Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Rayonier Inc. (NYSE:RYN - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 845,833 shares of the real estate investment trust's stock, valued at approximately $23,582,000. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.54% of Rayonier at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Rayonier during the fourth quarter worth about $343,007,000. Massachusetts Financial Services Co. MA increased its stake in Rayonier by 0.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,372,817 shares of the real estate investment trust's stock worth $88,031,000 after buying an additional 20,126 shares during the period. Legal & General Group Plc lifted its holdings in Rayonier by 5.8% during the 4th quarter. Legal & General Group Plc now owns 3,107,331 shares of the real estate investment trust's stock worth $81,101,000 after buying an additional 170,087 shares in the last quarter. Geode Capital Management LLC boosted its position in Rayonier by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 2,632,193 shares of the real estate investment trust's stock valued at $68,719,000 after buying an additional 39,332 shares during the period. Finally, Victory Capital Management Inc. grew its stake in shares of Rayonier by 13.8% in the first quarter. Victory Capital Management Inc. now owns 2,515,298 shares of the real estate investment trust's stock worth $70,127,000 after acquiring an additional 304,803 shares in the last quarter. 89.12% of the stock is currently owned by hedge funds and other institutional investors.
Rayonier Stock Up 1.1%
Shares of RYN stock traded up $0.26 on Friday, reaching $24.12. 864,892 shares of the stock were exchanged, compared to its average volume of 1,168,851. The company has a market capitalization of $3.76 billion, a price-to-earnings ratio of 10.35 and a beta of 1.02. The business's 50 day moving average price is $23.32 and its 200 day moving average price is $24.93. The company has a current ratio of 2.71, a quick ratio of 2.60 and a debt-to-equity ratio of 0.54. Rayonier Inc. has a twelve month low of $21.84 and a twelve month high of $32.88.
Rayonier (NYSE:RYN - Get Free Report) last released its quarterly earnings data 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 3.29% and a net margin of 30.09%. The business had revenue of $82.90 million for the quarter, compared to analyst estimates 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. As a group, sell-side analysts expect that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.
Rayonier Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date is Tuesday, September 16th. Rayonier's dividend payout ratio (DPR) is 46.78%.
Analyst Ratings Changes
RYN has been the topic of several analyst reports. Truist Financial reduced their price objective on Rayonier from $30.00 to $27.00 and set a "hold" rating on the stock in a research note on Tuesday, April 22nd. Royal Bank Of Canada cut their price target on Rayonier from $28.00 to $27.00 and set a "sector perform" rating on the stock in a report on Friday, May 2nd. Wall Street Zen upgraded Rayonier from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, Citigroup lowered their price objective on Rayonier from $27.00 to $26.00 and set a "neutral" rating for the company in a research report on Tuesday, June 3rd. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $27.75.
Check Out Our Latest Report on RYN
Rayonier Profile
(
Free Report)
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.
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