Crossmark Global Holdings Inc. Grows Position in Rayonier Inc. (NYSE:RYN)

Crossmark Global Holdings Inc. increased its holdings in shares of Rayonier Inc. (NYSE:RYN - Free Report) by 13.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 329,787 shares of the real estate investment trust's stock after purchasing an additional 39,002 shares during the quarter. Crossmark Global Holdings Inc. owned approximately 0.21% of Rayonier worth $9,194,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd bought a new stake in shares of Rayonier in the 4th quarter valued at approximately $25,000. American National Bank & Trust purchased a new stake in Rayonier in the first quarter worth about $28,000. Parallel Advisors LLC lifted its stake in Rayonier by 133.5% in the first quarter. Parallel Advisors LLC now owns 1,123 shares of the real estate investment trust's stock worth $31,000 after acquiring an additional 642 shares during the period. Byrne Asset Management LLC purchased a new stake in shares of Rayonier during the first quarter valued at about $38,000. Finally, Steward Partners Investment Advisory LLC lifted its position in shares of Rayonier by 264.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,677 shares of the real estate investment trust's stock valued at $44,000 after buying an additional 1,217 shares during the last quarter. Hedge funds and other institutional investors own 89.12% of the company's stock.

Wall Street Analysts Forecast Growth

RYN has been the subject of a number of recent research reports. Royal Bank Of Canada reduced their price target 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. Truist Financial cut their target price on shares of Rayonier from $30.00 to $27.00 and set a "hold" rating for the company in a research note on Tuesday, April 22nd. Wall Street Zen upgraded Rayonier from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Citigroup dropped their price target on Rayonier from $27.00 to $26.00 and set a "neutral" rating for the company in a research report on Tuesday, June 3rd. Finally, Raymond James Financial raised Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 target price on the stock in a research note on Wednesday, March 12th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $27.75.

Rayonier Stock Performance

NYSE:RYN traded up $0.47 during mid-day trading on Wednesday, reaching $23.55. 1,823,774 shares of the stock were exchanged, compared to its average volume of 918,555. The company has a 50 day simple moving average of $23.30 and a 200-day simple moving average of $25.14. The stock has a market capitalization of $3.67 billion, a P/E ratio of 10.11 and a beta of 1.02. The company has a quick ratio of 2.60, a current ratio of 2.71 and a debt-to-equity ratio of 0.54. Rayonier Inc. has a 1 year low of $21.84 and a 1 year high of $31.29.

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

Rayonier Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were issued a dividend of $0.2725 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $1.09 annualized dividend and a yield of 4.63%. Rayonier's dividend payout ratio is presently 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.