D. E. Shaw & Co. Inc. raised its position in shares of Rayonier Inc. (NYSE:RYN - Free Report) by 12.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 114,613 shares of the real estate investment trust's stock after purchasing an additional 12,700 shares during the quarter. D. E. Shaw & Co. Inc. owned 0.08% of Rayonier worth $2,991,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in Rayonier during the fourth quarter valued at $343,007,000. Massachusetts Financial Services Co. MA grew its holdings in shares of Rayonier by 0.6% in the fourth 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 purchasing an additional 20,126 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Rayonier by 5.8% in the fourth quarter. Legal & General Group Plc now owns 3,107,331 shares of the real estate investment trust's stock worth $81,101,000 after purchasing an additional 170,087 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Rayonier by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 2,632,193 shares of the real estate investment trust's stock worth $68,719,000 after purchasing an additional 39,332 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Rayonier by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,488,802 shares of the real estate investment trust's stock worth $64,958,000 after acquiring an additional 46,956 shares during the period. Hedge funds and other institutional investors own 89.12% of the company's stock.
Rayonier Price Performance
Shares of NYSE RYN opened at $24.05 on Tuesday. The stock has a market capitalization of $3.75 billion, a price-to-earnings ratio of 10.19 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 firm's 50 day simple moving average is $25.38 and its 200-day simple moving average is $26.92. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.12 and a quick ratio of 1.85.
Rayonier (NYSE:RYN - Get Free Report) last issued 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 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%. Rayonier's revenue was down 27.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.01 EPS. Analysts expect that Rayonier Inc. will post 0.55 EPS for the current year.
Rayonier Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a $0.2725 dividend. This represents a $1.09 annualized dividend and a yield of 4.53%. The ex-dividend date is Monday, June 16th. Rayonier's payout ratio is presently 46.78%.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on the stock. Raymond James raised shares of Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 price objective for the company in a research note on Wednesday, March 12th. Truist Financial dropped their target price on shares of Rayonier from $30.00 to $27.00 and set a "hold" rating on the stock in a research report on Tuesday, April 22nd. 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. Finally, StockNews.com raised shares of Rayonier from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Rayonier has a consensus rating of "Hold" and a consensus target price of $27.50.
View Our Latest Research Report on RYN
About Rayonier
(
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.
See Also
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