Franklin Resources Inc. Makes New $30.94 Million Investment in Rayonier Inc. (NYSE:RYN)

Franklin Resources Inc. bought a new stake in Rayonier Inc. (NYSE:RYN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,185,244 shares of the real estate investment trust's stock, valued at approximately $30,935,000. Franklin Resources Inc. owned approximately 0.80% of Rayonier as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Harvest Fund Management Co. Ltd acquired a new stake in shares of Rayonier in the fourth quarter valued at approximately $25,000. UMB Bank n.a. boosted its holdings in Rayonier by 59.7% in the fourth 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 increased its position in 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 purchasing an additional 1,217 shares during the period. GAMMA Investing LLC raised its holdings in Rayonier by 41.8% during the 4th quarter. GAMMA Investing LLC now owns 1,733 shares of the real estate investment trust's stock worth $45,000 after purchasing an additional 511 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its position in shares of Rayonier by 36.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 3,186 shares of the real estate investment trust's stock worth $83,000 after buying an additional 857 shares during the period. 89.12% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

A number of research firms recently commented on RYN. Citigroup dropped their price objective on Rayonier from $32.00 to $25.00 and set a "neutral" rating for the company in a report on Wednesday, January 15th. Truist Financial dropped their price objective on Rayonier from $32.00 to $30.00 and set a "hold" rating on the stock in a research note on Monday, January 6th. Royal Bank of Canada decreased their target price 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. Raymond James raised 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. Finally, StockNews.com upgraded Rayonier from a "hold" rating to a "buy" rating in a research report on Monday, February 24th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Rayonier presently has a consensus rating of "Hold" and an average price target of $29.00.

Rayonier Stock Down 1.7 %

Shares of RYN stock traded down $0.42 on Thursday, hitting $24.20. 344,591 shares of the stock were exchanged, compared to its average volume of 771,341. The firm has a market capitalization of $3.78 billion, a P/E ratio of 10.28 and a beta of 0.97. The business has a 50-day moving average of $26.51 and a 200 day moving average of $28.41. The company has a current ratio of 1.12, a quick ratio of 1.85 and a debt-to-equity ratio of 0.61. Rayonier Inc. has a fifty-two week low of $22.80 and a fifty-two week high of $31.29.

Rayonier (NYSE:RYN - Get Free Report) last released its earnings results 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%. Equities analysts anticipate that Rayonier Inc. will post 0.55 EPS for the current year.

Rayonier Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a $0.2725 dividend. This represents a $1.09 annualized dividend and a dividend yield of 4.50%. The ex-dividend date of this dividend was Monday, March 17th. Rayonier's payout ratio is presently 46.19%.

Rayonier 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.