Wealthfront Advisers LLC Invests $1.25 Million in Rayonier Inc. (NYSE:RYN)

Wealthfront Advisers LLC acquired a new position 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 acquired 47,935 shares of the real estate investment trust's stock, valued at approximately $1,251,000.

Other large investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Rayonier by 16.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,070 shares of the real estate investment trust's stock valued at $941,000 after buying an additional 5,145 shares during the last quarter. Amundi increased its holdings in Rayonier by 27.8% in the fourth quarter. Amundi now owns 108,641 shares of the real estate investment trust's stock valued at $2,795,000 after buying an additional 23,641 shares during the last quarter. Global Alpha Capital Management Ltd. increased its holdings in Rayonier by 11.3% in 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 buying an additional 116,800 shares during the last quarter. Inceptionr LLC increased its holdings in Rayonier by 61.7% in the fourth quarter. Inceptionr LLC now owns 16,569 shares of the real estate investment trust's stock valued at $432,000 after buying an additional 6,323 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Rayonier in the fourth quarter valued at $1,455,000. Hedge funds and other institutional investors own 89.12% of the company's stock.

Rayonier Stock Performance

NYSE RYN traded up $0.04 during trading hours on Wednesday, hitting $28.10. 994,399 shares of the stock were exchanged, compared to its average volume of 699,023. Rayonier Inc. has a 12-month low of $24.88 and a 12-month high of $32.05. 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 company has a market cap of $4.39 billion, a price-to-earnings ratio of 11.91 and a beta of 1.00. The stock has a 50-day moving average of $26.32 and a 200 day moving average of $28.95.

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Rayonier (NYSE:RYN - Get Free Report) last issued 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 net margin of 28.44% and a return on equity of 3.86%. As a group, equities research analysts forecast that Rayonier Inc. will post 0.55 earnings per share for the current year.

Rayonier declared that its Board of Directors has authorized a share buyback program on Monday, December 2nd that allows the company to buyback $300.00 million in shares. This buyback authorization allows the real estate investment trust to purchase up to 6.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board of directors believes its stock is undervalued.

Rayonier Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a dividend of $0.2725 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.09 dividend on an annualized basis and a dividend yield of 3.88%. Rayonier's dividend payout ratio (DPR) is 46.19%.

Analysts Set New Price Targets

RYN has been the subject of several recent research reports. 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 decreased their target price on shares of Rayonier from $33.00 to $30.00 and set a "sector perform" rating for the company in a research note on Friday, February 7th. Citigroup decreased their target price on shares of Rayonier from $32.00 to $25.00 and set a "neutral" rating for the company in a research note on Wednesday, January 15th. Truist Financial cut their price target on shares of Rayonier from $32.00 to $30.00 and set a "hold" rating for the company in a report on Monday, January 6th. Finally, Raymond James raised shares of Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 price target for the company in a report on Wednesday, March 12th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $29.00.

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.