New Age Alpha Advisors LLC acquired a new position in shares of Rayonier Inc. (NYSE:RYN - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 12,459 shares of the real estate investment trust's stock, valued at approximately $325,000.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Rayonier in the 4th quarter worth about $343,007,000. WINTON GROUP Ltd raised its stake in Rayonier by 5.5% during the fourth quarter. WINTON GROUP Ltd now owns 112,914 shares of the real estate investment trust's stock worth $2,947,000 after acquiring an additional 5,873 shares during the period. Mountain Hill Investment Partners Corp. bought a new position in Rayonier in the fourth quarter worth about $261,000. KLP Kapitalforvaltning AS bought a new position in Rayonier in the fourth quarter worth about $731,000. Finally, Virtu Financial LLC bought a new position in shares of Rayonier during the fourth quarter valued at approximately $226,000. Institutional investors and hedge funds own 89.12% of the company's stock.
Rayonier Stock Performance
Shares of NYSE:RYN traded down $1.89 on Friday, hitting $25.02. The company's stock had a trading volume of 1,812,421 shares, compared to its average volume of 748,623. Rayonier Inc. has a 12 month low of $24.88 and a 12 month high of $31.29. The stock's 50-day moving average is $26.75 and its two-hundred day moving average is $28.72. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.85 and a current ratio of 1.12. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of 10.60 and a beta of 1.00.
Rayonier (NYSE:RYN - Get Free Report) last released its earnings results 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 net margin of 28.44% and a return on equity of 3.86%. On average, equities research analysts forecast that Rayonier Inc. will post 0.55 EPS for the current year.
Rayonier Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a dividend of $0.2725 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.09 annualized dividend and a yield of 4.36%. Rayonier's payout ratio is 46.19%.
Analyst Ratings Changes
A number of research analysts recently issued reports on RYN shares. Royal Bank of Canada reduced their price objective 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. StockNews.com raised shares of Rayonier from a "hold" rating to a "buy" rating in a report on Monday, February 24th. 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 report on Wednesday, March 12th. 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 research note on Wednesday, January 15th. Finally, Truist Financial decreased their target price 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. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Rayonier currently has an average rating of "Hold" and an average target price of $29.00.
Get Our Latest Report on RYN
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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