Amundi boosted its stake in shares of Rayonier Inc. (NYSE:RYN - Free Report) by 27.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 108,641 shares of the real estate investment trust's stock after purchasing an additional 23,641 shares during the period. Amundi owned approximately 0.07% of Rayonier worth $2,795,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in RYN. Entropy Technologies LP acquired a new position in shares of Rayonier in the 3rd quarter valued at $338,000. Oppenheimer Asset Management Inc. purchased a new stake in Rayonier during the 3rd quarter valued at about $311,000. Segall Bryant & Hamill LLC acquired a new position in shares of Rayonier in the third quarter valued at about $373,000. Global Alpha Capital Management Ltd. raised its stake in shares of Rayonier by 2.9% in the third quarter. Global Alpha Capital Management Ltd. now owns 1,034,127 shares of the real estate investment trust's stock worth $33,278,000 after purchasing an additional 28,800 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Rayonier by 948.3% during the third quarter. Advisors Asset Management Inc. now owns 13,146 shares of the real estate investment trust's stock worth $423,000 after purchasing an additional 11,892 shares during the period. Hedge funds and other institutional investors own 89.12% of the company's stock.
Rayonier Price Performance
Shares of Rayonier stock traded up $0.11 on Thursday, hitting $28.22. The company's stock had a trading volume of 792,267 shares, compared to its average volume of 697,492. The company has a market capitalization of $4.40 billion, a price-to-earnings ratio of 11.96 and a beta of 1.00. Rayonier Inc. has a 1 year low of $24.88 and a 1 year high of $32.05. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.85 and a current ratio of 1.12. The firm has a fifty day moving average price of $26.37 and a 200-day moving average price of $28.95.
Rayonier (NYSE:RYN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.27 EPS for the quarter, beating analysts' consensus estimates of $0.19 by $0.08. Rayonier had a return on equity of 3.86% and a net margin of 28.44%. As a group, sell-side analysts anticipate that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.
Rayonier announced that its board has initiated a stock buyback program on Monday, December 2nd that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its stock is undervalued.
Rayonier Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a yield of 3.86%. The ex-dividend date of this dividend is Monday, March 17th. Rayonier's payout ratio is 46.19%.
Wall Street Analysts Forecast Growth
RYN has been the subject of several research reports. Truist Financial decreased their price objective on shares of Rayonier from $32.00 to $30.00 and set a "hold" rating for the company in a research note on Monday, January 6th. Raymond James raised shares of Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 price target on the stock in a report on Wednesday, March 12th. Royal Bank of Canada reduced their price objective 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. StockNews.com upgraded Rayonier from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. Finally, Citigroup reduced their price target on Rayonier from $32.00 to $25.00 and set a "neutral" rating for the company in a research report on Wednesday, January 15th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $29.00.
Check Out Our Latest Report on RYN
Rayonier Company 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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