State of New Jersey Common Pension Fund D Raises Holdings in Rayonier Inc. (NYSE:RYN)

State of New Jersey Common Pension Fund D raised its position in shares of Rayonier Inc. (NYSE:RYN) by 7.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,809 shares of the real estate investment trust’s stock after buying an additional 4,731 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Rayonier were worth $1,822,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Rhumbline Advisers boosted its holdings in Rayonier by 0.3% in the fourth quarter. Rhumbline Advisers now owns 421,773 shares of the real estate investment trust’s stock valued at $11,008,000 after purchasing an additional 1,279 shares during the period. State of Alaska Department of Revenue increased its position in shares of Rayonier by 3.8% during the fourth 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 purchasing an additional 3,304 shares in the last quarter. Brown Lisle Cummings Inc. grew its holdings in shares of Rayonier by 17.3% during the fourth quarter. Brown Lisle Cummings Inc. now owns 9,824 shares of the real estate investment trust’s stock worth $256,000 after buying an additional 1,452 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings 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 buying an additional 1,000 shares during the last quarter. Finally, Pacer Advisors Inc. grew its holdings 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 worth $522,000 after buying an additional 442 shares during the last quarter. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

Rayonier Price Performance

Shares of RYN opened at $26.29 on Wednesday. Rayonier Inc. has a twelve month low of $24.88 and a twelve month high of $35.29. The stock’s 50 day moving average is $26.04 and its two-hundred day moving average is $29.23. The firm has a market capitalization of $3.92 billion, a PE ratio of 11.14 and a beta of 1.03. The company has a current ratio of 1.12, a quick ratio of 1.85 and a debt-to-equity ratio of 0.61.

Rayonier (NYSE:RYN) last announced 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%. Research analysts anticipate that Rayonier Inc. will post 0.55 earnings per share for the current year.

Rayonier declared that its Board of Directors has initiated a stock buyback program on Monday, December 2nd that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the real estate investment trust to purchase up to 6.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Rayonier Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a dividend of $0.2725 per share. The ex-dividend date is Monday, March 17th. This represents a $1.09 annualized dividend and a dividend yield of 4.15%. Rayonier’s dividend payout ratio is currently 48.31%.

Analyst Ratings Changes

RYN has been the topic of a number of research reports. Citigroup lowered their price target on Rayonier from $32.00 to $25.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Truist Financial lowered their price target on Rayonier from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Monday, January 6th. StockNews.com raised Rayonier from a “hold” rating to a “buy” rating in a report on Monday. Finally, Royal Bank of Canada lowered 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.

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.