Price T Rowe Associates Inc. MD Sells 395,962 Shares of Rayonier Inc. (NYSE:RYN)

Price T Rowe Associates Inc. MD lessened its holdings in Rayonier Inc. (NYSE:RYN - Free Report) by 2.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,655,015 shares of the real estate investment trust's stock after selling 395,962 shares during the quarter. Price T Rowe Associates Inc. MD owned 11.85% of Rayonier worth $460,797,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Oak Thistle LLC bought a new stake in Rayonier in the fourth quarter valued at $467,000. Oppenheimer & Co. Inc. acquired a new position in Rayonier in the fourth quarter valued at about $327,000. HighTower Advisors LLC grew its stake in Rayonier by 3.4% during the fourth quarter. HighTower Advisors LLC now owns 66,571 shares of the real estate investment trust's stock worth $1,738,000 after buying an additional 2,168 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Rayonier by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,488,802 shares of the real estate investment trust's stock worth $64,958,000 after buying an additional 46,956 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Rayonier by 9.4% in the fourth quarter. Invesco Ltd. now owns 370,474 shares of the real estate investment trust's stock valued at $9,669,000 after acquiring an additional 31,916 shares during the last quarter. Institutional investors and hedge funds own 89.12% of the company's stock.

Rayonier Stock Down 0.5 %

RYN stock traded down $0.13 during trading hours on Tuesday, reaching $24.51. 401,146 shares of the stock were exchanged, compared to its average volume of 795,206. The firm's 50-day moving average is $26.27 and its 200-day moving average is $27.75. Rayonier Inc. has a 12 month low of $22.80 and a 12 month high of $31.29. The company has a market cap of $3.82 billion, a price-to-earnings ratio of 10.39 and a beta of 0.97. 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 (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 (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%. On average, equities research analysts expect that Rayonier Inc. will post 0.55 earnings per share for the current year.

Rayonier Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date was Monday, March 17th. Rayonier's dividend payout ratio is currently 46.19%.

Analyst Ratings Changes

RYN has been the subject of a number of analyst reports. Truist Financial lowered their target price on shares of Rayonier from $30.00 to $27.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd. Royal Bank of Canada decreased their price objective 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. Raymond James upgraded shares of Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 price objective for the company in a research report on Wednesday, March 12th. Citigroup decreased their target price on Rayonier from $32.00 to $25.00 and set a "neutral" rating for the company in a research note on Wednesday, January 15th. Finally, StockNews.com upgraded Rayonier from a "hold" rating to a "buy" rating in a report on Monday, February 24th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Rayonier has an average rating of "Hold" and an average price target 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.