Wells Fargo & Company MN Cuts Position in Rayonier Inc. (NYSE:RYN)

Wells Fargo & Company MN lowered its position in shares of Rayonier Inc. (NYSE:RYN) by 14.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 45,190 shares of the real estate investment trust’s stock after selling 7,886 shares during the quarter. Wells Fargo & Company MN’s holdings in Rayonier were worth $1,179,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd purchased a new stake in Rayonier during the fourth quarter worth approximately $25,000. UMB Bank n.a. boosted its position in Rayonier by 59.7% during the 4th quarter. UMB Bank n.a. now owns 1,404 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 525 shares during the period. Steward Partners Investment Advisory LLC increased its holdings in Rayonier by 264.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,677 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 1,217 shares in the last quarter. GAMMA Investing LLC raised its position in Rayonier by 41.8% in the fourth quarter. GAMMA Investing LLC now owns 1,733 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 511 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of Rayonier by 36.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 3,186 shares of the real estate investment trust’s stock worth $83,000 after purchasing an additional 857 shares in the last quarter. Institutional investors and hedge funds own 89.12% of the company’s stock.

Rayonier Stock Performance

Rayonier stock opened at $24.62 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 1.85 and a debt-to-equity ratio of 0.61. The stock has a 50 day moving average of $26.27 and a 200-day moving average of $27.75. The stock has a market cap of $3.84 billion, a P/E ratio of 10.43 and a beta of 0.97. Rayonier Inc. has a 52 week low of $22.80 and a 52 week high of $31.29.

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

Rayonier Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.2725 dividend. This represents a $1.09 annualized dividend and a yield of 4.43%. The ex-dividend date of this dividend was Monday, March 17th. Rayonier’s dividend payout ratio is currently 46.19%.

Analyst Upgrades and Downgrades

RYN has been the subject of a number of recent research reports. Citigroup lowered their target price on Rayonier from $32.00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. StockNews.com raised shares of Rayonier from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Royal Bank of Canada reduced their target price on shares of Rayonier from $33.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Friday, February 7th. Raymond James raised shares of Rayonier from a “market perform” rating to an “outperform” rating and set a $31.00 price target for the company in a report on Wednesday, March 12th. Finally, Truist Financial cut their price objective on shares of Rayonier from $30.00 to $27.00 and set a “hold” rating on the stock in a report on Tuesday, April 22nd. Three equities 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, the company has a consensus rating of “Hold” and an average target price of $28.25.

Rayonier Company Profile

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.