Retirement Systems of Alabama Purchases 550 Shares of Rayonier Inc. (NYSE:RYN)

Retirement Systems of Alabama increased its position in Rayonier Inc. (NYSE:RYN) by 0.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 170,870 shares of the real estate investment trust’s stock after buying an additional 550 shares during the quarter. Retirement Systems of Alabama’s holdings in Rayonier were worth $5,709,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Millburn Ridgefield Corp purchased a new stake in Rayonier in the 3rd quarter worth $26,000. Fifth Third Bancorp lifted its stake 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 worth $55,000 after purchasing an additional 880 shares in the last quarter. Signaturefd LLC lifted its stake in Rayonier by 371.7% in the 4th quarter. Signaturefd LLC now owns 2,052 shares of the real estate investment trust’s stock worth $69,000 after purchasing an additional 1,617 shares in the last quarter. Laurion Capital Management LP purchased a new stake in Rayonier in the 3rd quarter worth $220,000. Finally, Mackenzie Financial Corp purchased a new stake in Rayonier in the 3rd quarter worth $227,000. Institutional investors own 89.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Royal Bank of Canada boosted their price target 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. TheStreet upgraded shares of Rayonier from a “c+” rating to a “b-” rating in a research report on Friday, February 16th. Finally, StockNews.com upgraded shares of Rayonier from a “hold” rating to a “buy” rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $34.50.

Rayonier Stock Down 0.2 %

Shares of NYSE RYN opened at $29.36 on Monday. The firm’s 50-day moving average price is $32.36 and its 200-day moving average price is $31.50. The company has a current ratio of 2.46, a quick ratio of 2.04 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $4.36 billion, a price-to-earnings ratio of 26.21 and a beta of 1.09. Rayonier Inc. has a 12-month low of $24.84 and a 12-month high of $35.29.

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

Rayonier Announces Dividend

The company also recently declared 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 yield of 3.88%. Rayonier’s payout ratio is 101.79%.

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