Mutual of America Capital Management LLC Sells 4,367 Shares of Rayonier Inc. (NYSE:RYN)

Mutual of America Capital Management LLC reduced its position in Rayonier Inc. (NYSE:RYN) by 4.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,429 shares of the real estate investment trust’s stock after selling 4,367 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Rayonier were worth $2,821,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in RYN. Vanguard Group Inc. raised its holdings in Rayonier by 2.0% in the third quarter. Vanguard Group Inc. now owns 21,486,063 shares of the real estate investment trust’s stock worth $643,938,000 after purchasing an additional 418,687 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Rayonier by 2.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 16,837,099 shares of the real estate investment trust’s stock worth $560,003,000 after purchasing an additional 322,755 shares in the last quarter. BlackRock Inc. raised its holdings in Rayonier by 0.7% in the first quarter. BlackRock Inc. now owns 13,769,910 shares of the real estate investment trust’s stock worth $566,221,000 after purchasing an additional 89,742 shares in the last quarter. Norges Bank bought a new position in Rayonier in the fourth quarter worth about $376,137,000. Finally, State Street Corp raised its holdings in Rayonier by 2.3% in the first quarter. State Street Corp now owns 4,134,483 shares of the real estate investment trust’s stock worth $137,513,000 after purchasing an additional 92,082 shares in the last quarter. 89.12% of the stock is currently owned by institutional investors.

Rayonier Trading Down 0.1 %

NYSE:RYN opened at $30.25 on Friday. The company has a current ratio of 2.26, a quick ratio of 2.04 and a debt-to-equity ratio of 0.73. The firm has a fifty day simple moving average of $33.07 and a 200-day simple moving average of $31.27. Rayonier Inc. has a 12 month low of $24.84 and a 12 month high of $35.29. The company has a market capitalization of $4.50 billion, a P/E ratio of 25.85 and a beta of 1.07.

Rayonier (NYSE:RYN) last issued its earnings results on Wednesday, January 31st. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, hitting 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 quarter last year, the company posted $0.11 earnings per share. On average, equities research analysts anticipate that Rayonier Inc. will post 0.48 earnings per share for the current year.

Rayonier Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $0.285 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.14 annualized dividend and a dividend yield of 3.77%. Rayonier’s dividend payout ratio (DPR) is presently 97.44%.

Wall Street Analysts Forecast Growth

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

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