Cerity Partners LLC Has $1.91 Million Stock Position in Rayonier Inc. (NYSE:RYN)

Cerity Partners LLC lifted its stake in shares of Rayonier Inc. (NYSE:RYN - Free Report) by 87.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 68,528 shares of the real estate investment trust's stock after purchasing an additional 31,875 shares during the quarter. Cerity Partners LLC's holdings in Rayonier were worth $1,911,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of RYN. Harvest Fund Management Co. Ltd acquired a new stake in shares of Rayonier during the 4th quarter worth $25,000. American National Bank & Trust bought a new stake in shares of Rayonier during the 1st quarter worth $28,000. Parallel Advisors LLC lifted its position in shares of Rayonier by 133.5% during the 1st quarter. Parallel Advisors LLC now owns 1,123 shares of the real estate investment trust's stock worth $31,000 after buying an additional 642 shares during the last quarter. Byrne Asset Management LLC bought a new stake in shares of Rayonier during the 1st quarter worth $38,000. Finally, Covestor Ltd lifted its position in shares of Rayonier by 30.0% during the 4th quarter. Covestor Ltd now owns 2,317 shares of the real estate investment trust's stock worth $60,000 after buying an additional 535 shares during the last quarter. 89.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RYN. Royal Bank Of Canada dropped their price objective on 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 upgraded Rayonier from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Truist Financial dropped their price objective on Rayonier from $30.00 to $27.00 and set a "hold" rating for the company in a research report on Tuesday, April 22nd. Finally, Citigroup dropped 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 analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $27.75.

Rayonier Price Performance

Rayonier stock opened at $23.57 on Monday. The company has a current ratio of 2.71, a quick ratio of 2.60 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $3.67 billion, a PE ratio of 10.12 and a beta of 1.02. Rayonier Inc. has a 12 month low of $21.84 and a 12 month high of $31.29. The stock has a 50-day moving average price of $23.31 and a two-hundred day moving average price of $25.00.

Rayonier (NYSE:RYN - Get Free Report) last posted its earnings results 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). The firm had revenue of $82.90 million during the quarter, compared to the consensus estimate of $152.99 million. Rayonier had a net margin of 30.09% and a return on equity of 3.29%. Rayonier's revenue for the quarter was down 27.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.01 earnings per share. Analysts expect that Rayonier Inc. will post 0.55 EPS for the current year.

Rayonier Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a $0.2725 dividend. This represents a $1.09 annualized dividend and a dividend yield of 4.62%. Rayonier's payout ratio is 46.78%.

Rayonier Company 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.

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