Impax Asset Management Group plc lessened its holdings in Rayonier Inc. (NYSE:RYN - Free Report) by 9.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 5,963,964 shares of the real estate investment trust's stock after selling 629,488 shares during the period. Impax Asset Management Group plc owned 4.00% of Rayonier worth $154,709,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Pacer Advisors Inc. grew its position in shares of Rayonier by 2.3% during the fourth quarter. Pacer Advisors Inc. now owns 19,993 shares of the real estate investment trust's stock worth $522,000 after purchasing an additional 442 shares in the last quarter. CWM LLC grew its holdings in Rayonier by 20.6% during the 3rd quarter. CWM LLC now owns 2,849 shares of the real estate investment trust's stock valued at $92,000 after buying an additional 487 shares in the last quarter. GAMMA Investing LLC grew 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 valued at $45,000 after buying an additional 511 shares in the last quarter. UMB Bank n.a. raised its position in shares of Rayonier by 59.7% during 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 buying an additional 525 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Rayonier by 165.1% in the third quarter. Venturi Wealth Management LLC now owns 1,079 shares of the real estate investment trust's stock worth $35,000 after buying an additional 672 shares in the last quarter. 89.12% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several research firms recently weighed in on RYN. StockNews.com raised shares of Rayonier from a "hold" rating to a "buy" rating in a research note on Monday. Truist Financial lowered their price objective 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 decreased their target price on shares of Rayonier from $32.00 to $25.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 15th. Finally, Royal Bank of Canada dropped their price target 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.
Read Our Latest Stock Report on Rayonier
Rayonier Trading Up 1.5 %
RYN traded up $0.39 during trading on Thursday, reaching $26.54. The company had a trading volume of 928,266 shares, compared to its average volume of 1,026,173. 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 business has a 50 day simple moving average of $26.04 and a 200-day simple moving average of $29.19. The stock has a market cap of $4.14 billion, a P/E ratio of 11.25 and a beta of 1.03. Rayonier Inc. has a 52 week low of $24.88 and a 52 week high of $35.29.
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 (EPS) for the quarter, topping 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, equities analysts anticipate that Rayonier Inc. will post 0.55 EPS for the current fiscal year.
Rayonier announced that its Board of Directors has authorized a share buyback plan 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 purchase up to 6.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its stock is undervalued.
Rayonier Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a $0.2725 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.09 annualized dividend and a yield of 4.11%. Rayonier's dividend payout ratio (DPR) is currently 46.19%.
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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