D. E. Shaw & Co. Inc. raised its position in Rayonier Inc. (NYSE:RYN - Free Report) by 12.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 114,613 shares of the real estate investment trust's stock after acquiring an additional 12,700 shares during the period. D. E. Shaw & Co. Inc. owned approximately 0.08% of Rayonier worth $2,991,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of the company. Deutsche Bank AG boosted its stake in Rayonier by 730.8% in the fourth quarter. Deutsche Bank AG now owns 1,829,422 shares of the real estate investment trust's stock valued at $47,748,000 after acquiring an additional 1,609,232 shares in the last quarter. CoreCommodity Management LLC boosted its stake in Rayonier by 9.3% in the fourth quarter. CoreCommodity Management LLC now owns 13,567 shares of the real estate investment trust's stock valued at $354,000 after acquiring an additional 1,157 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Rayonier in the fourth quarter valued at approximately $176,000. Centiva Capital LP boosted its stake in Rayonier by 14.7% in the fourth quarter. Centiva Capital LP now owns 56,612 shares of the real estate investment trust's stock valued at $1,478,000 after acquiring an additional 7,247 shares in the last quarter. Finally, Brevan Howard Capital Management LP acquired a new stake in Rayonier in the fourth quarter valued at approximately $324,000. 89.12% of the stock is currently owned by institutional investors and hedge funds.
Rayonier Stock Performance
Shares of NYSE RYN traded down $0.03 during midday trading on Friday, reaching $23.31. The company had a trading volume of 569,491 shares, compared to its average volume of 853,883. The business's 50-day simple moving average is $25.04 and its 200 day simple moving average is $26.70. The stock has a market cap of $3.63 billion, a P/E ratio of 9.88 and a beta of 1.07. Rayonier Inc. has a 1 year low of $22.80 and a 1 year high of $31.29. The company has a current ratio of 1.12, a quick ratio of 1.85 and a debt-to-equity ratio of 0.61.
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 analysts' consensus estimates of $0.08 by ($0.10). The company had revenue of $82.90 million during 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 quarterly revenue was down 27.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.01 EPS. On average, analysts forecast that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.
Rayonier Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a $0.2725 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.68%. Rayonier's dividend payout ratio is currently 46.78%.
Wall Street Analysts Forecast Growth
RYN has been the subject of several recent analyst reports. Truist Financial lowered 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. Royal Bank of Canada lowered 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 note on Friday, May 2nd. Raymond James upgraded shares of Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 target price for the company in a research note on Wednesday, March 12th. Finally, Wall Street Zen raised shares of Rayonier from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Four 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 currently has an average rating of "Hold" and an average target price of $27.50.
Get Our Latest Research 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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