12,540 Shares in Rayonier Inc. (NYSE:RYN) Acquired by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. purchased a new position in shares of Rayonier Inc. (NYSE:RYN) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 12,540 shares of the real estate investment trust’s stock, valued at approximately $327,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp increased its stake in shares of Rayonier by 2.5% in the 3rd quarter. State Street Corp now owns 4,279,512 shares of the real estate investment trust’s stock valued at $137,715,000 after purchasing an additional 104,464 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Rayonier by 26.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,352,691 shares of the real estate investment trust’s stock valued at $107,890,000 after purchasing an additional 695,810 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Rayonier by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,441,846 shares of the real estate investment trust’s stock valued at $78,579,000 after purchasing an additional 7,733 shares during the last quarter. Global Alpha Capital Management Ltd. increased its stake in shares of Rayonier by 2.9% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 1,034,127 shares of the real estate investment trust’s stock valued at $33,278,000 after purchasing an additional 28,800 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Rayonier by 119.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 457,370 shares of the real estate investment trust’s stock worth $14,718,000 after acquiring an additional 249,173 shares during the last quarter. 89.12% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RYN has been the topic of a number of research reports. 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 research report on Friday, February 7th. Citigroup reduced their price objective on Rayonier from $32.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. StockNews.com upgraded Rayonier from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Finally, Truist Financial reduced their price objective on Rayonier from $32.00 to $30.00 and set a “hold” rating on the stock in a research report on Monday, January 6th.

Rayonier Stock Performance

Shares of RYN opened at $27.31 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.85 and a current ratio of 1.12. The stock has a 50 day moving average price of $26.12 and a two-hundred day moving average price of $29.09. The firm has a market capitalization of $4.26 billion, a P/E ratio of 11.57 and a beta of 1.00. Rayonier Inc. has a 52 week low of $24.88 and a 52 week high of $33.44.

Rayonier (NYSE:RYN) last issued its quarterly earnings data 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%. Equities analysts forecast that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.

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

Rayonier Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a yield of 3.99%. The ex-dividend date of this dividend is Monday, March 17th. Rayonier’s dividend payout ratio (DPR) is 46.19%.

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.