Russell Investments Group Ltd. Has $8.66 Million Stock Holdings in Rayonier Inc. (NYSE:RYN)

Russell Investments Group Ltd. increased its stake in shares of Rayonier Inc. (NYSE:RYN) by 1,201.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 259,199 shares of the real estate investment trust’s stock after buying an additional 239,278 shares during the quarter. Russell Investments Group Ltd.’s holdings in Rayonier were worth $8,660,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in RYN. Millburn Ridgefield Corp acquired a new position in Rayonier during the 3rd quarter worth approximately $26,000. Fifth Third Bancorp grew its holdings in 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 acquiring an additional 880 shares during the last quarter. Signaturefd LLC grew its holdings in Rayonier by 371.7% during the 4th quarter. Signaturefd LLC now owns 2,052 shares of the real estate investment trust’s stock worth $69,000 after acquiring an additional 1,617 shares during the last quarter. Laurion Capital Management LP bought a new stake in Rayonier during the 3rd quarter worth approximately $220,000. Finally, Mackenzie Financial Corp bought a new stake in Rayonier during the 3rd quarter worth approximately $227,000. 89.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Royal Bank of Canada boosted their target price on shares of Rayonier from $34.00 to $35.00 and gave the stock a “sector perform” rating in a report on Friday, February 2nd. StockNews.com raised shares of Rayonier from a “hold” rating to a “buy” rating in a report on Thursday, May 2nd. Finally, TheStreet raised shares of Rayonier from a “c+” rating to a “b-” rating in a report on Friday, February 16th. Two analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Rayonier currently has a consensus rating of “Hold” and a consensus price target of $34.50.

Rayonier Trading Up 2.0 %

NYSE:RYN opened at $29.96 on Tuesday. The firm’s fifty day moving average is $32.29 and its 200-day moving average is $31.57. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.04 and a current ratio of 2.46. Rayonier Inc. has a 52 week low of $24.84 and a 52 week high of $35.29. The firm has a market cap of $4.45 billion, a P/E ratio of 26.75 and a beta of 1.09.

Rayonier (NYSE:RYN) last posted its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. Rayonier had a net margin of 15.92% and a return on equity of 3.21%. The company had revenue of $168.10 million for the quarter, compared to analyst estimates of $190.04 million. During the same period in the prior year, the firm posted $0.01 EPS. The company’s quarterly revenue was down 6.1% on a year-over-year basis. Equities analysts expect 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 paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend was Wednesday, March 13th. Rayonier’s dividend payout ratio is presently 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.