Rayonier Inc. (NYSE:RYN) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC lessened its holdings in Rayonier Inc. (NYSE:RYN - Free Report) by 39.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 51,483 shares of the real estate investment trust's stock after selling 33,311 shares during the period. Corient Private Wealth LLC's holdings in Rayonier were worth $1,344,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Rayonier by 119.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 457,370 shares of the real estate investment trust's stock valued at $14,718,000 after purchasing an additional 249,173 shares during the period. Firetrail Investments PTY Ltd. grew its stake in Rayonier by 56.1% in the 4th quarter. Firetrail Investments PTY Ltd. now owns 384,490 shares of the real estate investment trust's stock valued at $10,072,000 after acquiring an additional 138,203 shares during the period. Global Alpha Capital Management Ltd. raised its position in Rayonier by 11.3% during the fourth quarter. Global Alpha Capital Management Ltd. now owns 1,150,927 shares of the real estate investment trust's stock worth $30,039,000 after acquiring an additional 116,800 shares during the period. State Street Corp raised its position 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 during the period. Finally, BNP Paribas Financial Markets lifted its holdings in Rayonier by 87.6% during the third quarter. BNP Paribas Financial Markets now owns 161,130 shares of the real estate investment trust's stock valued at $5,185,000 after purchasing an additional 75,258 shares in the last quarter. Institutional investors own 89.12% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on RYN. 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. Truist Financial decreased their target price on shares of Rayonier from $32.00 to $30.00 and set a "hold" rating on the stock in a research note on Monday, January 6th. StockNews.com raised Rayonier from a "hold" rating to a "buy" rating in a report on Monday, February 24th. Raymond James raised Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 price objective on the stock in a research note on Wednesday, March 12th. Finally, Citigroup cut 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 given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $29.00.

Rayonier Trading Down 0.1 %

NYSE RYN traded down $0.02 during trading on Friday, hitting $27.83. The stock had a trading volume of 742,709 shares, compared to its average volume of 739,996. The company has a market capitalization of $4.34 billion, a PE ratio of 11.79 and a beta of 1.00. Rayonier Inc. has a twelve month low of $24.88 and a twelve month high of $31.62. The company has a quick ratio of 1.85, a current ratio of 1.12 and a debt-to-equity ratio of 0.61. The firm has a 50 day moving average price of $26.65 and a 200 day moving average price of $28.80.

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

Rayonier Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend is Monday, March 17th. Rayonier's payout ratio is 46.19%.

Rayonier announced that its board has authorized a stock buyback plan on Monday, December 2nd that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the real estate investment trust to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board believes its shares are undervalued.

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.