Rayonier Inc. (NYSE:RYN) Shares Acquired by US Bancorp DE

US Bancorp DE boosted its holdings in Rayonier Inc. (NYSE:RYN) by 15.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,139 shares of the real estate investment trust’s stock after acquiring an additional 1,807 shares during the period. US Bancorp DE’s holdings in Rayonier were worth $343,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. State Street Corp lifted its holdings in Rayonier by 2.5% in the third quarter. State Street Corp now owns 4,279,512 shares of the real estate investment trust’s stock valued at $137,715,000 after acquiring an additional 104,464 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Rayonier by 26.2% in the third 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 acquiring an additional 695,810 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Rayonier by 0.3% in the third 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 acquiring an additional 7,733 shares during the last quarter. Global Alpha Capital Management Ltd. lifted its holdings in Rayonier by 2.9% in the third 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 acquiring an additional 28,800 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Rayonier by 119.7% during the third 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 purchasing an additional 249,173 shares in the last quarter. 89.12% of the stock is currently owned by institutional investors and hedge funds.

Rayonier Stock Performance

NYSE:RYN opened at $27.23 on Friday. The firm has a market capitalization of $4.25 billion, a PE ratio of 11.54 and a beta of 1.00. The business’s fifty day moving average price is $26.20 and its 200 day moving average price is $29.04. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.12 and a quick ratio of 1.85. Rayonier Inc. has a 12 month low of $24.88 and a 12 month high of $32.10.

Rayonier (NYSE:RYN) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.27 EPS for the quarter, beating 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 anticipate that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.

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

Rayonier Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a $0.2725 dividend. This represents a $1.09 annualized dividend and a yield of 4.00%. The ex-dividend date of this dividend is Monday, March 17th. Rayonier’s dividend payout ratio (DPR) is presently 46.19%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on RYN shares. Truist Financial decreased their price target on Rayonier from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Monday, January 6th. StockNews.com upgraded Rayonier from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Raymond James upgraded Rayonier from a “market perform” rating to an “outperform” rating and set a $31.00 price target on the stock in a research note on Wednesday. Citigroup decreased their price target on Rayonier from $32.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Finally, Royal Bank of Canada cut 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. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price 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.