217,286 Shares in Rayonier Inc. (NYSE:RYN) Acquired by Point72 Asset Management L.P.

Point72 Asset Management L.P. acquired a new stake in shares of Rayonier Inc. (NYSE:RYN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 217,286 shares of the real estate investment trust's stock, valued at approximately $5,671,000. Point72 Asset Management L.P. owned 0.15% of Rayonier as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently 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 $25,000. UMB Bank n.a. lifted its holdings in shares of Rayonier by 59.7% in the 4th quarter. UMB Bank n.a. now owns 1,404 shares of the real estate investment trust's stock worth $37,000 after acquiring an additional 525 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of Rayonier by 264.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,677 shares of the real estate investment trust's stock worth $44,000 after acquiring an additional 1,217 shares during the last quarter. Covestor Ltd increased its stake in Rayonier by 30.0% in the 4th quarter. Covestor Ltd now owns 2,317 shares of the real estate investment trust's stock worth $60,000 after buying an additional 535 shares during the period. Finally, KBC Group NV increased its stake 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 worth $169,000 after buying an additional 2,449 shares during the period. Institutional investors own 89.12% of the company's stock.

Rayonier Price Performance

NYSE RYN traded down $0.03 on Friday, 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 market capitalization of $3.63 billion, a PE ratio of 9.88 and a beta of 1.07. The company's fifty day moving average price is $25.04 and its 200-day moving average price is $26.70. 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 Inc. has a 12-month low of $22.80 and a 12-month high of $31.29.

Rayonier (NYSE:RYN - Get Free Report) last released its earnings results on Wednesday, April 30th. The real estate investment trust reported ($0.02) earnings per share (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 business had revenue of $82.90 million for the quarter, compared to analysts' expectations of $152.99 million. During the same period in the previous year, the company earned $0.01 EPS. Rayonier's quarterly revenue was down 27.1% compared to the same quarter last year. As a group, analysts predict 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. Shareholders of record on Monday, June 16th will be given a $0.2725 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.09 dividend on an annualized basis and a yield of 4.68%. Rayonier's dividend payout ratio is currently 46.78%.

Wall Street Analysts Forecast Growth

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

Rayonier Company 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.