Cwm LLC Increases Stock Holdings in Rayonier Inc. (NYSE:RYN)

CWM LLC increased its stake in shares of Rayonier Inc. (NYSE:RYN - Free Report) by 1,684.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,745 shares of the real estate investment trust's stock after purchasing an additional 59,228 shares during the quarter. CWM LLC's holdings in Rayonier were worth $1,749,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Rayonier in the fourth quarter valued at approximately $343,007,000. Massachusetts Financial Services Co. MA raised its position in Rayonier by 0.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,372,817 shares of the real estate investment trust's stock worth $88,031,000 after acquiring an additional 20,126 shares in the last quarter. Legal & General Group Plc raised its position in Rayonier by 5.8% during the fourth quarter. Legal & General Group Plc now owns 3,107,331 shares of the real estate investment trust's stock worth $81,101,000 after acquiring an additional 170,087 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Rayonier by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 2,632,193 shares of the real estate investment trust's stock worth $68,719,000 after buying an additional 39,332 shares during the period. Finally, Deutsche Bank AG boosted its holdings in shares of Rayonier by 730.8% during 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 buying an additional 1,609,232 shares during the period. Institutional investors and hedge funds own 89.12% of the company's stock.

Wall Street Analysts Forecast Growth

RYN has been the subject of several analyst reports. Wall Street Zen upgraded shares of Rayonier from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Truist Financial dropped their price target on shares of Rayonier from $30.00 to $27.00 and set a "hold" rating on the stock in a research report on Tuesday, April 22nd. 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 report on Friday, May 2nd. Finally, Citigroup dropped their target price on shares of Rayonier from $27.00 to $26.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 3rd. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Rayonier presently has an average rating of "Hold" and a consensus price target of $27.75.

Rayonier Stock Up 0.1%

RYN stock traded up $0.02 during midday trading on Monday, reaching $23.58. 831,329 shares of the company's stock traded hands, compared to its average volume of 1,120,523. The company has a market cap of $3.67 billion, a price-to-earnings ratio of 10.12 and a beta of 1.02. The firm's fifty day moving average price is $23.31 and its 200-day moving average price is $25.00. The company has a quick ratio of 2.60, a current ratio of 2.71 and a debt-to-equity ratio of 0.54. Rayonier Inc. has a 52 week low of $21.84 and a 52 week high of $32.88.

Rayonier (NYSE:RYN - Get Free Report) last posted its earnings results on Wednesday, April 30th. The real estate investment trust reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.10). The firm had revenue of $82.90 million during the quarter, compared to the consensus estimate of $152.99 million. Rayonier had a return on equity of 3.29% and a net margin of 30.09%. The business's revenue was down 27.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.01 EPS. As a group, sell-side analysts forecast that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.

Rayonier Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a yield of 4.62%. Rayonier's dividend payout ratio (DPR) is presently 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.