Federated Hermes Inc. Sells 1,178 Shares of Rayonier Inc. (NYSE:RYN)

Federated Hermes Inc. lessened its position in shares of Rayonier Inc. (NYSE:RYN) by 9.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 11,694 shares of the real estate investment trust’s stock after selling 1,178 shares during the period. Federated Hermes Inc.’s holdings in Rayonier were worth $391,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Millburn Ridgefield Corp acquired a new stake in Rayonier during the third quarter worth approximately $26,000. Fifth Third Bancorp grew its position in shares of Rayonier by 84.7% during the 3rd quarter. Fifth Third Bancorp now owns 1,919 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 880 shares during the period. Adams Asset Advisors LLC bought a new stake in shares of Rayonier in the 4th quarter valued at $234,000. Laurion Capital Management LP bought a new position in Rayonier during the third quarter worth $220,000. Finally, Mackenzie Financial Corp acquired a new stake in Rayonier in the third quarter worth $227,000. Institutional investors and hedge funds own 89.12% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. StockNews.com raised shares of Rayonier from a “hold” rating to a “buy” rating in a research report on Thursday. TheStreet upgraded Rayonier from a “c+” rating to a “b-” rating in a report on Friday, February 16th. Finally, Royal Bank of Canada boosted their price objective on Rayonier from $34.00 to $35.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. Two investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Rayonier presently has an average rating of “Hold” and a consensus price target of $34.50.

Rayonier Stock Down 0.2 %

Shares of NYSE RYN opened at $29.36 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.46 and a quick ratio of 2.04. The company has a 50-day moving average price of $32.36 and a 200-day moving average price of $31.47. The stock has a market capitalization of $4.36 billion, a P/E ratio of 26.21 and a beta of 1.09. Rayonier Inc. has a 1 year low of $24.84 and a 1 year high of $35.29.

Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. The business had revenue of $168.10 million for the quarter, compared to analysts’ expectations of $190.04 million. Rayonier had a net margin of 15.92% and a return on equity of 3.21%. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.01 EPS. On average, equities research analysts forecast that Rayonier Inc. will post 0.48 EPS for the current fiscal year.

Rayonier Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given 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 3.88%. Rayonier’s payout ratio is 101.79%.

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.