Raymond James & Associates Cuts Stock Position in Rayonier Inc. (NYSE:RYN)

Raymond James & Associates cut its stake in Rayonier Inc. (NYSE:RYNFree Report) by 3.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,156 shares of the real estate investment trust’s stock after selling 1,979 shares during the period. Raymond James & Associates’ holdings in Rayonier were worth $1,943,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Millburn Ridgefield Corp acquired a new stake in Rayonier in the 3rd quarter worth approximately $26,000. Neo Ivy Capital Management acquired a new stake in Rayonier in the 2nd quarter worth approximately $51,000. Fifth Third Bancorp boosted its stake in Rayonier by 84.7% in the 3rd quarter. Fifth Third Bancorp now owns 1,919 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 880 shares in the last quarter. Point72 Middle East FZE acquired a new stake in Rayonier in the 4th quarter worth approximately $82,000. Finally, Captrust Financial Advisors acquired a new stake in Rayonier in the 2nd quarter worth approximately $105,000. 89.12% of the stock is currently owned by institutional investors and hedge funds.

Rayonier Stock Performance

RYN opened at $30.30 on Thursday. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.26 and a quick ratio of 2.04. The firm has a fifty day moving average price of $33.12 and a 200 day moving average price of $31.28. Rayonier Inc. has a 1 year low of $24.84 and a 1 year high of $35.29. The stock has a market cap of $4.50 billion, a P/E ratio of 25.90 and a beta of 1.07.

Rayonier (NYSE:RYNGet Free Report) last posted its earnings results on Wednesday, January 31st. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. Rayonier had a net margin of 16.41% and a return on equity of 2.89%. The firm had revenue of $467.40 million during the quarter, compared to analysts’ expectations of $235.94 million. During the same period in the previous year, the business posted $0.11 EPS. Equities research analysts anticipate that Rayonier Inc. will post 0.48 earnings per share for the current year.

Rayonier Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 3.76%. The ex-dividend date was Wednesday, March 13th. Rayonier’s dividend payout ratio is currently 97.44%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. TheStreet upgraded shares of Rayonier from a “c+” rating to a “b-” rating in a research note on Friday, February 16th. Truist Financial lifted their price objective on shares of Rayonier from $33.00 to $34.00 and gave the company a “hold” rating in a research note on Thursday, January 4th. Royal Bank of Canada lifted their price objective on shares of Rayonier from $34.00 to $35.00 and gave the company a “sector perform” rating in a research note on Friday, February 2nd. Finally, StockNews.com upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research note on Monday, February 26th. Three analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $34.50.

Check Out Our Latest Analysis on RYN

Rayonier Profile

(Free Report)

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

See Also

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Institutional Ownership by Quarter for Rayonier (NYSE:RYN)

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