Rayonier Inc. (NYSE:RYN) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its position in shares of Rayonier Inc. (NYSE:RYN) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,837 shares of the real estate investment trust’s stock after selling 1,629 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Rayonier were worth $1,849,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Venturi Wealth Management LLC raised its holdings in Rayonier by 165.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,079 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 672 shares during the period. UMB Bank n.a. increased its stake in Rayonier by 59.7% during the fourth quarter. UMB Bank n.a. now owns 1,404 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 525 shares during the period. GAMMA Investing LLC grew its position in shares of Rayonier by 41.8% during the fourth quarter. GAMMA Investing LLC now owns 1,733 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 511 shares in the last quarter. Covestor Ltd grew its position in shares of Rayonier by 135.7% during the third quarter. Covestor Ltd now owns 1,782 shares of the real estate investment trust’s stock worth $57,000 after buying an additional 1,026 shares in the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new position in Rayonier in the third quarter valued at approximately $75,000. Institutional investors and hedge funds own 89.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RYN. Citigroup lowered their price target on Rayonier from $32.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. StockNews.com upgraded Rayonier from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Royal Bank of Canada cut their price objective 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, Truist Financial dropped their price target on Rayonier from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Monday, January 6th.

Rayonier Stock Up 1.6 %

RYN opened at $27.31 on Friday. The company has a quick ratio of 1.85, a current ratio of 1.12 and a debt-to-equity ratio of 0.61. The firm has a market cap 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. The business’s fifty day simple moving average is $26.12 and its 200 day simple moving average is $29.09.

Rayonier (NYSE:RYN) last issued 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 return on equity of 3.86% and a net margin of 28.44%. As a group, equities research analysts anticipate that Rayonier Inc. will post 0.55 EPS for the current fiscal year.

Rayonier Cuts Dividend

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

Rayonier announced that its Board of Directors has approved a stock repurchase plan on Monday, December 2nd that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to purchase up to 6.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

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.