Teacher Retirement System of Texas Purchases 8,918 Shares of Rayonier Inc. (NYSE:RYN)

Teacher Retirement System of Texas increased its holdings in Rayonier Inc. (NYSE:RYN) by 43.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,283 shares of the real estate investment trust’s stock after purchasing an additional 8,918 shares during the period. Teacher Retirement System of Texas’ holdings in Rayonier were worth $764,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Harvest Fund Management Co. Ltd purchased a new position in shares of Rayonier in the 4th quarter worth $25,000. Xponance Inc. lifted its holdings in shares of Rayonier by 18.5% in the 4th quarter. Xponance Inc. now owns 17,732 shares of the real estate investment trust’s stock valued at $463,000 after acquiring an additional 2,773 shares during the last quarter. Cibc World Markets Corp grew its position in Rayonier by 4.9% in the fourth quarter. Cibc World Markets Corp now owns 37,157 shares of the real estate investment trust’s stock worth $970,000 after acquiring an additional 1,724 shares in the last quarter. Swiss National Bank increased its stake in Rayonier by 5.9% during the fourth quarter. Swiss National Bank now owns 292,382 shares of the real estate investment trust’s stock worth $7,631,000 after acquiring an additional 16,282 shares during the last quarter. Finally, HighTower Advisors LLC raised its position in Rayonier by 3.4% during the fourth quarter. HighTower Advisors LLC now owns 66,571 shares of the real estate investment trust’s stock valued at $1,738,000 after purchasing an additional 2,168 shares during the period. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Rayonier Stock Down 0.1 %

Shares of NYSE:RYN opened at $27.83 on Monday. The business’s 50 day moving average is $26.65 and its 200 day moving average is $28.79. The stock has a market cap of $4.34 billion, a P/E ratio of 11.79 and a beta of 1.00. Rayonier Inc. has a 52-week low of $24.88 and a 52-week high of $31.62. The company has a quick ratio of 1.85, a current ratio of 1.12 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 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.08. Rayonier had a net margin of 28.44% and a return on equity of 3.86%. Sell-side analysts predict that Rayonier Inc. will post 0.55 EPS for the current year.

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 paid a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend is Monday, March 17th. Rayonier’s dividend payout ratio (DPR) is currently 46.19%.

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.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Royal Bank of Canada dropped their target price on Rayonier from $33.00 to $30.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. StockNews.com upgraded Rayonier from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Raymond James upgraded shares of Rayonier from a “market perform” rating to an “outperform” rating and set a $31.00 price objective on the stock in a research report on Wednesday, March 12th. Truist Financial reduced their target price on shares of Rayonier from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Monday, January 6th. Finally, Citigroup dropped their price target on shares of Rayonier from $32.00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Rayonier currently has a consensus rating of “Hold” and a consensus target price of $29.00.

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.