Swiss National Bank Has $7.63 Million Position in Rayonier Inc. (NYSE:RYN)

Swiss National Bank grew its holdings in shares of Rayonier Inc. (NYSE:RYN) by 5.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 292,382 shares of the real estate investment trust’s stock after acquiring an additional 16,282 shares during the period. Swiss National Bank owned 0.20% of Rayonier worth $7,631,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Massachusetts Financial Services Co. MA lifted its position in 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 acquiring an additional 695,810 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of 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 buying an additional 249,173 shares in the last quarter. Firetrail Investments PTY Ltd. increased its stake in shares of Rayonier by 56.1% during the 4th quarter. Firetrail Investments PTY Ltd. now owns 384,490 shares of the real estate investment trust’s stock worth $10,072,000 after purchasing an additional 138,203 shares during the last quarter. Global Alpha Capital Management Ltd. increased its stake in shares of Rayonier by 11.3% during the 4th quarter. Global Alpha Capital Management Ltd. now owns 1,150,927 shares of the real estate investment trust’s stock worth $30,039,000 after purchasing an additional 116,800 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Rayonier by 2.5% during the 3rd quarter. State Street Corp now owns 4,279,512 shares of the real estate investment trust’s stock worth $137,715,000 after purchasing an additional 104,464 shares during the last quarter. 89.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Raymond James upgraded shares of Rayonier from a “market perform” rating to an “outperform” rating and set a $31.00 price objective for the company in a research note on Wednesday, March 12th. StockNews.com upgraded shares of Rayonier from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Citigroup cut their target price on shares of Rayonier from $32.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Royal Bank of Canada cut their price target on shares of Rayonier from $33.00 to $30.00 and set a “sector perform” rating for the company in a research report on Friday, February 7th. Finally, Truist Financial cut 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. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $29.00.

Rayonier Stock Performance

Shares of NYSE:RYN opened at $27.61 on Friday. Rayonier Inc. has a 12 month low of $24.88 and a 12 month high of $32.05. The company has a market cap of $4.31 billion, a price-to-earnings ratio of 11.70 and a beta of 1.00. The company has a 50-day moving average price of $26.47 and a 200-day moving average price of $28.91. 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 released its quarterly earnings results 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 net margin of 28.44% and a return on equity of 3.86%. As a group, equities analysts anticipate that Rayonier Inc. will post 0.55 EPS for the current year.

Rayonier Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued 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 3.95%. Rayonier’s payout ratio is 46.19%.

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

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.