Alliancebernstein L.P. Sells 26,181 Shares of Rayonier Inc. (NYSE:RYN)

Alliancebernstein L.P. lessened its stake in shares of Rayonier Inc. (NYSE:RYN - Free Report) by 12.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 186,256 shares of the real estate investment trust's stock after selling 26,181 shares during the quarter. Alliancebernstein L.P. owned 0.13% of Rayonier worth $4,861,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of RYN. Norges Bank bought a new position in Rayonier in the 4th quarter valued at $343,007,000. State Street Corp lifted its holdings in Rayonier by 2.5% during the third quarter. State Street Corp now owns 4,279,512 shares of the real estate investment trust's stock worth $137,715,000 after acquiring an additional 104,464 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Rayonier by 1.9% during the 4th 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 purchasing an additional 46,956 shares in the last quarter. Global Alpha Capital Management Ltd. lifted its position in Rayonier by 11.3% in the 4th quarter. Global Alpha Capital Management Ltd. now owns 1,150,927 shares of the real estate investment trust's stock valued at $30,039,000 after acquiring an additional 116,800 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Rayonier by 0.3% during the fourth quarter. Rhumbline Advisers now owns 421,773 shares of the real estate investment trust's stock worth $11,008,000 after buying an additional 1,279 shares in the last quarter. 89.12% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Rayonier Stock Performance

Shares of Rayonier stock traded up $0.16 on Thursday, reaching $25.22. 419,042 shares of the company traded hands, compared to its average volume of 1,122,271. The company has a 50 day moving average of $26.38 and a 200 day moving average of $28.18. Rayonier Inc. has a 52 week low of $22.80 and a 52 week high of $32.88. The firm has a market capitalization of $3.93 billion, a PE ratio of 10.68 and a beta of 0.97. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.12 and a quick ratio of 1.85.

Rayonier (NYSE:RYN - Get Free Report) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, topping 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%. Equities analysts forecast that Rayonier Inc. will post 0.55 earnings per share for the current year.

Rayonier Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a $0.2725 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.09 annualized dividend and a dividend yield of 4.32%. Rayonier's payout ratio is currently 46.19%.

Rayonier Company 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.