Bailard Inc. Buys New Stake in Rayonier Inc. (NYSE:RYN)

Bailard Inc. bought a new position in shares of Rayonier Inc. (NYSE:RYN - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 12,515 shares of the real estate investment trust's stock, valued at approximately $327,000.

A number of other institutional investors have also modified their holdings of the stock. Pacer Advisors Inc. increased its position in shares of Rayonier by 2.3% during the fourth quarter. Pacer Advisors Inc. now owns 19,993 shares of the real estate investment trust's stock worth $522,000 after acquiring an additional 442 shares during the period. GAMMA Investing LLC increased its holdings in Rayonier by 41.8% during the fourth quarter. GAMMA Investing LLC now owns 1,733 shares of the real estate investment trust's stock valued at $45,000 after buying an additional 511 shares during the period. UMB Bank n.a. increased its holdings in Rayonier by 59.7% during the fourth quarter. UMB Bank n.a. now owns 1,404 shares of the real estate investment trust's stock valued at $37,000 after buying an additional 525 shares during the period. Venturi Wealth Management LLC increased its holdings in Rayonier by 165.1% during the third quarter. Venturi Wealth Management LLC now owns 1,079 shares of the real estate investment trust's stock valued at $35,000 after buying an additional 672 shares during the period. Finally, State of New Jersey Common Pension Fund D increased its holdings in Rayonier by 1.2% during the third quarter. State of New Jersey Common Pension Fund D now owns 65,078 shares of the real estate investment trust's stock valued at $2,094,000 after buying an additional 768 shares during the period. 89.12% of the stock is owned by hedge funds and other institutional investors.

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Rayonier Stock Up 1.6 %

NYSE RYN traded up $0.42 on Friday, hitting $27.31. The stock had a trading volume of 1,002,207 shares, compared to its average volume of 681,970. The business's fifty day moving average price is $26.10 and its 200 day moving average price is $29.11. 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 Inc. has a 52-week low of $24.88 and a 52-week high of $33.48. The stock has a market cap of $4.26 billion, a price-to-earnings ratio of 11.57 and a beta of 1.00.

Rayonier (NYSE:RYN - Get Free Report) last released its quarterly 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 net margin of 28.44% and a return on equity of 3.86%. Equities research analysts anticipate that Rayonier Inc. will post 0.55 earnings per share for the current year.

Rayonier announced that its board has approved a stock buyback program on Monday, December 2nd that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the real estate investment trust to purchase up to 6.4% of its stock through open market purchases. Stock buyback programs are typically a sign 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. Stockholders of record on Monday, March 17th will be paid a dividend of $0.2725 per share. The ex-dividend date is Monday, March 17th. This represents a $1.09 annualized dividend and a dividend yield of 3.99%. Rayonier's payout ratio is currently 46.19%.

Analyst Ratings Changes

Several brokerages recently issued reports on RYN. Truist Financial cut their price objective on shares of Rayonier from $32.00 to $30.00 and set a "hold" rating on the stock in a report on Monday, January 6th. Citigroup cut their price objective on shares of Rayonier from $32.00 to $25.00 and set a "neutral" rating on the stock in a report on Wednesday, January 15th. Royal Bank of Canada cut their price objective on shares of Rayonier from $33.00 to $30.00 and set a "sector perform" rating on the stock in a report on Friday, February 7th. Finally, StockNews.com raised shares of Rayonier from a "hold" rating to a "buy" rating in a report on Monday, February 24th.

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.