New York State Teachers Retirement System Lowers Position in Rayonier Inc. (NYSE:RYN)

New York State Teachers Retirement System decreased its holdings in shares of Rayonier Inc. (NYSE:RYNFree Report) by 1.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 157,554 shares of the real estate investment trust’s stock after selling 2,700 shares during the quarter. New York State Teachers Retirement System owned about 0.11% of Rayonier worth $4,112,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Venturi Wealth Management LLC increased 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 acquiring an additional 672 shares during the last quarter. UMB Bank n.a. grew its holdings in Rayonier by 59.7% during 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. Blue Trust Inc. grew its holdings in Rayonier by 539.9% during the 3rd quarter. Blue Trust Inc. now owns 1,235 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 1,042 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Rayonier by 41.8% during the fourth quarter. GAMMA Investing LLC now owns 1,733 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 511 shares during the last quarter. Finally, Covestor Ltd lifted its position in shares of Rayonier by 135.7% during the third quarter. Covestor Ltd now owns 1,782 shares of the real estate investment trust’s stock valued at $57,000 after buying an additional 1,026 shares during the last quarter. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on RYN shares. Truist Financial decreased their price target on shares of Rayonier from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Monday, January 6th. Citigroup dropped their price objective 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. Royal Bank of Canada dropped their price target on shares of Rayonier from $33.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Friday, February 7th. Finally, StockNews.com upgraded Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, November 16th.

Get Our Latest Stock Report on RYN

Rayonier Stock Up 1.5 %

NYSE RYN opened at $26.13 on Friday. Rayonier Inc. has a 52 week low of $24.88 and a 52 week high of $35.29. 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 business’s fifty day simple moving average is $26.18 and its 200-day simple moving average is $29.33. The firm has a market cap of $3.89 billion, a PE ratio of 11.07 and a beta of 1.03.

Rayonier (NYSE:RYNGet Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.27 earnings per share (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 anticipate that Rayonier Inc. will post 0.58 earnings per share for the current year.

Rayonier Cuts Dividend

The company 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 annualized dividend and a yield of 4.17%. The ex-dividend date is Monday, March 17th. Rayonier’s dividend payout ratio is currently 48.31%.

Rayonier declared that its board has authorized a stock repurchase plan on Monday, December 2nd that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the real estate investment trust to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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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Institutional Ownership by Quarter for Rayonier (NYSE:RYN)

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