Rayonier Inc. (NYSE:RYN) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its position in Rayonier Inc. (NYSE:RYN - Free Report) by 35.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,182,846 shares of the real estate investment trust's stock after selling 1,197,174 shares during the quarter. JPMorgan Chase & Co. owned 1.46% of Rayonier worth $56,972,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RYN. WINTON GROUP Ltd grew its position in Rayonier by 5.5% in the 4th quarter. WINTON GROUP Ltd now owns 112,914 shares of the real estate investment trust's stock worth $2,947,000 after purchasing an additional 5,873 shares in the last quarter. Mountain Hill Investment Partners Corp. bought a new position in shares of Rayonier during the 4th quarter valued at $261,000. KLP Kapitalforvaltning AS purchased a new position in shares of Rayonier in the fourth quarter valued at about $731,000. Virtu Financial LLC purchased a new position in shares of Rayonier in the fourth quarter valued at about $226,000. Finally, Teacher Retirement System of Texas boosted its stake in Rayonier by 43.8% during the fourth quarter. Teacher Retirement System of Texas now owns 29,283 shares of the real estate investment trust's stock worth $764,000 after acquiring an additional 8,918 shares in the last quarter. Institutional investors own 89.12% of the company's stock.

Rayonier Trading Down 0.6 %

RYN stock traded down $0.15 during trading on Thursday, hitting $24.47. The company had a trading volume of 227,742 shares, compared to its average volume of 770,927. The firm has a market capitalization of $3.82 billion, a P/E ratio of 10.37 and a beta of 0.97. Rayonier Inc. has a 52-week low of $22.80 and a 52-week high of $31.29. The company has a 50 day simple moving average of $26.51 and a 200-day simple moving average of $28.41. The company has a quick ratio of 1.85, a current ratio of 1.12 and a debt-to-equity ratio of 0.61.

Remove Ads

Rayonier (NYSE:RYN - Get Free Report) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.27 EPS 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%. As a group, research analysts forecast that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.

Rayonier Cuts Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date of this dividend was Monday, March 17th. Rayonier's dividend payout ratio (DPR) is 46.19%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on RYN shares. Truist Financial lowered 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. Citigroup reduced their target price on shares of Rayonier from $32.00 to $25.00 and set a "neutral" rating for the company in a report on Wednesday, January 15th. 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. StockNews.com raised shares of Rayonier from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. Finally, Raymond James raised shares of Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 price objective for the company in a research note on Wednesday, March 12th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Rayonier has an average rating of "Hold" and an average target price of $29.00.

About Rayonier

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.