Balyasny Asset Management L.P. Lowers Stake in Rayonier Inc. (NYSE:RYN)

Balyasny Asset Management L.P. lessened its holdings in Rayonier Inc. (NYSE:RYN - Free Report) by 12.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 784,404 shares of the real estate investment trust's stock after selling 116,523 shares during the quarter. Balyasny Asset Management L.P. owned 0.53% of Rayonier worth $20,473,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Norges Bank acquired a new position in Rayonier in the fourth quarter valued at approximately $343,007,000. Franklin Resources Inc. acquired a new position in Rayonier in the fourth quarter valued at approximately $30,935,000. Northern Trust Corp lifted its holdings in Rayonier by 17.9% in the fourth quarter. Northern Trust Corp now owns 1,543,523 shares of the real estate investment trust's stock valued at $40,286,000 after acquiring an additional 234,629 shares during the period. ExodusPoint Capital Management LP acquired a new position in Rayonier in the fourth quarter valued at approximately $4,726,000. Finally, Legal & General Group Plc lifted its holdings in Rayonier by 5.8% in the fourth quarter. Legal & General Group Plc now owns 3,107,331 shares of the real estate investment trust's stock valued at $81,101,000 after acquiring an additional 170,087 shares during the period. Institutional investors and hedge funds own 89.12% of the company's stock.

Rayonier Stock Performance

RYN traded up $0.64 on Monday, reaching $24.08. The company had a trading volume of 565,024 shares, compared to its average volume of 835,430. The stock has a 50-day moving average price of $25.77 and a 200-day moving average price of $27.23. Rayonier Inc. has a 1 year low of $22.80 and a 1 year high of $31.29. The company has a quick ratio of 1.85, a current ratio of 1.12 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $3.75 billion, a PE ratio of 10.20 and a beta of 1.07.

Rayonier (NYSE:RYN - Get Free Report) last posted its quarterly 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). The firm had revenue of $82.90 million for the quarter, compared to analysts' expectations of $152.99 million. Rayonier had a return on equity of 3.86% and a net margin of 28.44%. The company's revenue for the quarter was down 27.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.01 earnings per share. As a group, research analysts forecast that Rayonier Inc. will post 0.55 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.