Allspring Global Investments Holdings LLC Has $576,000 Stock Position in Rayonier Inc. (NYSE:RYN)

Allspring Global Investments Holdings LLC decreased its position in shares of Rayonier Inc. (NYSE:RYN) by 28.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,350 shares of the real estate investment trust’s stock after selling 7,385 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Rayonier were worth $576,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of RYN. Norges Bank acquired a new stake in Rayonier during the fourth quarter valued at $376,137,000. Victory Capital Management Inc. boosted its position in Rayonier by 18.2% during the fourth quarter. Victory Capital Management Inc. now owns 3,390,520 shares of the real estate investment trust’s stock valued at $111,752,000 after purchasing an additional 522,801 shares during the last quarter. Vanguard Group Inc. boosted its position in Rayonier by 2.0% during the third quarter. Vanguard Group Inc. now owns 21,486,063 shares of the real estate investment trust’s stock valued at $643,938,000 after purchasing an additional 418,687 shares during the last quarter. Northern Trust Corp boosted its position in Rayonier by 31.3% during the first quarter. Northern Trust Corp now owns 1,450,004 shares of the real estate investment trust’s stock valued at $59,624,000 after purchasing an additional 345,821 shares during the last quarter. Finally, Impax Asset Management Group plc raised its holdings in Rayonier by 6.0% during the first quarter. Impax Asset Management Group plc now owns 5,819,485 shares of the real estate investment trust’s stock valued at $192,742,000 after buying an additional 331,783 shares in the last quarter. Institutional investors and hedge funds own 82.75% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Rayonier from a “sell” rating to a “hold” rating in a report on Monday. Three research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $34.50.

Rayonier Price Performance

NYSE RYN opened at $28.23 on Friday. Rayonier Inc. has a fifty-two week low of $24.84 and a fifty-two week high of $37.79. The stock’s 50-day moving average is $27.96 and its two-hundred day moving average is $29.77. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.02 and a quick ratio of 1.61. The firm has a market cap of $4.19 billion, a P/E ratio of 52.28 and a beta of 1.00.

Rayonier (NYSE:RYN) last announced its earnings results on Wednesday, November 1st. The real estate investment trust reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.01. Rayonier had a return on equity of 2.41% and a net margin of 9.53%. The firm had revenue of $201.60 million during the quarter, compared to the consensus estimate of $207.63 million. During the same quarter in the prior year, the company earned $0.15 EPS. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, analysts anticipate that Rayonier Inc. will post 0.35 earnings per share for the current fiscal year.

Rayonier Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a $0.285 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.14 annualized dividend and a yield of 4.04%. Rayonier’s dividend payout ratio is 211.12%.

Rayonier Company 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 June 30, 2023, Rayonier owned or leased under long-term agreements approximately 2.8 million acres of timberlands located in the U.S.