Raymond James Financial Services Advisors Inc. Reduces Stake in Rayonier Inc. (NYSE:RYN)

Raymond James Financial Services Advisors Inc. reduced its stake in Rayonier Inc. (NYSE:RYN) by 5.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,907 shares of the real estate investment trust’s stock after selling 495 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Rayonier were worth $298,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in RYN. Millburn Ridgefield Corp purchased a new stake in Rayonier in the 3rd quarter valued at $26,000. Fifth Third Bancorp grew its holdings 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 valued at $55,000 after buying an additional 880 shares in the last quarter. Laurion Capital Management LP purchased a new stake in Rayonier in the 3rd quarter valued at $220,000. Mackenzie Financial Corp purchased a new stake in Rayonier in the 3rd quarter valued at $227,000. Finally, Adams Asset Advisors LLC purchased a new stake in Rayonier in the 4th quarter valued at $234,000. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

Rayonier Price Performance

RYN opened at $30.49 on Tuesday. The stock’s 50-day moving average price is $32.97 and its 200 day moving average price is $31.36. Rayonier Inc. has a 12-month low of $24.84 and a 12-month high of $35.29. 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 market cap of $4.53 billion, a price-to-earnings ratio of 26.06 and a beta of 1.07.

Rayonier (NYSE:RYN) last posted 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 return on equity of 2.89% and a net margin of 16.41%. The firm had revenue of $467.40 million for the quarter, compared to analyst estimates of $235.94 million. During the same quarter in the prior year, the company earned $0.11 EPS. As a group, sell-side analysts expect that Rayonier Inc. will post 0.48 earnings per share for the current year.

Rayonier Announces Dividend

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

Analyst Upgrades and Downgrades

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

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.