17,903 Shares in Rayonier Inc. (NYSE:RYN) Purchased by Oak Thistle LLC

Oak Thistle LLC acquired a new stake in shares of Rayonier Inc. (NYSE:RYN - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 17,903 shares of the real estate investment trust's stock, valued at approximately $467,000.

Several other institutional investors have also bought and sold shares of the stock. Vestcor Inc bought a new stake in shares of Rayonier during the 3rd quarter worth about $1,749,000. Stifel Financial Corp increased its stake in shares of Rayonier by 209.6% during the third quarter. Stifel Financial Corp now owns 57,289 shares of the real estate investment trust's stock valued at $1,843,000 after acquiring an additional 38,783 shares during the period. Edgestream Partners L.P. bought a new stake in Rayonier during the second quarter worth approximately $732,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Rayonier by 119.7% in the third 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 worth $14,718,000 after purchasing an additional 249,173 shares during the period. Finally, State Street Corp boosted its stake in Rayonier by 2.5% during the 3rd quarter. State Street Corp now owns 4,279,512 shares of the real estate investment trust's stock valued at $137,715,000 after purchasing an additional 104,464 shares in the last quarter. Institutional investors and hedge funds own 89.12% of the company's stock.

Rayonier Price Performance

Shares of NYSE:RYN traded up $0.37 on Friday, reaching $26.54. 879,130 shares of the company traded hands, compared to its average volume of 899,075. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.99 and a quick ratio of 1.85. The stock has a market capitalization of $3.95 billion, a PE ratio of 25.03 and a beta of 1.04. The company's 50 day moving average is $28.58 and its 200-day moving average is $29.85. Rayonier Inc. has a fifty-two week low of $24.88 and a fifty-two week high of $35.29.

Rayonier (NYSE:RYN - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates of $0.13 by ($0.01). The company had revenue of $195.00 million during the quarter, compared to analyst estimates of $211.21 million. Rayonier had a net margin of 15.84% and a return on equity of 2.95%. The company's revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.13 EPS. As a group, analysts anticipate that Rayonier Inc. will post 0.38 earnings per share for the current fiscal year.

Rayonier declared that its board has authorized a stock repurchase program on Monday, December 2nd that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to repurchase up to 6.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board believes its stock is undervalued.

Rayonier Increases Dividend

The company also recently declared a special dividend, which will be paid on Thursday, January 30th. Stockholders of record on Thursday, December 12th will be issued a dividend of $1.80 per share. This is a positive change from Rayonier's previous special dividend of $0.20. Rayonier's payout ratio is currently 107.55%.

Analyst Ratings Changes

A number of analysts have recently commented on RYN shares. StockNews.com raised Rayonier from a "sell" rating to a "hold" rating in a research note on Saturday, November 16th. Truist Financial lowered their target price on Rayonier from $32.00 to $30.00 and set a "hold" rating on the stock in a report on Monday, January 6th. Finally, Citigroup cut their price target on shares of Rayonier from $32.00 to $25.00 and set a "neutral" rating for the company in a report on Wednesday. Four research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $29.67.

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.