Rayonier Inc. (NYSE:RYN) Stock Holdings Cut by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC cut its position in shares of Rayonier Inc. (NYSE:RYN) by 4.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 27,910 shares of the real estate investment trust’s stock after selling 1,347 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Rayonier were worth $728,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of RYN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings 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 acquiring an additional 249,173 shares during the period. Firetrail Investments PTY Ltd. boosted its position 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 valued at $10,072,000 after purchasing an additional 138,203 shares in the last quarter. Global Alpha Capital Management Ltd. grew its stake in shares of Rayonier by 11.3% in 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. State Street Corp raised its holdings 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 worth $137,715,000 after purchasing an additional 104,464 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Rayonier by 87.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 161,130 shares of the real estate investment trust’s stock worth $5,185,000 after purchasing an additional 75,258 shares in the last quarter. Institutional investors own 89.12% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. StockNews.com upgraded shares of Rayonier from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Raymond James upgraded Rayonier from a “market perform” rating to an “outperform” rating and set a $31.00 target price on the stock in a report on Wednesday, March 12th. Truist Financial cut their target price on Rayonier from $32.00 to $30.00 and set a “hold” rating on the stock in a research report on Monday, January 6th. Royal Bank of Canada decreased their price target on 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, Citigroup cut their price objective on Rayonier from $32.00 to $25.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Rayonier presently has an average rating of “Hold” and an average target price of $29.00.

Rayonier Price Performance

Shares of NYSE:RYN opened at $28.04 on Thursday. The company’s fifty day moving average is $26.74 and its two-hundred day moving average is $28.73. The company has a market cap of $4.38 billion, a P/E ratio of 11.88 and a beta of 1.00. Rayonier Inc. has a 12-month low of $24.88 and a 12-month high of $31.29. 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 posted its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.27 earnings per share 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%. Equities analysts expect that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.

Rayonier Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a dividend yield of 3.89%. The ex-dividend date of this dividend was Monday, March 17th. Rayonier’s dividend payout ratio is currently 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.