Zurcher Kantonalbank Zurich Cantonalbank Has $1.10 Million Stake in Rayonier Inc. (NYSE:RYN)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Rayonier Inc. (NYSE:RYN) by 12.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,933 shares of the real estate investment trust’s stock after acquiring an additional 3,583 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Rayonier were worth $1,100,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Rayonier during the third quarter worth $914,000. J.P. Morgan Private Wealth Advisors LLC raised its holdings in shares of Rayonier by 66.2% during the third quarter. J.P. Morgan Private Wealth Advisors LLC now owns 228,879 shares of the real estate investment trust’s stock worth $6,514,000 after acquiring an additional 91,141 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of Rayonier during the third quarter worth $393,000. Nisa Investment Advisors LLC raised its holdings in shares of Rayonier by 1.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 102,791 shares of the real estate investment trust’s stock worth $3,434,000 after acquiring an additional 1,435 shares during the period. Finally, Natixis Advisors L.P. raised its holdings in shares of Rayonier by 100.2% during the third quarter. Natixis Advisors L.P. now owns 23,395 shares of the real estate investment trust’s stock worth $666,000 after acquiring an additional 11,710 shares during the period. 89.12% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Rayonier Stock Up 0.1 %

Shares of RYN stock opened at $30.16 on Friday. The firm’s fifty day moving average price is $32.73 and its two-hundred day moving average price is $31.41. Rayonier Inc. has a 1 year low of $24.84 and a 1 year high of $35.29. The firm has a market capitalization of $4.48 billion, a P/E ratio of 25.78 and a beta of 1.07. The company has a current ratio of 2.26, a quick ratio of 2.04 and a debt-to-equity ratio of 0.73.

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

Rayonier Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date was Wednesday, March 13th. Rayonier’s dividend payout ratio (DPR) is presently 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.