UMB Bank n.a. Raises Stock Position in Rayonier Inc. (NYSE:RYN)

UMB Bank n.a. increased its position in Rayonier Inc. (NYSE:RYN) by 100.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,810 shares of the real estate investment trust’s stock after purchasing an additional 1,406 shares during the quarter. UMB Bank n.a.’s holdings in Rayonier were worth $78,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RYN. Shell Asset Management Co. lifted its holdings in shares of Rayonier by 4.5% during the fourth quarter. Shell Asset Management Co. now owns 11,652 shares of the real estate investment trust’s stock valued at $304,000 after purchasing an additional 497 shares during the last quarter. Covestor Ltd grew its position in Rayonier by 30.0% in the 4th quarter. Covestor Ltd now owns 2,317 shares of the real estate investment trust’s stock worth $60,000 after purchasing an additional 535 shares during the period. Parallel Advisors LLC grew its holdings in shares of Rayonier by 133.5% in the first quarter. Parallel Advisors LLC now owns 1,123 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 642 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in shares of Rayonier during the 4th quarter valued at about $25,000. Finally, American National Bank & Trust purchased a new stake in Rayonier during the first quarter valued at approximately $28,000. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on RYN shares. Citigroup decreased their price objective on Rayonier from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 3rd. Truist Financial dropped 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, April 22nd. Raymond James upgraded shares of Rayonier from a “market perform” rating to an “outperform” rating and set a $31.00 target price on the stock in a report on Wednesday, March 12th. Wall Street Zen raised Rayonier from a “sell” rating to a “hold” rating in a research report on Tuesday, May 13th. Finally, Royal Bank of Canada reduced their price objective on shares of Rayonier from $28.00 to $27.00 and set a “sector perform” rating on the stock in a research report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $27.75.

Rayonier Trading Down 1.9%

RYN opened at $23.41 on Friday. Rayonier Inc. has a 52 week low of $22.80 and a 52 week high of $31.29. The company has a market capitalization of $3.65 billion, a P/E ratio of 9.92 and a beta of 1.05. The stock’s fifty day moving average is $23.99 and its two-hundred day moving average is $26.04. The company has a quick ratio of 1.85, a current ratio of 1.12 and a debt-to-equity ratio of 0.61.

Rayonier (NYSE:RYN) last released its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.10). Rayonier had a net margin of 28.44% and a return on equity of 3.86%. The business had revenue of $82.90 million for the quarter, compared to the consensus estimate of $152.99 million. During the same quarter in the prior year, the business posted $0.01 earnings per share. Rayonier’s revenue for the quarter was down 27.1% on a year-over-year basis. Analysts forecast that Rayonier Inc. will post 0.55 earnings per share for the current year.

Rayonier Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date of this dividend is Monday, June 16th. Rayonier’s payout ratio is currently 46.78%.

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.