Renaissance Technologies LLC Acquires Shares of 164,015 Rayonier Inc. (NYSE:RYN)

Renaissance Technologies LLC purchased a new stake in shares of Rayonier Inc. (NYSE:RYN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 164,015 shares of the real estate investment trust's stock, valued at approximately $4,281,000. Renaissance Technologies LLC owned approximately 0.11% of Rayonier as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Harvest Fund Management Co. Ltd bought a new position in Rayonier during the 4th quarter worth about $25,000. UMB Bank n.a. raised its stake 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 buying an additional 525 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in Rayonier by 264.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,677 shares of the real estate investment trust's stock worth $44,000 after buying an additional 1,217 shares during the period. GAMMA Investing LLC boosted its position 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 acquiring an additional 511 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in shares of 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 worth $83,000 after acquiring an additional 857 shares in the last quarter. Hedge funds and other institutional investors own 89.12% of the company's stock.

Analyst Upgrades and Downgrades

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

Rayonier Stock Performance

Shares of NYSE:RYN traded down $0.17 during midday trading on Wednesday, reaching $24.76. The company's stock had a trading volume of 692,312 shares, compared to its average volume of 790,297. The company has a quick ratio of 1.85, a current ratio of 1.12 and a debt-to-equity ratio of 0.61. The stock has a fifty day moving average of $26.33 and a 200 day moving average of $27.95. Rayonier Inc. has a twelve month low of $22.80 and a twelve month high of $31.29. The firm has a market capitalization of $3.86 billion, a PE ratio of 10.49 and a beta of 0.97.

Rayonier (NYSE:RYN - Get Free Report) last released 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 return on equity of 3.86% and a net margin of 28.44%. On average, equities analysts expect that Rayonier Inc. will post 0.55 EPS for the current fiscal year.

Rayonier Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date was Monday, March 17th. Rayonier's dividend payout ratio (DPR) is presently 46.19%.

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.