Cohen & Steers Inc. decreased its position in shares of Rayonier Inc. (NYSE:RYN - Free Report) by 2.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,767,565 shares of the real estate investment trust's stock after selling 261,077 shares during the period. Cohen & Steers Inc. owned about 7.90% of Rayonier worth $307,133,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of RYN. Harvest Fund Management Co. Ltd acquired a new position in Rayonier in the fourth quarter valued at approximately $25,000. UMB Bank n.a. lifted its position in shares of Rayonier by 59.7% during the 4th quarter. UMB Bank n.a. now owns 1,404 shares of the real estate investment trust's stock valued at $37,000 after acquiring an additional 525 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in shares of Rayonier by 264.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,677 shares of the real estate investment trust's stock worth $44,000 after buying an additional 1,217 shares during the period. GAMMA Investing LLC boosted its position in shares of Rayonier by 41.8% in the fourth quarter. GAMMA Investing LLC now owns 1,733 shares of the real estate investment trust's stock worth $45,000 after buying an additional 511 shares during the period. Finally, Covestor Ltd increased its stake in Rayonier by 30.0% in the 4th quarter. Covestor Ltd now owns 2,317 shares of the real estate investment trust's stock valued at $60,000 after buying an additional 535 shares during the period. Hedge funds and other institutional investors own 89.12% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on RYN shares. 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 research report on Wednesday, March 12th. StockNews.com raised Rayonier from a "hold" rating to a "buy" rating in a report on Monday, February 24th. Royal Bank of Canada cut their price target on Rayonier from $33.00 to $30.00 and set a "sector perform" rating on the stock in a research note on Friday, February 7th. Citigroup dropped their target price 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. Finally, Truist Financial cut their target price 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. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $29.00.
Check Out Our Latest Research Report on RYN
Rayonier Trading Up 0.7 %
Shares of Rayonier stock traded up $0.19 during midday trading on Friday, reaching $25.25. The company had a trading volume of 770,739 shares, compared to its average volume of 786,775. The firm has a market cap of $3.94 billion, a PE ratio of 10.70 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 Inc. has a fifty-two week low of $22.80 and a fifty-two week high of $31.29. The stock has a fifty day moving average price of $26.37 and a 200 day moving average price of $28.09.
Rayonier (NYSE:RYN - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.27 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.08. Rayonier had a net margin of 28.44% and a return on equity of 3.86%. On average, equities analysts anticipate that Rayonier Inc. will post 0.55 earnings per share for the current year.
Rayonier Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a $0.2725 dividend. This represents a $1.09 annualized dividend and a dividend yield of 4.32%. The ex-dividend date was Monday, March 17th. Rayonier's dividend payout ratio (DPR) is presently 46.19%.
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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