Invesco Ltd. Has $9.67 Million Stock Holdings in Rayonier Inc. (NYSE:RYN)

Invesco Ltd. raised its position in Rayonier Inc. (NYSE:RYN) by 9.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 370,474 shares of the real estate investment trust’s stock after acquiring an additional 31,916 shares during the period. Invesco Ltd. owned about 0.25% of Rayonier worth $9,669,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Pacer Advisors Inc. lifted its stake in Rayonier by 2.3% during the fourth quarter. Pacer Advisors Inc. now owns 19,993 shares of the real estate investment trust’s stock worth $522,000 after purchasing an additional 442 shares during the period. GAMMA Investing LLC lifted its position in shares of Rayonier by 41.8% during the 4th quarter. GAMMA Investing LLC now owns 1,733 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 511 shares during the period. UMB Bank n.a. boosted its stake in Rayonier by 59.7% in the 4th quarter. UMB Bank n.a. now owns 1,404 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 525 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in Rayonier by 36.8% in the fourth quarter. Harbor Capital Advisors Inc. now owns 3,186 shares of the real estate investment trust’s stock valued at $83,000 after acquiring an additional 857 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new position in Rayonier during the fourth quarter worth $25,000. Institutional investors own 89.12% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. StockNews.com raised shares of Rayonier from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Raymond James upgraded Rayonier from a “market perform” rating to an “outperform” rating and set a $31.00 price objective for the company in a research report on Wednesday, March 12th. Truist Financial reduced their price target on shares of Rayonier from $30.00 to $27.00 and set a “hold” rating on the stock in a research report on Tuesday. Citigroup decreased their price objective on shares of Rayonier from $32.00 to $25.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Finally, Royal Bank of Canada dropped their target price on shares of Rayonier from $33.00 to $30.00 and set a “sector perform” rating for the company in a research note on Friday, February 7th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $28.25.

Rayonier Price Performance

Rayonier stock opened at $24.76 on Thursday. The business’s 50-day simple moving average is $26.33 and its 200 day simple moving average is $27.95. The company has a quick ratio of 1.85, a current ratio of 1.12 and a debt-to-equity ratio of 0.61. The stock has a market cap of $3.86 billion, a price-to-earnings ratio of 10.49 and a beta of 0.97. Rayonier Inc. has a 12-month low of $22.80 and a 12-month high of $31.29.

Rayonier (NYSE:RYN) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.27 EPS for the quarter, topping the consensus estimate of $0.19 by $0.08. Rayonier had a net margin of 28.44% and a return on equity of 3.86%. As a group, research analysts anticipate that Rayonier Inc. will post 0.55 earnings per share for the current year.

Rayonier Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a $0.2725 dividend. The ex-dividend date was Monday, March 17th. This represents a $1.09 annualized dividend and a dividend yield of 4.40%. Rayonier’s dividend payout ratio is currently 46.19%.

About Rayonier

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.