Ontario Teachers Pension Plan Board Invests $286,000 in Rayonier Inc. (NYSE:RYN)

Ontario Teachers Pension Plan Board purchased a new position in Rayonier Inc. (NYSE:RYN - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,966 shares of the real estate investment trust's stock, valued at approximately $286,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Rayonier in the fourth quarter worth $343,007,000. Franklin Resources Inc. purchased a new position in shares of Rayonier in the fourth quarter worth $30,935,000. ExodusPoint Capital Management LP purchased a new position in shares of Rayonier in the fourth quarter worth $4,726,000. Legal & General Group Plc lifted its holdings in shares of Rayonier by 5.8% in the fourth quarter. Legal & General Group Plc now owns 3,107,331 shares of the real estate investment trust's stock worth $81,101,000 after buying an additional 170,087 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of Rayonier in the fourth quarter worth $4,281,000. 89.12% of the stock is owned by hedge funds and other institutional investors.

Rayonier Trading Up 0.8 %

RYN stock traded up $0.21 during mid-day trading on Wednesday, reaching $25.13. 160,319 shares of the stock traded hands, compared to its average volume of 786,427. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.85 and a current ratio of 1.12. Rayonier Inc. has a one year low of $22.80 and a one year high of $31.29. The stock has a market capitalization of $3.92 billion, a PE ratio of 10.65 and a beta of 0.97. The business has a 50-day moving average price of $26.35 and a two-hundred day moving average price of $27.97.

Rayonier (NYSE:RYN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.27 earnings per share 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%. Equities research analysts expect 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 issued a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date was Monday, March 17th. Rayonier's payout ratio is presently 46.19%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. StockNews.com raised shares of Rayonier from a "hold" rating to a "buy" rating in a report on Monday, February 24th. Citigroup reduced their price target on shares of Rayonier from $32.00 to $25.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 15th. Royal Bank of Canada reduced their price target on shares of Rayonier from $33.00 to $30.00 and set a "sector perform" rating on the stock in a research report on Friday, February 7th. Raymond James upgraded shares of Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 price target on the stock in a research report on Wednesday, March 12th. Finally, Truist Financial reduced their price target on shares of Rayonier from $30.00 to $27.00 and set a "hold" rating on the stock in a research report on Tuesday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Rayonier currently has a consensus rating of "Hold" and a consensus target price of $28.25.

Rayonier Profile

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.