Swiss National Bank Increases Stake in Rayonier Inc. (NYSE:RYN)

Swiss National Bank increased its position in Rayonier Inc. (NYSE:RYN - Free Report) by 5.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 292,382 shares of the real estate investment trust's stock after purchasing an additional 16,282 shares during the period. Swiss National Bank owned approximately 0.20% of Rayonier worth $7,631,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. HighTower Advisors LLC lifted its position in shares of Rayonier by 3.4% during the 4th quarter. HighTower Advisors LLC now owns 66,571 shares of the real estate investment trust's stock worth $1,738,000 after buying an additional 2,168 shares in the last quarter. Wealthfront Advisers LLC bought a new position in Rayonier during the fourth quarter valued at $1,251,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Rayonier by 16.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,070 shares of the real estate investment trust's stock worth $941,000 after acquiring an additional 5,145 shares during the last quarter. Amundi increased its stake in shares of Rayonier by 27.8% in the fourth quarter. Amundi now owns 108,641 shares of the real estate investment trust's stock worth $2,795,000 after purchasing an additional 23,641 shares in the last quarter. Finally, Global Alpha Capital Management Ltd. lifted its stake in shares of Rayonier by 11.3% during the 4th quarter. Global Alpha Capital Management Ltd. now owns 1,150,927 shares of the real estate investment trust's stock valued at $30,039,000 after buying an additional 116,800 shares in the last quarter. Institutional investors and hedge funds own 89.12% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

RYN has been the subject of several recent research reports. Truist Financial reduced their price target on Rayonier from $32.00 to $30.00 and set a "hold" rating for the company in a research report on Monday, January 6th. Citigroup cut their price objective on shares of Rayonier from $32.00 to $25.00 and set a "neutral" rating for the company in a research report on Wednesday, January 15th. StockNews.com upgraded shares of Rayonier from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. Royal Bank of Canada lowered their price objective on Rayonier from $33.00 to $30.00 and set a "sector perform" rating on the stock in a research report on Friday, February 7th. Finally, Raymond James upgraded shares of Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 target price for the company in a research report on Wednesday, March 12th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $29.00.

Rayonier Trading Up 0.7 %

Rayonier stock traded up $0.21 during mid-day trading on Wednesday, hitting $27.68. The company's stock had a trading volume of 950,953 shares, compared to its average volume of 710,657. The stock has a market cap of $4.32 billion, a price-to-earnings ratio of 11.73 and a beta of 1.00. The business has a 50 day moving average price of $26.55 and a 200-day moving average price of $28.85. 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 $32.05.

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%. As a group, analysts forecast that Rayonier Inc. will post 0.55 EPS for the current year.

Rayonier Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a $0.2725 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.09 annualized dividend and a yield of 3.94%. Rayonier's payout ratio is 46.19%.

Rayonier announced that its board has approved a share repurchase program on Monday, December 2nd that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Rayonier Profile

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.