Voya Investment Management LLC Cuts Stock Position in Rayonier Inc. (NYSE:RYN)

Voya Investment Management LLC decreased its stake in shares of Rayonier Inc. (NYSE:RYN) by 2.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 18,745 shares of the real estate investment trust’s stock after selling 474 shares during the quarter. Voya Investment Management LLC’s holdings in Rayonier were worth $489,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Pinebridge Investments L.P. boosted its stake in Rayonier by 42.7% in the 4th quarter. Pinebridge Investments L.P. now owns 76,059 shares of the real estate investment trust’s stock worth $1,985,000 after purchasing an additional 22,753 shares in the last quarter. Dark Forest Capital Management LP purchased a new stake in shares of Rayonier during the fourth quarter valued at approximately $347,000. Hsbc Holdings PLC bought a new stake in shares of Rayonier during the fourth quarter valued at approximately $1,189,000. Tower Research Capital LLC TRC raised its holdings in Rayonier by 203.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,499 shares of the real estate investment trust’s stock worth $300,000 after acquiring an additional 7,706 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its position in Rayonier by 9.2% in the 4th quarter. MetLife Investment Management LLC now owns 75,946 shares of the real estate investment trust’s stock valued at $1,982,000 after acquiring an additional 6,408 shares in the last quarter. 89.12% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. StockNews.com cut Rayonier from a “buy” rating to a “sell” rating in a research note on Monday, May 5th. Royal Bank of Canada dropped their price target on shares of Rayonier from $28.00 to $27.00 and set a “sector perform” rating on the stock in a report on Friday, May 2nd. Truist Financial lowered their price objective on shares of Rayonier from $30.00 to $27.00 and set a “hold” rating on the stock in a research report on Tuesday, April 22nd. Citigroup decreased their target price on shares of Rayonier from $32.00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Finally, Raymond James upgraded Rayonier from a “market perform” rating to an “outperform” rating and set a $31.00 price objective for the company in a research report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $27.50.

Rayonier Stock Performance

NYSE:RYN opened at $23.52 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.85 and a current ratio of 1.12. The stock has a 50-day simple moving average of $25.77 and a two-hundred day simple moving average of $27.29. The firm has a market capitalization of $3.67 billion, a PE ratio of 9.97 and a beta of 1.07. Rayonier Inc. has a 52-week low of $22.80 and a 52-week high of $31.29.

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

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.