Russell Investments Group Ltd. grew its stake in shares of Rayonier Inc. (NYSE:RYN - Free Report) by 1.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 713,037 shares of the real estate investment trust's stock after acquiring an additional 11,969 shares during the period. Russell Investments Group Ltd. owned about 0.48% of Rayonier worth $18,610,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. Dynamic Technology Lab Private Ltd purchased a new stake in Rayonier during the fourth quarter worth $320,000. ExodusPoint Capital Management LP purchased a new stake in shares of Rayonier in the 4th quarter worth about $4,726,000. Massachusetts Financial Services Co. MA grew its stake in Rayonier by 0.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,372,817 shares of the real estate investment trust's stock valued at $88,031,000 after acquiring an additional 20,126 shares during the last quarter. Geode Capital Management LLC increased its holdings in Rayonier by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 2,632,193 shares of the real estate investment trust's stock valued at $68,719,000 after acquiring an additional 39,332 shares in the last quarter. Finally, Franklin Resources Inc. acquired a new position in Rayonier during the fourth quarter worth about $30,935,000. Hedge funds and other institutional investors own 89.12% of the company's stock.
Rayonier Trading Up 0.1 %
Shares of Rayonier stock traded up $0.03 during trading hours on Tuesday, reaching $25.01. The stock had a trading volume of 158,539 shares, compared to its average volume of 778,555. The company has a current ratio of 1.12, a quick ratio of 1.85 and a debt-to-equity ratio of 0.61. Rayonier Inc. has a 1 year low of $22.80 and a 1 year high of $31.29. The firm has a market capitalization of $3.90 billion, a price-to-earnings ratio of 10.61 and a beta of 0.97. The firm has a 50 day simple moving average of $26.43 and a two-hundred day simple moving average of $28.23.
Rayonier (NYSE:RYN - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.27 EPS for the quarter, beating 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%. As a group, equities research analysts anticipate that Rayonier Inc. will post 0.55 earnings per share for the current year.
Rayonier Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a $0.2725 dividend. This represents a $1.09 annualized dividend and a yield of 4.36%. The ex-dividend date of this dividend was Monday, March 17th. Rayonier's dividend payout ratio (DPR) is 46.19%.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on RYN. Truist Financial reduced their target price on shares of Rayonier from $32.00 to $30.00 and set a "hold" rating on the stock in a report on Monday, January 6th. Raymond James upgraded Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 price objective on the stock in a report on Wednesday, March 12th. Citigroup reduced their target price on Rayonier from $32.00 to $25.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 15th. StockNews.com upgraded Rayonier from a "hold" rating to a "buy" rating in a report on Monday, February 24th. Finally, Royal Bank of Canada cut their price objective on shares of Rayonier from $33.00 to $30.00 and set a "sector perform" rating on the stock in a report on Friday, February 7th. Three investment 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, the stock currently has a consensus rating of "Hold" and a consensus price target of $29.00.
Check Out Our Latest Analysis on RYN
Rayonier 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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