Rayonier Inc. (NYSE:RYN) Position Cut by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lowered its position in shares of Rayonier Inc. (NYSE:RYNFree Report) by 3.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 30,350 shares of the real estate investment trust’s stock after selling 1,073 shares during the period. Commonwealth Equity Services LLC’s holdings in Rayonier were worth $1,009,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Norges Bank acquired a new position in Rayonier during the 4th quarter worth $439,076,000. Charles Schwab Investment Management Inc. grew its position in Rayonier by 3.3% in the 4th 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 buying an additional 75,749 shares in the last quarter. Confluence Investment Management LLC acquired a new position in Rayonier during the 1st quarter valued at about $77,027,000. Cohen & Steers Inc. bought a new stake in shares of Rayonier during the 4th quarter worth about $51,265,000. Finally, Global Alpha Capital Management Ltd. lifted 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 worth $21,551,000 after acquiring an additional 62,400 shares during the period. Institutional investors and hedge funds own 89.12% of the company’s stock.

Rayonier Stock Performance

Shares of RYN opened at $27.80 on Tuesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.46 and a quick ratio of 2.08. The firm’s 50 day moving average is $29.62 and its 200-day moving average is $31.51. Rayonier Inc. has a 12-month low of $24.84 and a 12-month high of $35.29. The stock has a market capitalization of $4.14 billion, a P/E ratio of 24.82 and a beta of 1.05.

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, topping the consensus estimate of $0.04 by $0.01. Rayonier had a net margin of 15.92% and a return on equity of 3.21%. The firm had revenue of $168.10 million for the quarter, compared to analyst estimates of $190.04 million. During the same quarter in the previous year, the business posted $0.01 earnings per share. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. Equities research analysts anticipate that Rayonier Inc. will post 0.46 EPS for the current fiscal year.

Rayonier Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend was Friday, June 14th. Rayonier’s dividend payout ratio is 101.79%.

Analyst Ratings Changes

Several equities research analysts recently commented on RYN shares. Royal Bank of Canada reissued a “sector perform” rating and set a $34.00 target price on shares of Rayonier in a report on Friday, June 14th. StockNews.com downgraded Rayonier from a “buy” rating to a “hold” rating in a research note on Friday, May 10th.

Check Out Our Latest Stock Analysis 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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