Raymond James Financial Services Advisors Inc. Cuts Stock Position in Rayonier Inc. (NYSE:RYN)

Raymond James Financial Services Advisors Inc. cut its holdings in Rayonier Inc. (NYSE:RYN) by 5.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,907 shares of the real estate investment trust’s stock after selling 495 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Rayonier were worth $298,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Millburn Ridgefield Corp purchased a new position in Rayonier during the third quarter worth $26,000. Fifth Third Bancorp boosted its stake in Rayonier by 84.7% during the third quarter. Fifth Third Bancorp now owns 1,919 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 880 shares during the period. Laurion Capital Management LP purchased a new position in Rayonier during the third quarter worth $220,000. Mackenzie Financial Corp purchased a new position in Rayonier during the third quarter worth $227,000. Finally, Adams Asset Advisors LLC purchased a new position in Rayonier during the fourth quarter worth $234,000. 89.12% of the stock is owned by hedge funds and other institutional investors.

Rayonier Stock Up 0.5 %

NYSE:RYN opened at $30.49 on Tuesday. Rayonier Inc. has a twelve month low of $24.84 and a twelve month high of $35.29. The company has a market cap of $4.53 billion, a price-to-earnings ratio of 26.06 and a beta of 1.07. The stock has a fifty day simple moving average of $32.97 and a 200-day simple moving average of $31.36. The company has a current ratio of 2.26, a quick ratio of 2.04 and a debt-to-equity ratio of 0.73.

Rayonier (NYSE:RYN) last released its earnings results on Wednesday, January 31st. The real estate investment trust reported $0.17 earnings per share for the quarter, hitting the consensus estimate of $0.17. The business had revenue of $467.40 million during the quarter, compared to the consensus estimate of $235.94 million. Rayonier had a return on equity of 2.89% and a net margin of 16.41%. During the same period last year, the company earned $0.11 earnings per share. Analysts anticipate that Rayonier Inc. will post 0.48 EPS for the current year.

Rayonier Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.285 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.14 annualized dividend and a dividend yield of 3.74%. Rayonier’s payout ratio is currently 97.44%.

Analyst Upgrades and Downgrades

Several research analysts have commented on RYN shares. StockNews.com raised shares of Rayonier from a “sell” rating to a “hold” rating in a research note on Monday, February 26th. Truist Financial lifted their target price on Rayonier from $33.00 to $34.00 and gave the stock a “hold” rating in a research report on Thursday, January 4th. TheStreet upgraded Rayonier from a “c+” rating to a “b-” rating in a research report on Friday, February 16th. Finally, Royal Bank of Canada lifted their target price on Rayonier from $34.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Three investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target 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.