Louisiana State Employees Retirement System Invests $1.28 Million in Rayonier Inc. (NYSE:RYN)

Louisiana State Employees Retirement System bought a new position in Rayonier Inc. (NYSE:RYN) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 38,300 shares of the real estate investment trust’s stock, valued at approximately $1,280,000.

Several other hedge funds also recently made changes to their positions in the company. Cerity Partners LLC lifted its stake in shares of Rayonier by 4.4% in the 4th quarter. Cerity Partners LLC now owns 35,641 shares of the real estate investment trust’s stock worth $1,196,000 after acquiring an additional 1,505 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Rayonier by 3,240.9% in the fourth quarter. International Assets Investment Management LLC now owns 17,640 shares of the real estate investment trust’s stock valued at $589,000 after purchasing an additional 17,112 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Rayonier by 1.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 102,791 shares of the real estate investment trust’s stock valued at $3,434,000 after purchasing an additional 1,435 shares during the period. Leavell Investment Management Inc. lifted its stake in shares of Rayonier by 1.0% in the fourth quarter. Leavell Investment Management Inc. now owns 38,352 shares of the real estate investment trust’s stock valued at $1,289,000 after purchasing an additional 363 shares during the period. Finally, Pacer Advisors Inc. lifted its stake in shares of Rayonier by 145.9% in the fourth quarter. Pacer Advisors Inc. now owns 28,200 shares of the real estate investment trust’s stock valued at $942,000 after purchasing an additional 16,730 shares during the period. Institutional investors and hedge funds own 89.12% of the company’s stock.

Analyst Upgrades and Downgrades

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

Rayonier Stock Performance

Shares of NYSE RYN opened at $30.49 on Tuesday. The company has a market cap of $4.53 billion, a PE ratio of 26.06 and a beta of 1.07. Rayonier Inc. has a 12 month low of $24.84 and a 12 month high of $35.29. 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 company has a 50-day simple moving average of $32.97 and a 200-day simple moving average of $31.36.

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

Rayonier Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.285 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.14 dividend on an annualized basis and a yield of 3.74%. Rayonier’s payout ratio is 97.44%.

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 December 31, 2023, Rayonier owned or leased under long-term agreements approximately 2.7 million acres of timberlands located in the U.S.