Rhumbline Advisers Increases Position in Rayonier Inc. (NYSE:RYN)

Rhumbline Advisers raised its holdings in shares of Rayonier Inc. (NYSE:RYN) by 0.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 421,773 shares of the real estate investment trust’s stock after purchasing an additional 1,279 shares during the quarter. Rhumbline Advisers owned 0.28% of Rayonier worth $11,008,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in RYN. State of Alaska Department of Revenue increased its stake in Rayonier by 3.8% in the 4th quarter. State of Alaska Department of Revenue now owns 89,658 shares of the real estate investment trust’s stock worth $2,339,000 after buying an additional 3,304 shares during the period. Brown Lisle Cummings Inc. grew its stake in Rayonier by 17.3% in the 4th quarter. Brown Lisle Cummings Inc. now owns 9,824 shares of the real estate investment trust’s stock worth $256,000 after acquiring an additional 1,452 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Rayonier by 0.6% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 179,080 shares of the real estate investment trust’s stock worth $4,674,000 after acquiring an additional 1,000 shares during the period. Pacer Advisors Inc. raised its stake in shares of Rayonier by 2.3% during the fourth quarter. Pacer Advisors Inc. now owns 19,993 shares of the real estate investment trust’s stock valued at $522,000 after acquiring an additional 442 shares in the last quarter. Finally, KBC Group NV raised its stake in shares of Rayonier by 61.1% during the fourth quarter. KBC Group NV now owns 6,460 shares of the real estate investment trust’s stock valued at $169,000 after acquiring an additional 2,449 shares in the last quarter. 89.12% of the stock is currently owned by institutional investors.

Rayonier Stock Performance

Shares of NYSE:RYN opened at $25.90 on Monday. The firm has a 50 day moving average of $26.12 and a 200 day moving average of $29.27. 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 capitalization of $3.86 billion, a price-to-earnings ratio of 10.97 and a beta of 1.03. Rayonier Inc. has a 52 week low of $24.88 and a 52 week high of $35.29.

Rayonier (NYSE:RYN) last released its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.27 EPS for the quarter, topping the consensus estimate of $0.19 by $0.08. Rayonier had a return on equity of 3.86% and a net margin of 28.44%. On average, sell-side analysts predict that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.

Rayonier Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a dividend yield of 4.21%. The ex-dividend date of this dividend is Monday, March 17th. Rayonier’s payout ratio is 48.31%.

Rayonier declared that its Board of Directors has initiated a share repurchase program on Monday, December 2nd that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to reacquire up to 6.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have commented on RYN shares. Royal Bank of Canada reduced their price objective on Rayonier from $33.00 to $30.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. StockNews.com raised Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Citigroup decreased their price objective on Rayonier from $32.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Finally, Truist Financial dropped their target price on shares of Rayonier from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Monday, January 6th.

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.