ExodusPoint Capital Management LP bought a new stake in Rayonier Inc. (NYSE:RYN - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 181,069 shares of the real estate investment trust's stock, valued at approximately $4,726,000. ExodusPoint Capital Management LP owned about 0.12% of Rayonier at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA raised its position in Rayonier by 0.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,372,817 shares of the real estate investment trust's stock worth $88,031,000 after purchasing an additional 20,126 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Rayonier by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 2,632,193 shares of the real estate investment trust's stock worth $68,719,000 after buying an additional 39,332 shares during the period. Franklin Resources Inc. bought a new stake in shares of Rayonier during the 4th quarter valued at $30,935,000. New Age Alpha Advisors LLC acquired a new position in shares of Rayonier in the 4th quarter valued at $325,000. Finally, Norges Bank bought a new position in Rayonier during the fourth quarter worth about $343,007,000. 89.12% of the stock is owned by institutional investors and hedge funds.
Rayonier Stock Performance
Shares of RYN stock traded up $0.35 on Friday, reaching $24.59. The stock had a trading volume of 1,205,242 shares, compared to its average volume of 779,704. 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's 50-day moving average is $26.45 and its two-hundred day moving average is $28.30. The firm has a market capitalization of $3.84 billion, a price-to-earnings ratio of 10.42 and a beta of 0.97. Rayonier Inc. has a 12 month low of $22.80 and a 12 month high of $31.29.
Rayonier (NYSE:RYN - Get Free Report) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.27 earnings per share (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%. On average, research analysts expect that Rayonier Inc. will post 0.55 EPS for the current fiscal year.
Rayonier Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a yield of 4.43%. The ex-dividend date was Monday, March 17th. Rayonier's payout ratio is 46.19%.
Analysts Set New Price Targets
Several brokerages have commented on RYN. StockNews.com raised shares of Rayonier from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. Truist Financial cut their price objective on shares of Rayonier from $32.00 to $30.00 and set a "hold" rating on the stock in a research report on Monday, January 6th. Raymond James raised Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 target price on the stock in a research report on Wednesday, March 12th. Royal Bank of Canada reduced their target price on shares of Rayonier from $33.00 to $30.00 and set a "sector perform" rating for the company in a report on Friday, February 7th. Finally, Citigroup lowered their target price on Rayonier from $32.00 to $25.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 15th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $29.00.
View Our Latest Report on RYN
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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