Ameriprise Financial Inc. Trims Stock Position in Rayonier Inc. (NYSE:RYN)

Ameriprise Financial Inc. reduced its stake in Rayonier Inc. (NYSE:RYN - Free Report) by 7.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 134,452 shares of the real estate investment trust's stock after selling 10,891 shares during the quarter. Ameriprise Financial Inc. owned about 0.09% of Rayonier worth $3,509,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. KBC Group NV raised its holdings in shares of Rayonier by 61.1% in the fourth quarter. KBC Group NV now owns 6,460 shares of the real estate investment trust's stock worth $169,000 after buying an additional 2,449 shares during the last quarter. Pacer Advisors Inc. raised its stake in Rayonier by 2.3% in the 4th quarter. Pacer Advisors Inc. now owns 19,993 shares of the real estate investment trust's stock worth $522,000 after acquiring an additional 442 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Rayonier by 0.6% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 179,080 shares of the real estate investment trust's stock valued at $4,674,000 after purchasing an additional 1,000 shares during the last quarter. Brown Lisle Cummings Inc. increased its holdings in shares of Rayonier by 17.3% in the fourth quarter. Brown Lisle Cummings Inc. now owns 9,824 shares of the real estate investment trust's stock valued at $256,000 after purchasing an additional 1,452 shares during the period. Finally, State of Alaska Department of Revenue raised its stake in shares of Rayonier by 3.8% in the fourth quarter. State of Alaska Department of Revenue now owns 89,658 shares of the real estate investment trust's stock worth $2,339,000 after purchasing an additional 3,304 shares during the last quarter. 89.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Royal Bank of Canada decreased their target price on shares of Rayonier from $28.00 to $27.00 and set a "sector perform" rating for the company in a research report on Friday, May 2nd. Wall Street Zen raised Rayonier from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Raymond James upgraded Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 price objective on the stock in a research report on Wednesday, March 12th. Finally, Truist Financial dropped their price objective on Rayonier from $30.00 to $27.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Rayonier has a consensus rating of "Hold" and an average target price of $27.50.

Rayonier Price Performance

Shares of NYSE:RYN traded up $0.39 during midday trading on Thursday, hitting $23.78. The company's stock had a trading volume of 717,293 shares, compared to its average volume of 862,703. The company has a market cap of $3.70 billion, a P/E ratio of 10.07 and a beta of 1.07. Rayonier Inc. has a 12-month low of $22.80 and a 12-month high of $31.29. 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 business's 50 day simple moving average is $24.77 and its 200 day simple moving average is $26.60.

Rayonier (NYSE:RYN - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported ($0.02) 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 company had revenue of $82.90 million during the quarter, compared to analyst estimates of $152.99 million. During the same quarter in the prior year, the company posted $0.01 earnings per share. The business's revenue was down 27.1% compared to the same quarter last year. On average, analysts forecast that Rayonier Inc. will post 0.55 EPS for the current year.

Rayonier Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a dividend of $0.2725 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.09 annualized dividend and a yield of 4.58%. Rayonier's payout ratio is 46.78%.

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.