Geode Capital Management LLC Purchases 39,332 Shares of Rayonier Inc. (NYSE:RYN)

Geode Capital Management LLC grew its position in Rayonier Inc. (NYSE:RYN - Free Report) by 1.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,632,193 shares of the real estate investment trust's stock after acquiring an additional 39,332 shares during the quarter. Geode Capital Management LLC owned 1.77% of Rayonier worth $68,719,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in Rayonier in the fourth quarter worth $343,007,000. State Street Corp raised its stake in shares of Rayonier by 2.5% in the 3rd quarter. State Street Corp now owns 4,279,512 shares of the real estate investment trust's stock valued at $137,715,000 after buying an additional 104,464 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Rayonier by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,488,802 shares of the real estate investment trust's stock worth $64,958,000 after acquiring an additional 46,956 shares during the period. Franklin Resources Inc. acquired a new stake in shares of Rayonier during the 4th quarter valued at about $30,935,000. Finally, Global Alpha Capital Management Ltd. boosted its position in shares of Rayonier by 11.3% during the 4th quarter. Global Alpha Capital Management Ltd. now owns 1,150,927 shares of the real estate investment trust's stock valued at $30,039,000 after acquiring an additional 116,800 shares in the last quarter. Institutional investors and hedge funds own 89.12% of the company's stock.

Rayonier Price Performance

RYN stock remained flat at $24.98 during midday trading on Tuesday. The company had a trading volume of 779,001 shares, compared to its average volume of 780,979. The business has a fifty day moving average of $26.43 and a 200-day moving average of $28.23. 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 12-month low of $22.80 and a 12-month high of $31.29. The stock has a market cap of $3.90 billion, a P/E ratio of 10.58 and a beta of 0.97.

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Rayonier (NYSE:RYN - Get Free Report) last announced 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 return on equity of 3.86% and a net margin of 28.44%. Equities research analysts forecast that Rayonier Inc. will post 0.55 EPS for the current year.

Rayonier Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date of this dividend was Monday, March 17th. Rayonier's dividend payout ratio is presently 46.19%.

Analyst Upgrades and Downgrades

RYN has been the subject of a number of analyst reports. Raymond James upgraded shares of Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 price target for the company in a research note on Wednesday, March 12th. Royal Bank of Canada cut their target price on Rayonier from $33.00 to $30.00 and set a "sector perform" rating for the company in a research report on Friday, February 7th. Truist Financial lowered their price target on Rayonier from $32.00 to $30.00 and set a "hold" rating on the stock in a research report on Monday, January 6th. Citigroup cut 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. Finally, StockNews.com raised shares of Rayonier from a "hold" rating to a "buy" rating in a report on Monday, February 24th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $29.00.

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.