Rayonier Inc. (NYSE:RYN) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. cut its position in shares of Rayonier Inc. (NYSE:RYN - Free Report) by 0.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,406,590 shares of the real estate investment trust's stock after selling 30,676 shares during the period. Vanguard Group Inc. owned approximately 13.70% of Rayonier worth $532,612,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. State Street Corp grew its holdings in shares of Rayonier by 2.5% during the 3rd quarter. State Street Corp now owns 4,279,512 shares of the real estate investment trust's stock worth $137,715,000 after purchasing an additional 104,464 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Rayonier by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,488,802 shares of the real estate investment trust's stock worth $64,958,000 after buying an additional 46,956 shares during the period. Global Alpha Capital Management Ltd. increased its position in shares of Rayonier by 11.3% during the fourth 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 acquiring an additional 116,800 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Rayonier by 119.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 457,370 shares of the real estate investment trust's stock valued at $14,718,000 after acquiring an additional 249,173 shares during the period. Finally, Rhumbline Advisers lifted its holdings in shares of Rayonier by 0.3% in the 4th quarter. Rhumbline Advisers now owns 421,773 shares of the real estate investment trust's stock worth $11,008,000 after acquiring an additional 1,279 shares during the last quarter. 89.12% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

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

Rayonier Stock Down 4.7 %

Shares of NYSE:RYN traded down $1.28 on Friday, hitting $25.63. 783,161 shares of the company's stock were exchanged, compared to its average volume of 744,809. The company has a market capitalization of $4.00 billion, a PE ratio of 10.91 and a beta of 1.00. Rayonier Inc. has a 1-year low of $24.88 and a 1-year high of $31.29. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.85 and a current ratio of 1.12. The firm's 50-day moving average is $26.75 and its 200 day moving average is $28.72.

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

Rayonier Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date was Monday, March 17th. Rayonier's dividend payout ratio is currently 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.