State of Alaska Department of Revenue Raises Stock Holdings in Rayonier Inc. (NYSE:RYN)

State of Alaska Department of Revenue lifted its holdings in shares of Rayonier Inc. (NYSE:RYNFree Report) by 0.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 84,739 shares of the real estate investment trust’s stock after acquiring an additional 439 shares during the period. State of Alaska Department of Revenue owned 0.06% of Rayonier worth $2,815,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new position in Rayonier during the 4th quarter worth $439,076,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Rayonier by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,337,632 shares of the real estate investment trust’s stock worth $78,100,000 after buying an additional 75,749 shares during the period. Confluence Investment Management LLC purchased a new position in shares of Rayonier during the first quarter worth about $77,027,000. Cohen & Steers Inc. acquired a new stake in Rayonier during the 4th quarter worth approximately $51,265,000. Finally, Global Alpha Capital Management Ltd. grew its stake in shares of Rayonier by 10.7% in the 4th 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 last quarter. 89.12% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RYN has been the subject of several recent research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $34.00 price target on shares of Rayonier in a report on Friday, June 14th. StockNews.com cut shares of Rayonier from a “buy” rating to a “hold” rating in a research note on Friday, May 10th.

Check Out Our Latest Analysis on RYN

Rayonier Stock Performance

Shares of RYN stock opened at $27.85 on Friday. The company has a current ratio of 2.46, a quick ratio of 2.08 and a debt-to-equity ratio of 0.74. Rayonier Inc. has a 12-month low of $24.84 and a 12-month high of $35.29. The company has a market cap of $4.15 billion, a price-to-earnings ratio of 24.87 and a beta of 1.05. The stock has a 50 day simple moving average of $29.66 and a 200-day simple moving average of $31.55.

Rayonier (NYSE:RYNGet Free Report) last released its earnings results 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 return on equity of 3.21% and a net margin of 15.92%. The company had revenue of $168.10 million during the quarter, compared to the consensus estimate of $190.04 million. During the same quarter last year, the company earned $0.01 earnings per share. Rayonier’s quarterly revenue was down 6.1% compared to the same quarter last year. On average, equities analysts forecast that Rayonier Inc. will post 0.46 EPS for the current year.

Rayonier Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 4.09%. The ex-dividend date of this dividend was Friday, June 14th. Rayonier’s dividend payout ratio (DPR) is 101.79%.

Rayonier Company Profile

(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.

See Also

Institutional Ownership by Quarter for Rayonier (NYSE:RYN)

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