LPL Financial LLC Has $649,000 Holdings in Rayonier Inc. (NYSE:RYN)

LPL Financial LLC cut its position in shares of Rayonier Inc. (NYSE:RYN) by 12.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,862 shares of the real estate investment trust’s stock after selling 3,447 shares during the quarter. LPL Financial LLC’s holdings in Rayonier were worth $649,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Rayonier by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,488,802 shares of the real estate investment trust’s stock valued at $64,958,000 after buying an additional 46,956 shares in the last quarter. Global Alpha Capital Management Ltd. boosted its position in Rayonier by 11.3% during the 4th quarter. Global Alpha Capital Management Ltd. now owns 1,150,927 shares of the real estate investment trust’s stock worth $30,039,000 after acquiring an additional 116,800 shares during the period. Rhumbline Advisers grew its stake in Rayonier by 0.3% during the 4th quarter. Rhumbline Advisers now owns 421,773 shares of the real estate investment trust’s stock valued at $11,008,000 after acquiring an additional 1,279 shares in the last quarter. Firetrail Investments PTY Ltd. increased its holdings in shares of Rayonier by 56.1% in the 4th quarter. Firetrail Investments PTY Ltd. now owns 384,490 shares of the real estate investment trust’s stock valued at $10,072,000 after purchasing an additional 138,203 shares during the period. Finally, Swiss National Bank increased its holdings in shares of Rayonier by 5.9% in the 4th quarter. Swiss National Bank now owns 292,382 shares of the real estate investment trust’s stock valued at $7,631,000 after purchasing an additional 16,282 shares during the period. 89.12% of the stock is owned by institutional investors and hedge funds.

Rayonier Price Performance

NYSE RYN opened at $24.76 on Thursday. Rayonier Inc. has a fifty-two week low of $22.80 and a fifty-two week high of $31.29. The stock’s 50-day moving average is $26.33 and its two-hundred day moving average is $27.95. The firm has a market cap of $3.86 billion, a P/E ratio of 10.49 and a beta of 0.97. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.12 and a quick ratio of 1.85.

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

Rayonier Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.2725 dividend. The ex-dividend date was Monday, March 17th. This represents a $1.09 annualized dividend and a yield of 4.40%. Rayonier’s dividend payout ratio (DPR) is presently 46.19%.

Analysts Set New Price Targets

Several research analysts have weighed in on RYN shares. Citigroup dropped their price objective on shares of Rayonier from $32.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. StockNews.com upgraded 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 target price on the stock in a research note on Wednesday, March 12th. Royal Bank of Canada cut their price target on Rayonier from $33.00 to $30.00 and set a “sector perform” rating for the company in a research note on Friday, February 7th. Finally, Truist Financial lowered their price target on Rayonier from $30.00 to $27.00 and set a “hold” rating for the company in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $28.25.

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.