Massachusetts Financial Services Co. MA raised its stake in Rayonier Inc. (NYSE:RYN - Free Report) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,372,817 shares of the real estate investment trust's stock after buying an additional 20,126 shares during the period. Massachusetts Financial Services Co. MA owned 2.26% of Rayonier worth $88,031,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Harvest Fund Management Co. Ltd bought a new position in Rayonier during the fourth quarter worth $25,000. UMB Bank n.a. lifted its holdings in Rayonier by 59.7% during the 4th quarter. UMB Bank n.a. now owns 1,404 shares of the real estate investment trust's stock worth $37,000 after purchasing an additional 525 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in Rayonier by 264.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,677 shares of the real estate investment trust's stock valued at $44,000 after purchasing an additional 1,217 shares during the period. GAMMA Investing LLC boosted its position in shares of 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 acquiring an additional 511 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its position in Rayonier by 36.8% in the fourth quarter. Harbor Capital Advisors Inc. now owns 3,186 shares of the real estate investment trust's stock worth $83,000 after acquiring an additional 857 shares in the last quarter. Institutional investors own 89.12% of the company's stock.
Rayonier Stock Down 2.3 %
Rayonier stock traded down $0.57 during trading hours on Thursday, hitting $24.05. 432,201 shares of the stock traded hands, compared to its average volume of 771,715. Rayonier Inc. has a one year low of $22.80 and a one year high of $31.29. The firm's 50-day moving average price is $26.51 and its two-hundred day moving average price is $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. The company has a market cap of $3.75 billion, a PE ratio of 10.19 and a beta of 0.97.
Rayonier (NYSE:RYN - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.27 EPS for the quarter, beating the consensus estimate of $0.19 by $0.08. Rayonier had a return on equity of 3.86% and a net margin of 28.44%. On average, research analysts forecast that Rayonier Inc. will post 0.55 EPS for the current year.
Rayonier Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a $0.2725 dividend. This represents a $1.09 annualized dividend and a dividend yield of 4.53%. The ex-dividend date was Monday, March 17th. Rayonier's dividend payout ratio is presently 46.19%.
Analyst Ratings Changes
A number of brokerages have recently issued reports on RYN. Truist Financial cut their price objective on shares of Rayonier from $32.00 to $30.00 and set a "hold" rating for the company in a research note on Monday, January 6th. Citigroup reduced their price objective on Rayonier from $32.00 to $25.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 15th. Raymond James raised 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. 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 report on Friday, February 7th. Finally, StockNews.com upgraded Rayonier from a "hold" rating to a "buy" rating in a report on Monday, February 24th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $29.00.
Read Our Latest Analysis on Rayonier
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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