45,588 Shares in Rayonier Inc. (NYSE:RYN) Purchased by Cibc World Markets Corp

Cibc World Markets Corp acquired a new stake in Rayonier Inc. (NYSE:RYNFree Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 45,588 shares of the real estate investment trust’s stock, valued at approximately $1,523,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Rayonier in the fourth quarter valued at about $439,076,000. Charles Schwab Investment Management Inc. lifted its position in Rayonier by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,337,632 shares of the real estate investment trust’s stock valued at $78,100,000 after purchasing an additional 75,749 shares during the period. Global Alpha Capital Management Ltd. lifted its position in Rayonier by 10.7% in the fourth quarter. Global Alpha Capital Management Ltd. now owns 645,057 shares of the real estate investment trust’s stock valued at $21,551,000 after purchasing an additional 62,400 shares during the period. The Manufacturers Life Insurance Company lifted its position in Rayonier by 9.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 395,308 shares of the real estate investment trust’s stock valued at $13,207,000 after purchasing an additional 34,478 shares during the period. Finally, Swiss National Bank lifted its position in Rayonier by 1.5% in the third quarter. Swiss National Bank now owns 309,500 shares of the real estate investment trust’s stock valued at $8,808,000 after purchasing an additional 4,500 shares during the period. Institutional investors and hedge funds own 89.12% of the company’s stock.

Rayonier Price Performance

RYN stock opened at $30.13 on Tuesday. The firm has a 50 day moving average of $30.39 and a 200-day moving average of $31.88. 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 2.46, a quick ratio of 2.08 and a debt-to-equity ratio of 0.74. The company has a market cap of $4.49 billion, a price-to-earnings ratio of 26.90 and a beta of 1.07.

Rayonier (NYSE:RYNGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.05 earnings per share (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 during the quarter, compared to the consensus estimate of $190.04 million. During the same period last year, the firm earned $0.01 EPS. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. As a group, equities analysts expect that Rayonier Inc. will post 0.46 EPS for the current fiscal year.

Rayonier Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.285 per share. The ex-dividend date is Friday, June 14th. This represents a $1.14 annualized dividend and a dividend yield of 3.78%. Rayonier’s dividend payout ratio is currently 101.79%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. TheStreet upgraded shares of Rayonier from a “c+” rating to a “b-” rating in a research report on Friday, February 16th. StockNews.com downgraded shares of Rayonier from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Three research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $34.50.

View Our Latest Research Report on RYN

About Rayonier

(Free Report)

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.

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Institutional Ownership by Quarter for Rayonier (NYSE:RYN)

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