Benjamin F. Edwards & Company Inc. Buys 890 Shares of Rayonier Inc. (NYSE:RYN)

Benjamin F. Edwards & Company Inc. raised its stake in Rayonier Inc. (NYSE:RYN) by 3.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,805 shares of the real estate investment trust’s stock after acquiring an additional 890 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Rayonier were worth $929,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in RYN. Russell Investments Group Ltd. raised its position in shares of Rayonier by 1,201.1% in the fourth quarter. Russell Investments Group Ltd. now owns 259,199 shares of the real estate investment trust’s stock valued at $8,660,000 after buying an additional 239,278 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Rayonier by 2.7% during the 3rd quarter. Victory Capital Management Inc. now owns 3,965,573 shares of the real estate investment trust’s stock worth $112,860,000 after purchasing an additional 105,884 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC increased its position in shares of Rayonier by 66.2% in the third 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. Duff & Phelps Investment Management Co. acquired a new position in Rayonier in the fourth quarter valued at about $1,470,000. Finally, Louisiana State Employees Retirement System bought a new stake in Rayonier during the fourth quarter worth about $1,280,000. Institutional investors and hedge funds own 89.12% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. 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. StockNews.com raised shares of Rayonier from a “hold” rating to a “buy” rating in a report on Thursday, May 2nd. Finally, TheStreet raised shares of Rayonier from a “c+” rating to a “b-” rating in a research note on Friday, February 16th. Two analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Rayonier currently has a consensus rating of “Hold” and a consensus price target of $34.50.

Rayonier Stock Down 1.0 %

NYSE:RYN opened at $29.67 on Wednesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.46 and a quick ratio of 2.04. Rayonier Inc. has a one year low of $24.84 and a one year high of $35.29. The firm’s 50 day simple moving average is $32.21 and its 200 day simple moving average is $31.60. The company has a market cap of $4.41 billion, a PE ratio of 26.49 and a beta of 1.09.

Rayonier (NYSE:RYN) last posted its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $168.10 million for the quarter, compared to analyst estimates of $190.04 million. Rayonier had a net margin of 15.92% and a return on equity of 3.21%. The company’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.01 EPS. On average, research analysts anticipate that Rayonier Inc. will post 0.48 earnings per share for the current year.

Rayonier Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a dividend of $0.285 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.14 annualized dividend and a dividend yield of 3.84%. Rayonier’s payout ratio is 101.79%.

Rayonier 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.