GAMMA Investing LLC lifted its stake in shares of Rayonier Inc. (NYSE:RYN - Free Report) by 4,211.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 74,718 shares of the real estate investment trust's stock after acquiring an additional 72,985 shares during the period. GAMMA Investing LLC's holdings in Rayonier were worth $2,083,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also modified their holdings of RYN. Oppenheimer & Co. Inc. purchased a new stake in Rayonier in the 4th quarter valued at about $327,000. HighTower Advisors LLC increased its stake in Rayonier by 3.4% during the fourth quarter. HighTower Advisors LLC now owns 66,571 shares of the real estate investment trust's stock worth $1,738,000 after purchasing an additional 2,168 shares during the period. Marshall Wace LLP purchased a new stake in Rayonier during the fourth quarter worth about $376,000. Charles Schwab Investment Management Inc. increased its stake in Rayonier by 1.9% during 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 purchasing an additional 46,956 shares during the period. Finally, Invesco Ltd. increased its stake in Rayonier by 9.4% during the fourth quarter. Invesco Ltd. now owns 370,474 shares of the real estate investment trust's stock worth $9,669,000 after purchasing an additional 31,916 shares during the period. Hedge funds and other institutional investors own 89.12% of the company's stock.
Analysts Set New Price Targets
A number of analysts have issued reports on RYN shares. Royal Bank of Canada cut their price target on shares of Rayonier from $28.00 to $27.00 and set a "sector perform" rating on the stock in a research note on Friday, May 2nd. Truist Financial lowered 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. Citigroup lowered their price target on Rayonier from $27.00 to $26.00 and set a "neutral" rating for the company in a report on Tuesday, June 3rd. Raymond James raised Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 price objective for the company in a report on Wednesday, March 12th. Finally, Wall Street Zen raised Rayonier from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $27.75.
View Our Latest Analysis on RYN
Rayonier Stock Performance
Shares of Rayonier stock traded down $0.45 during trading hours on Friday, hitting $23.41. 619,251 shares of the company were exchanged, compared to its average volume of 875,667. 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. The business has a 50-day moving average of $23.99 and a 200-day moving average of $26.04. The stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of 9.92 and a beta of 1.05.
Rayonier (NYSE:RYN - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported ($0.02) earnings per share (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 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 revenue was down 27.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.01 EPS. As a group, analysts expect that Rayonier Inc. will post 0.55 EPS for the current fiscal year.
Rayonier Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a $0.2725 dividend. This represents a $1.09 annualized dividend and a yield of 4.66%. The ex-dividend date is Monday, June 16th. Rayonier's payout ratio is 46.78%.
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.
Featured Stories
Before you consider Rayonier, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Rayonier wasn't on the list.
While Rayonier currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
