Nuveen LLC acquired a new position in shares of Rayonier Inc. (NYSE:RYN - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 939,287 shares of the real estate investment trust's stock, valued at approximately $26,187,000. Nuveen LLC owned approximately 0.60% of Rayonier as of its most recent SEC filing.
Several other large investors have also modified their holdings of the stock. Securian Asset Management Inc. boosted its stake in Rayonier by 4.6% in the 1st quarter. Securian Asset Management Inc. now owns 10,603 shares of the real estate investment trust's stock worth $296,000 after purchasing an additional 466 shares in the last quarter. Shell Asset Management Co. grew its holdings in Rayonier by 4.5% during the 4th quarter. Shell Asset Management Co. now owns 11,652 shares of the real estate investment trust's stock valued at $304,000 after buying an additional 497 shares in the last quarter. Hollencrest Capital Management lifted its position in Rayonier by 5.1% in the first quarter. Hollencrest Capital Management now owns 10,509 shares of the real estate investment trust's stock worth $293,000 after buying an additional 509 shares during the last quarter. Hamilton Point Investment Advisors LLC boosted its stake in shares of Rayonier by 4.5% during the first quarter. Hamilton Point Investment Advisors LLC now owns 13,183 shares of the real estate investment trust's stock valued at $368,000 after purchasing an additional 563 shares during the period. Finally, Timber Creek Capital Management LLC boosted its stake in shares of Rayonier by 4.5% during the first quarter. Timber Creek Capital Management LLC now owns 13,957 shares of the real estate investment trust's stock valued at $389,000 after purchasing an additional 596 shares during the period. 89.12% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of research firms have recently weighed in on RYN. Royal Bank Of Canada raised their price objective on Rayonier from $26.00 to $27.00 and gave the stock a "sector perform" rating in a research report on Friday, August 8th. Citigroup upped their price objective on Rayonier from $26.00 to $27.00 and gave the stock a "neutral" rating in a research report on Thursday. Finally, Wall Street Zen upgraded Rayonier from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $28.00.
Read Our Latest Report on RYN
Rayonier Price Performance
Shares of NYSE:RYN traded up $0.5950 on Friday, hitting $27.2150. The company had a trading volume of 191,554 shares, compared to its average volume of 1,103,449. The business has a 50 day moving average of $23.93 and a 200 day moving average of $24.82. Rayonier Inc. has a 52-week low of $21.84 and a 52-week high of $32.88. The company has a market cap of $4.20 billion, a PE ratio of 5.50 and a beta of 1.00. The company has a current ratio of 3.50, a quick ratio of 3.38 and a debt-to-equity ratio of 0.37.
Rayonier (NYSE:RYN - Get Free Report) last posted its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.03. Rayonier had a return on equity of 3.39% and a net margin of 68.53%.The business had revenue of $106.50 million during the quarter, compared to analyst estimates of $95.30 million. During the same quarter last year, the firm earned $0.02 earnings per share. The company's revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, equities analysts anticipate that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.
Rayonier Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a $0.2725 dividend. This represents a $1.09 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Tuesday, September 16th. Rayonier's dividend payout ratio is currently 22.02%.
Rayonier Company 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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