Firetrail Investments PTY Ltd. boosted its holdings in Rayonier Inc. (NYSE:RYN - Free Report) by 56.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 384,490 shares of the real estate investment trust's stock after acquiring an additional 138,203 shares during the quarter. Rayonier accounts for about 3.0% of Firetrail Investments PTY Ltd.'s investment portfolio, making the stock its 17th largest position. Firetrail Investments PTY Ltd. owned 0.26% of Rayonier worth $10,072,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Venturi Wealth Management LLC lifted its position in Rayonier by 165.1% during the third quarter. Venturi Wealth Management LLC now owns 1,079 shares of the real estate investment trust's stock valued at $35,000 after purchasing an additional 672 shares during the last quarter. UMB Bank n.a. raised its position in shares of 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 valued at $37,000 after buying an additional 525 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Rayonier by 539.9% during the 3rd quarter. Blue Trust Inc. now owns 1,235 shares of the real estate investment trust's stock worth $40,000 after acquiring an additional 1,042 shares during the last quarter. GAMMA Investing LLC raised its position in Rayonier by 41.8% during the fourth quarter. GAMMA Investing LLC now owns 1,733 shares of the real estate investment trust's stock valued at $45,000 after purchasing an additional 511 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in shares of Rayonier by 135.7% in the 3rd quarter. Covestor Ltd now owns 1,782 shares of the real estate investment trust's stock worth $57,000 after purchasing an additional 1,026 shares in the last quarter. Hedge funds and other institutional investors own 89.12% of the company's stock.
Rayonier Trading Up 1.4 %
Rayonier stock traded up $0.38 during trading hours on Wednesday, reaching $27.35. The company had a trading volume of 1,468,409 shares, compared to its average volume of 680,713. 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 Inc. has a 12-month low of $24.88 and a 12-month high of $33.54. The company has a 50-day moving average price of $26.07 and a 200 day moving average price of $29.14. The firm has a market cap of $4.27 billion, a price-to-earnings ratio of 11.59 and a beta of 1.03.
Rayonier (NYSE:RYN - Get Free Report) last issued its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.27 EPS for the quarter, topping 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%. Equities analysts forecast that Rayonier Inc. will post 0.55 earnings per share for the current year.
Rayonier declared that its Board of Directors has approved a stock buyback program on Monday, December 2nd that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the real estate investment trust to purchase up to 6.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's management believes its shares are undervalued.
Rayonier Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a $0.2725 dividend. This represents a $1.09 annualized dividend and a yield of 3.99%. The ex-dividend date is Monday, March 17th. Rayonier's dividend payout ratio (DPR) is currently 46.19%.
Analyst Ratings Changes
A number of research firms recently weighed in on RYN. StockNews.com upgraded Rayonier from a "hold" rating to a "buy" rating in a research report on Monday, February 24th. Truist Financial lowered their price objective on shares of Rayonier from $32.00 to $30.00 and set a "hold" rating for the company in a report on Monday, January 6th. Citigroup reduced their target price on shares of Rayonier from $32.00 to $25.00 and set a "neutral" rating on the stock in a report on Wednesday, January 15th. Finally, Royal Bank of Canada lowered their price target on shares of Rayonier from $33.00 to $30.00 and set a "sector perform" rating for the company in a research note on Friday, February 7th.
Check Out Our Latest Analysis on Rayonier
Rayonier Company Profile
(
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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