PharVision Advisers LLC Acquires Shares of 18,922 Rayonier Inc. (NYSE:RYN)

PharVision Advisers LLC acquired a new position in Rayonier Inc. (NYSE:RYN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 18,922 shares of the real estate investment trust's stock, valued at approximately $494,000.

Several other large investors also recently added to or reduced their stakes in RYN. Norges Bank purchased a new position in shares of Rayonier during the 4th quarter worth $343,007,000. Deutsche Bank AG raised its holdings in Rayonier by 730.8% in the 4th quarter. Deutsche Bank AG now owns 1,829,422 shares of the real estate investment trust's stock worth $47,748,000 after purchasing an additional 1,609,232 shares during the period. Franklin Resources Inc. purchased a new position in Rayonier during the fourth quarter valued at $30,935,000. Millennium Management LLC lifted its position in Rayonier by 253.3% during the fourth quarter. Millennium Management LLC now owns 1,094,880 shares of the real estate investment trust's stock valued at $28,576,000 after purchasing an additional 784,955 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Rayonier by 17.9% during the 4th quarter. Northern Trust Corp now owns 1,543,523 shares of the real estate investment trust's stock valued at $40,286,000 after acquiring an additional 234,629 shares during the period. 89.12% of the stock is currently owned by institutional investors.

Rayonier Price Performance

RYN stock traded down $0.03 during mid-day trading on Monday, hitting $23.31. The company had a trading volume of 569,491 shares, compared to its average volume of 853,883. The company has a 50-day moving average price of $25.04 and a 200 day moving average price of $26.70. Rayonier Inc. has a 12-month low of $22.80 and a 12-month high of $31.29. The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of 9.88 and a beta of 1.07. The company has a quick ratio of 1.85, a current ratio of 1.12 and a debt-to-equity ratio of 0.61.

Rayonier (NYSE:RYN - Get Free Report) last posted its earnings results on Wednesday, April 30th. The real estate investment trust reported ($0.02) EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($0.10). Rayonier had a return on equity of 3.86% and a net margin of 28.44%. The firm had revenue of $82.90 million during the quarter, compared to analysts' expectations of $152.99 million. During the same quarter in the prior year, the firm posted $0.01 earnings per share. Rayonier's quarterly revenue was down 27.1% on a year-over-year basis. On average, research analysts anticipate that Rayonier Inc. will post 0.55 earnings per share for the current year.

Rayonier Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $0.2725 per share. 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

A number of brokerages have recently issued reports on RYN. Truist Financial reduced their price objective 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. Wall Street Zen upgraded Rayonier from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Royal Bank of Canada decreased their price target on Rayonier from $28.00 to $27.00 and set a "sector perform" rating on the stock in a report on Friday, May 2nd. Finally, Raymond James upgraded Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 price target for the company in a research note on Wednesday, March 12th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $27.50.

About Rayonier

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.