Corient Private Wealth LLC Lowers Position in Rayonier Inc. (NYSE:RYN)

Corient Private Wealth LLC reduced its position in Rayonier Inc. (NYSE:RYN - Free Report) by 39.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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.

A number of other hedge funds also recently made changes to their positions in RYN. Advisors Asset Management Inc. raised its holdings in shares of Rayonier by 948.3% during the 3rd quarter. Advisors Asset Management Inc. now owns 13,146 shares of the real estate investment trust's stock worth $423,000 after acquiring an additional 11,892 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Rayonier by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,441,846 shares of the real estate investment trust's stock worth $78,579,000 after purchasing an additional 7,733 shares during the last quarter. BNP Paribas Financial Markets raised its stake 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Rayonier by 119.7% during 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 last quarter. Finally, Walleye Capital LLC purchased a new position in shares of Rayonier in the 3rd quarter worth approximately $435,000. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

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Rayonier Stock Down 0.6 %

NYSE:RYN traded down $0.17 during mid-day trading on Friday, hitting $27.68. 134,384 shares of the company's stock traded hands, compared to its average volume of 737,627. 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 company has a market capitalization of $4.32 billion, a P/E ratio of 11.73 and a beta of 1.00. The company has a fifty day moving average of $26.63 and a 200 day moving average of $28.84. Rayonier Inc. has a twelve month low of $24.88 and a twelve month high of $32.05.

Rayonier (NYSE:RYN - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.27 EPS for the quarter, beating 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%. On average, analysts forecast that Rayonier Inc. will post 0.55 EPS for the current year.

Rayonier announced that its Board of Directors has approved a share buyback program on Monday, December 2nd that permits the company to buyback $300.00 million in shares. This buyback authorization permits the real estate investment trust to reacquire up to 6.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board 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 issued a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date of this dividend is Monday, March 17th. Rayonier's dividend payout ratio (DPR) is presently 46.19%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Citigroup dropped their target price on Rayonier from $32.00 to $25.00 and set a "neutral" rating for the company in a research report on Wednesday, January 15th. StockNews.com upgraded Rayonier from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. Royal Bank of Canada cut their target price 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. Truist Financial decreased their price target on shares of Rayonier from $32.00 to $30.00 and set a "hold" rating for the company in a research report on Monday, January 6th. Finally, Raymond James raised shares of Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 price objective on the stock in a research report on Wednesday, March 12th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Rayonier presently has an average rating of "Hold" and a consensus target price of $29.00.

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.