Charles Schwab Investment Management Inc. Raises Position in Rayonier Inc. (NYSE:RYN)

Charles Schwab Investment Management Inc. raised its stake in Rayonier Inc. (NYSE:RYN) by 1.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,488,802 shares of the real estate investment trust’s stock after purchasing an additional 46,956 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.67% of Rayonier worth $64,958,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Venturi Wealth Management LLC increased its position in shares of Rayonier by 165.1% during the third quarter. Venturi Wealth Management LLC now owns 1,079 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 672 shares during the last quarter. UMB Bank n.a. increased its position in shares of 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 valued at $37,000 after acquiring an additional 525 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of Rayonier by 264.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,677 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 1,217 shares during the last quarter. GAMMA Investing LLC increased 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 valued at $45,000 after acquiring an additional 511 shares during the last quarter. Finally, Covestor Ltd increased 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 valued at $57,000 after acquiring an additional 1,026 shares during the last quarter. 89.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RYN has been the subject of a number of research analyst reports. Citigroup decreased their price target on Rayonier from $32.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. StockNews.com raised Rayonier from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Truist Financial decreased their target price on Rayonier from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Monday, January 6th. Royal Bank of Canada decreased their target price 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, Raymond James raised Rayonier from a “market perform” rating to an “outperform” rating and set a $31.00 target price for the company in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Rayonier has an average rating of “Hold” and a consensus target price of $29.00.

Rayonier Price Performance

Rayonier stock opened at $27.22 on Thursday. Rayonier Inc. has a one year low of $24.88 and a one year high of $32.92. The business has a fifty day moving average price of $26.20 and a 200-day moving average price of $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. The firm has a market capitalization of $4.25 billion, a P/E ratio of 11.54 and a beta of 1.00.

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

Rayonier Cuts Dividend

The business also recently declared 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. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date is Monday, March 17th. Rayonier’s payout ratio is currently 46.19%.

Rayonier announced 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 buy up to 6.4% of its shares through open market purchases. Shares buyback plans are usually 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.