Charles Schwab Investment Management Inc. increased its holdings in shares of Rayonier Inc. (NYSE:RYN - Free Report) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,488,802 shares of the real estate investment trust's stock after buying an additional 46,956 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.67% of Rayonier worth $64,958,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC raised its holdings in shares of Rayonier by 165.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,079 shares of the real estate investment trust's stock worth $35,000 after purchasing an additional 672 shares during the period. UMB Bank n.a. raised its holdings in shares of Rayonier by 59.7% in the 4th quarter. UMB Bank n.a. now owns 1,404 shares of the real estate investment trust's stock worth $37,000 after purchasing an additional 525 shares during the period. Steward Partners Investment Advisory LLC raised its holdings in shares of Rayonier by 264.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,677 shares of the real estate investment trust's stock worth $44,000 after purchasing an additional 1,217 shares during the period. GAMMA Investing LLC raised its holdings in shares of Rayonier by 41.8% in the 4th quarter. GAMMA Investing LLC now owns 1,733 shares of the real estate investment trust's stock worth $45,000 after purchasing an additional 511 shares during the period. Finally, Covestor Ltd raised its holdings in shares of Rayonier by 135.7% in the 3rd quarter. Covestor Ltd now owns 1,782 shares of the real estate investment trust's stock worth $57,000 after purchasing an additional 1,026 shares during the period. 89.12% of the stock is currently owned by hedge funds and other institutional investors.
Rayonier Stock Up 2.5 %
NYSE RYN traded up $0.68 during trading hours on Friday, reaching $27.95. 867,239 shares of the company traded hands, compared to its average volume of 693,315. The stock has a market capitalization of $4.36 billion, a PE ratio of 11.84 and a beta of 1.00. The company has a current ratio of 1.12, a quick ratio of 1.85 and a debt-to-equity ratio of 0.61. Rayonier Inc. has a 12 month low of $24.88 and a 12 month high of $32.05. The company has a 50 day moving average of $26.25 and a two-hundred day moving average of $29.00.
Rayonier (NYSE:RYN - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.27 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%. As a group, equities analysts expect that Rayonier Inc. will post 0.55 earnings per share for the current year.
Rayonier announced that its board has authorized a stock repurchase plan on Monday, December 2nd that allows the company to buyback $300.00 million in shares. This buyback authorization allows the real estate investment trust to reacquire up to 6.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board of directors believes its shares are undervalued.
Rayonier Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a dividend yield of 3.90%. The ex-dividend date of this dividend is Monday, March 17th. Rayonier's dividend payout ratio is currently 46.19%.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on RYN. Raymond James upgraded Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 target price for the company in a research note on Wednesday. Royal Bank of Canada lowered their target price 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. Truist Financial lowered 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. Finally, Citigroup lowered their target price on Rayonier from $32.00 to $25.00 and set a "neutral" rating for the company in a research note on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Rayonier currently has a consensus rating of "Hold" and a consensus target price of $29.00.
Get Our Latest Analysis on Rayonier
About Rayonier
(
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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