Rayonier Inc. (NYSE:RYN) Holdings Decreased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its position in Rayonier Inc. (NYSE:RYN - Free Report) by 2.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,680,849 shares of the real estate investment trust's stock after selling 101,605 shares during the quarter. Pictet Asset Management Holding SA owned about 2.47% of Rayonier worth $96,070,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RYN. Harvest Fund Management Co. Ltd bought a new position in shares of Rayonier in the fourth quarter worth $25,000. UMB Bank n.a. lifted its holdings in Rayonier by 59.7% in the fourth quarter. UMB Bank n.a. now owns 1,404 shares of the real estate investment trust's stock worth $37,000 after purchasing an additional 525 shares during the period. Steward Partners Investment Advisory LLC grew its position in Rayonier by 264.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,677 shares of the real estate investment trust's stock valued at $44,000 after buying an additional 1,217 shares in the last quarter. GAMMA Investing LLC increased its stake in Rayonier by 41.8% during the 4th quarter. GAMMA Investing LLC now owns 1,733 shares of the real estate investment trust's stock valued at $45,000 after buying an additional 511 shares during the period. Finally, Harbor Capital Advisors Inc. raised its position in shares of Rayonier by 36.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 3,186 shares of the real estate investment trust's stock worth $83,000 after buying an additional 857 shares in the last quarter. 89.12% of the stock is owned by institutional investors and hedge funds.

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Rayonier Price Performance

Shares of NYSE RYN traded down $0.56 during mid-day trading on Thursday, reaching $27.43. The company had a trading volume of 162,797 shares, compared to its average volume of 740,288. Rayonier Inc. has a 1-year low of $24.88 and a 1-year high of $31.29. The stock has a market cap of $4.28 billion, a PE ratio of 11.62 and a beta of 1.00. The company has a current ratio of 1.12, a quick ratio of 1.85 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average price of $26.74 and a two-hundred day moving average price of $28.73.

Rayonier (NYSE:RYN - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.27 earnings per share 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 analysts anticipate that Rayonier Inc. will post 0.55 earnings per share for the current year.

Rayonier Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.97%. Rayonier's dividend payout ratio is currently 46.19%.

Analyst Ratings Changes

A number of research analysts recently commented on RYN shares. Raymond James upgraded shares of Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 price objective on the stock in a research note on Wednesday, March 12th. Citigroup lowered their price target on 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 cut their price objective on Rayonier from $33.00 to $30.00 and set a "sector perform" rating for the company in a report on Friday, February 7th. 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, StockNews.com raised shares of 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 assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $29.00.

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.