Victory Capital Management Inc. Trims Stake in Rayonier Inc. (NYSE:RYN)

Victory Capital Management Inc. lessened its position in Rayonier Inc. (NYSE:RYN - Free Report) by 19.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,210,495 shares of the real estate investment trust's stock after selling 517,415 shares during the quarter. Victory Capital Management Inc. owned approximately 1.48% of Rayonier worth $57,694,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Venturi Wealth Management LLC lifted its position in Rayonier by 165.1% during the third quarter. Venturi Wealth Management LLC now owns 1,079 shares of the real estate investment trust's stock valued at $35,000 after buying an additional 672 shares during the period. UMB Bank n.a. increased its stake in shares of Rayonier by 59.7% in the 4th quarter. UMB Bank n.a. now owns 1,404 shares of the real estate investment trust's stock worth $37,000 after acquiring an additional 525 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its position in Rayonier by 264.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,677 shares of the real estate investment trust's stock valued at $44,000 after acquiring an additional 1,217 shares during the period. GAMMA Investing LLC boosted its stake in Rayonier by 41.8% during the fourth quarter. GAMMA Investing LLC now owns 1,733 shares of the real estate investment trust's stock worth $45,000 after acquiring an additional 511 shares in the last quarter. Finally, Covestor Ltd grew its holdings in Rayonier by 135.7% in the third quarter. Covestor Ltd now owns 1,782 shares of the real estate investment trust's stock worth $57,000 after purchasing an additional 1,026 shares during the period. 89.12% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on RYN. StockNews.com upgraded shares of Rayonier from a "hold" rating to a "buy" rating in a report on Monday, February 24th. Truist Financial dropped their target price on Rayonier from $32.00 to $30.00 and set a "hold" rating on the stock in a report on Monday, January 6th. 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. Finally, Royal Bank of Canada lowered their price target 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.

Rayonier Stock Up 0.6 %

Shares of RYN traded up $0.16 on Tuesday, hitting $27.35. 1,213,262 shares of the stock traded hands, compared to its average volume of 685,924. Rayonier Inc. has a one year low of $24.88 and a one year high of $33.44. The company has a market capitalization of $4.27 billion, a PE ratio of 11.59 and a beta of 1.00. The business has a 50 day simple moving average of $26.15 and a 200 day simple moving average of $29.08. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.85 and a current ratio of 1.12.

Rayonier (NYSE:RYN - Get Free Report) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.27 EPS for the quarter, topping 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, equities analysts forecast that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.

Rayonier announced that its Board of Directors has initiated a share repurchase plan on Monday, December 2nd that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to reacquire up to 6.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its stock is undervalued.

Rayonier Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date is Monday, March 17th. Rayonier's dividend payout ratio (DPR) is 46.19%.

Rayonier Company 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.