KLP Kapitalforvaltning AS bought a new position in shares of Rayonier Inc. (NYSE:RYN - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 28,000 shares of the real estate investment trust's stock, valued at approximately $731,000.
Other institutional investors also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Rayonier by 119.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 457,370 shares of the real estate investment trust's stock valued at $14,718,000 after acquiring an additional 249,173 shares in the last quarter. Firetrail Investments PTY Ltd. increased its position in shares of Rayonier by 56.1% in the fourth quarter. Firetrail Investments PTY Ltd. now owns 384,490 shares of the real estate investment trust's stock worth $10,072,000 after purchasing an additional 138,203 shares during the period. Global Alpha Capital Management Ltd. raised its stake in Rayonier by 11.3% in the fourth 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 purchasing an additional 116,800 shares in the last quarter. State Street Corp lifted its position in Rayonier by 2.5% during the third quarter. State Street Corp now owns 4,279,512 shares of the real estate investment trust's stock worth $137,715,000 after purchasing an additional 104,464 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in Rayonier by 87.6% during the third quarter. BNP Paribas Financial Markets now owns 161,130 shares of the real estate investment trust's stock worth $5,185,000 after purchasing an additional 75,258 shares during the period. Institutional investors own 89.12% of the company's stock.
Analyst Ratings Changes
Several brokerages have recently commented on RYN. Royal Bank of Canada dropped their target price on shares of Rayonier from $33.00 to $30.00 and set a "sector perform" rating for the company in a research report on Friday, February 7th. Raymond James upgraded Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 target price for the company in a research note on Wednesday, March 12th. StockNews.com upgraded Rayonier from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. Citigroup lowered their price target on Rayonier from $32.00 to $25.00 and set a "neutral" rating for the company in a report on Wednesday, January 15th. Finally, Truist Financial reduced 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. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, Rayonier has an average rating of "Hold" and an average target price of $29.00.
Read Our Latest Report on Rayonier
Rayonier Trading Down 7.0 %
NYSE RYN traded down $1.89 on Friday, reaching $25.02. The company had a trading volume of 1,812,421 shares, compared to its average volume of 748,623. The firm has a market cap of $3.91 billion, a price-to-earnings ratio of 10.60 and a beta of 1.00. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.12 and a quick ratio of 1.85. Rayonier Inc. has a fifty-two week low of $24.88 and a fifty-two week high of $31.29. The business has a 50 day moving average of $26.75 and a two-hundred day moving average of $28.72.
Rayonier (NYSE:RYN - Get Free Report) last issued its quarterly earnings data 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 return on equity of 3.86% and a net margin of 28.44%. Analysts forecast that Rayonier Inc. will post 0.55 EPS for the current year.
Rayonier Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a dividend yield of 4.36%. The ex-dividend date of this dividend was Monday, March 17th. Rayonier's dividend payout ratio (DPR) is presently 46.19%.
Rayonier Company Profile
(
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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