6,401 Shares in Rayonier Inc. (NYSE:RYN) Acquired by Brighton Jones LLC

Brighton Jones LLC acquired a new position in Rayonier Inc. (NYSE:RYN) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 6,401 shares of the real estate investment trust’s stock, valued at approximately $214,000.

A number of other hedge funds also recently added to or reduced their stakes in RYN. Duff & Phelps Investment Management Co. bought a new stake in Rayonier in the 4th quarter worth approximately $1,470,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Rayonier in the 3rd quarter worth approximately $914,000. J.P. Morgan Private Wealth Advisors LLC grew its position in Rayonier by 66.2% in the 3rd quarter. J.P. Morgan Private Wealth Advisors LLC now owns 228,879 shares of the real estate investment trust’s stock worth $6,514,000 after purchasing an additional 91,141 shares during the period. Quadrature Capital Ltd bought a new stake in Rayonier in the 3rd quarter worth approximately $393,000. Finally, Nisa Investment Advisors LLC grew its position in Rayonier by 1.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 102,791 shares of the real estate investment trust’s stock worth $3,434,000 after purchasing an additional 1,435 shares during the period. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

Rayonier Trading Down 0.2 %

Shares of Rayonier stock opened at $29.36 on Friday. The company has a market capitalization of $4.36 billion, a P/E ratio of 26.21 and a beta of 1.09. Rayonier Inc. has a fifty-two week low of $24.84 and a fifty-two week high of $35.29. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.04 and a current ratio of 2.46. The company has a fifty day moving average of $32.44 and a 200 day moving average of $31.46.

Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. The business had revenue of $168.10 million for the quarter, compared to analysts’ expectations of $190.04 million. Rayonier had a net margin of 15.92% and a return on equity of 3.21%. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.01 EPS. On average, sell-side analysts anticipate that Rayonier Inc. will post 0.48 earnings per share for the current fiscal year.

Rayonier Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date was Wednesday, March 13th. Rayonier’s payout ratio is 101.79%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on RYN shares. Royal Bank of Canada boosted their price objective on shares of Rayonier from $34.00 to $35.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. TheStreet raised shares of Rayonier from a “c+” rating to a “b-” rating in a research report on Friday, February 16th. Finally, StockNews.com raised shares of Rayonier from a “hold” rating to a “buy” rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $34.50.

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.