (NYSE:RYN)

Raymond James Financial Inc. bought a new position in shares of Rayonier Inc. (NYSE:RYN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 55,766 shares of the real estate investment trust's stock, valued at approximately $1,455,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC purchased a new position in shares of Rayonier during the 4th quarter valued at about $648,000. Charles Schwab Investment Management Inc. grew its holdings in Rayonier by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,488,802 shares of the real estate investment trust's stock worth $64,958,000 after acquiring an additional 46,956 shares during the period. Steward Partners Investment Advisory LLC raised its position in Rayonier by 264.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,677 shares of the real estate investment trust's stock valued at $44,000 after acquiring an additional 1,217 shares in the last quarter. Firetrail Investments PTY Ltd. lifted its holdings in Rayonier by 56.1% in the fourth quarter. Firetrail Investments PTY Ltd. now owns 384,490 shares of the real estate investment trust's stock valued at $10,072,000 after acquiring an additional 138,203 shares during the period. Finally, Bailard Inc. acquired a new position in Rayonier in the fourth quarter valued at approximately $327,000. 89.12% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on RYN shares. Raymond James raised shares of Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 target price for the company in a report on Wednesday, March 12th. StockNews.com raised shares of Rayonier from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. Royal Bank of Canada reduced their price target on Rayonier from $33.00 to $30.00 and set a "sector perform" rating for the company in a report on Friday, February 7th. Citigroup lowered their price target on Rayonier from $32.00 to $25.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 15th. Finally, Truist Financial reduced their target price on Rayonier from $32.00 to $30.00 and set a "hold" rating for the company in a research note on Monday, January 6th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $29.00.

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Rayonier Price Performance

Shares of RYN traded down $1.89 during mid-day trading on Friday, hitting $25.02. 1,812,421 shares of the company were exchanged, compared to its average volume of 748,623. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.85 and a current ratio of 1.12. Rayonier Inc. has a 1-year low of $24.88 and a 1-year high of $31.29. The stock has a market cap of $3.91 billion, a price-to-earnings ratio of 10.60 and a beta of 1.00. The company has a 50 day moving average of $26.75 and a 200-day moving average of $28.72.

Rayonier (NYSE:RYN - Get Free Report) last released its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.08. Rayonier had a return on equity of 3.86% and a net margin of 28.44%. Analysts expect that Rayonier Inc. will post 0.55 EPS for the current fiscal year.

Rayonier Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a dividend of $0.2725 per share. The ex-dividend date was Monday, March 17th. This represents a $1.09 annualized dividend and a yield of 4.36%. Rayonier's dividend payout ratio (DPR) is presently 46.19%.

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.