Nuveen Asset Management LLC Lowers Stock Position in Rayonier Inc. (NYSE:RYN)

Nuveen Asset Management LLC lessened its holdings in Rayonier Inc. (NYSE:RYN - Free Report) by 33.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 273,487 shares of the real estate investment trust's stock after selling 140,454 shares during the period. Nuveen Asset Management LLC owned about 0.18% of Rayonier worth $7,138,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd purchased a new stake in shares of Rayonier in the fourth quarter worth approximately $25,000. Steward Partners Investment Advisory LLC grew its holdings in 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 worth $44,000 after buying an additional 1,217 shares in the last quarter. Covestor Ltd raised its position in Rayonier by 30.0% in the 4th quarter. Covestor Ltd now owns 2,317 shares of the real estate investment trust's stock valued at $60,000 after buying an additional 535 shares during the last quarter. KBC Group NV raised its position in Rayonier by 61.1% in the 4th quarter. KBC Group NV now owns 6,460 shares of the real estate investment trust's stock valued at $169,000 after buying an additional 2,449 shares during the last quarter. Finally, Quarry LP purchased a new position in Rayonier during the 4th quarter worth $173,000. Institutional investors own 89.12% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. 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 report on Tuesday, April 22nd. Wall Street Zen raised shares of Rayonier from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Citigroup decreased their price objective on shares of Rayonier from $27.00 to $26.00 and set a "neutral" rating for the company in a report on Tuesday. Royal Bank of Canada dropped their target price 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. Finally, Raymond James raised shares of Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 price target on the stock in a research report 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's stock. According to MarketBeat, Rayonier currently has an average rating of "Hold" and a consensus target price of $27.75.

Rayonier Price Performance

NYSE RYN traded up $0.05 during trading hours on Tuesday, hitting $23.34. The company had a trading volume of 865,417 shares, compared to its average volume of 867,585. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.85 and a current ratio of 1.12. The firm has a market capitalization of $3.64 billion, a price-to-earnings ratio of 9.89 and a beta of 1.07. Rayonier Inc. has a 52 week low of $22.80 and a 52 week high of $31.29. The firm has a 50 day simple moving average of $24.43 and a 200 day simple moving average of $26.40.

Rayonier (NYSE:RYN - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $152.99 million. Rayonier had a net margin of 28.44% and a return on equity of 3.86%. Rayonier's revenue was down 27.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.01 EPS. Equities research analysts expect that Rayonier Inc. will post 0.55 earnings per share for the current year.

Rayonier Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a yield of 4.67%. The ex-dividend date of this dividend is Monday, June 16th. Rayonier's payout ratio is 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.