Rayonier Inc. (NYSE:RYN) Shares Bought by Tidal Investments LLC

Tidal Investments LLC boosted its position in Rayonier Inc. (NYSE:RYN - Free Report) by 18.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 98,121 shares of the real estate investment trust's stock after acquiring an additional 15,318 shares during the quarter. Tidal Investments LLC owned 0.07% of Rayonier worth $2,561,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Rayonier during the fourth quarter worth approximately $343,007,000. Massachusetts Financial Services Co. MA grew its position in Rayonier by 0.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,372,817 shares of the real estate investment trust's stock valued at $88,031,000 after buying an additional 20,126 shares during the last quarter. Legal & General Group Plc grew its position in Rayonier by 5.8% in the 4th quarter. Legal & General Group Plc now owns 3,107,331 shares of the real estate investment trust's stock valued at $81,101,000 after buying an additional 170,087 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Rayonier by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 2,632,193 shares of the real estate investment trust's stock valued at $68,719,000 after acquiring an additional 39,332 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Rayonier by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,488,802 shares of the real estate investment trust's stock valued at $64,958,000 after acquiring an additional 46,956 shares during the period. Institutional investors and hedge funds own 89.12% of the company's stock.

Analysts Set New Price Targets

RYN has been the subject of several research reports. Truist Financial cut their price target on Rayonier from $30.00 to $27.00 and set a "hold" rating for the company in a research note on Tuesday, April 22nd. Raymond James upgraded shares of Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 target price on the stock in a report on Wednesday, March 12th. Royal Bank of Canada dropped their price objective 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. Finally, Wall Street Zen upgraded shares of Rayonier from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $27.50.

Rayonier Stock Down 1.4%

Shares of Rayonier stock traded down $0.33 on Wednesday, hitting $23.27. 461,609 shares of the company's stock traded hands, compared to its average volume of 855,884. The stock has a market cap of $3.62 billion, a P/E ratio of 9.86 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. The firm's 50-day moving average is $24.85 and its 200 day moving average is $26.62. Rayonier Inc. has a 52-week low of $22.80 and a 52-week high of $31.29.

Rayonier (NYSE:RYN - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $82.90 million during the quarter, compared to analyst estimates of $152.99 million. Rayonier had a return on equity of 3.86% and a net margin of 28.44%. The business's revenue for the quarter was down 27.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.01 EPS. Equities analysts anticipate that Rayonier Inc. will post 0.55 earnings per share for the current year.

Rayonier Announces Dividend

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 issued a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date of this dividend is Monday, June 16th. Rayonier's dividend payout ratio is presently 46.78%.

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.