Prudential Financial Inc. trimmed its position in shares of Rayonier Inc. (NYSE:RYN - Free Report) by 90.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,066 shares of the real estate investment trust's stock after selling 105,531 shares during the period. Prudential Financial Inc.'s holdings in Rayonier were worth $289,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its holdings in shares of Rayonier by 2.3% during the 4th quarter. Pacer Advisors Inc. now owns 19,993 shares of the real estate investment trust's stock worth $522,000 after purchasing an additional 442 shares in the last quarter. GAMMA Investing LLC lifted its position in Rayonier by 41.8% in the fourth quarter. GAMMA Investing LLC now owns 1,733 shares of the real estate investment trust's stock worth $45,000 after purchasing an additional 511 shares during the period. UMB Bank n.a. boosted its stake in Rayonier by 59.7% during the fourth quarter. UMB Bank n.a. now owns 1,404 shares of the real estate investment trust's stock worth $37,000 after buying an additional 525 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in Rayonier by 36.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 3,186 shares of the real estate investment trust's stock valued at $83,000 after buying an additional 857 shares during the period. Finally, Harvest Fund Management Co. Ltd bought a new stake in Rayonier in the 4th quarter valued at $25,000. 89.12% of the stock is currently owned by institutional investors.
Rayonier Price Performance
Shares of RYN traded down $0.11 on Tuesday, hitting $24.87. The company's stock had a trading volume of 300,714 shares, compared to its average volume of 779,165. The company has a 50 day moving average price of $26.43 and a 200 day moving average price of $28.23. Rayonier Inc. has a fifty-two week low of $22.80 and a fifty-two week high of $31.29. The company has a market capitalization of $3.88 billion, a PE ratio of 10.54 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 announced 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 return on equity of 3.86% and a net margin of 28.44%. On average, research analysts anticipate that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.
Rayonier Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date of this dividend was Monday, March 17th. Rayonier's dividend payout ratio is presently 46.19%.
Analyst Ratings Changes
RYN has been the subject of a number of analyst reports. Truist Financial reduced 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. Royal Bank of Canada decreased their price objective on Rayonier from $33.00 to $30.00 and set a "sector perform" rating on the stock in a report on Friday, February 7th. Citigroup dropped their target price on Rayonier from $32.00 to $25.00 and set a "neutral" rating for the company in a report on Wednesday, January 15th. Raymond James raised Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 price target on the stock in a research note on Wednesday, March 12th. Finally, StockNews.com upgraded Rayonier from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $29.00.
Get Our Latest Report on RYN
About Rayonier
(
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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