Diamond Hill Capital Management Inc. Has $39.05 Million Position in Rayonier Inc. (NYSE:RYN)

Diamond Hill Capital Management Inc. decreased its position in Rayonier Inc. (NYSE:RYN - Free Report) by 14.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,496,049 shares of the real estate investment trust's stock after selling 261,581 shares during the quarter. Diamond Hill Capital Management Inc. owned 1.00% of Rayonier worth $39,047,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC increased 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 valued at $35,000 after acquiring an additional 672 shares during the period. UMB Bank n.a. boosted its position 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 buying an additional 525 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in 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 valued at $44,000 after purchasing an additional 1,217 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Rayonier by 41.8% in the 4th quarter. GAMMA Investing LLC now owns 1,733 shares of the real estate investment trust's stock valued at $45,000 after purchasing an additional 511 shares in the last quarter. Finally, Covestor Ltd lifted its holdings in shares of Rayonier by 135.7% during the 3rd quarter. Covestor Ltd now owns 1,782 shares of the real estate investment trust's stock worth $57,000 after acquiring an additional 1,026 shares during the period. Institutional investors and hedge funds own 89.12% of the company's stock.

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Rayonier Stock Performance

RYN traded up $0.19 on Tuesday, hitting $28.04. The company had a trading volume of 1,095,060 shares, compared to its average volume of 696,754. The company's fifty day moving average price is $26.28 and its 200 day moving average price is $28.97. Rayonier Inc. has a 1-year low of $24.88 and a 1-year high of $32.05. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.12 and a quick ratio of 1.85. The stock has a market cap of $4.38 billion, a price-to-earnings ratio of 11.88 and a beta of 1.00.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.08. Rayonier had a return on equity of 3.86% and a net margin of 28.44%. Equities analysts predict that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.

Rayonier Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date is Monday, March 17th. Rayonier's dividend payout ratio (DPR) is 46.19%.

Rayonier declared that its board has approved a share repurchase program on Monday, December 2nd that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to buy up to 6.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms recently commented on RYN. Royal Bank of Canada cut their price target 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. 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. Citigroup reduced their price objective on Rayonier from $32.00 to $25.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 15th. Raymond James upgraded Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 target price on the stock in a research note on Wednesday, March 12th. Finally, StockNews.com upgraded Rayonier from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average 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.