Cwm LLC Buys 59,228 Shares of Rayonier Inc. (NYSE:RYN)

CWM LLC lifted its stake in shares of Rayonier Inc. (NYSE:RYN - Free Report) by 1,684.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 62,745 shares of the real estate investment trust's stock after buying an additional 59,228 shares during the quarter. CWM LLC's holdings in Rayonier were worth $1,749,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Harvest Fund Management Co. Ltd bought a new stake in Rayonier during the 4th quarter worth approximately $25,000. American National Bank & Trust bought a new position in shares of Rayonier in the first quarter valued at approximately $28,000. Parallel Advisors LLC grew its holdings in shares of Rayonier by 133.5% in the first quarter. Parallel Advisors LLC now owns 1,123 shares of the real estate investment trust's stock valued at $31,000 after acquiring an additional 642 shares in the last quarter. Byrne Asset Management LLC bought a new position in shares of Rayonier in the first quarter valued at approximately $38,000. Finally, Covestor Ltd grew its holdings in shares of Rayonier by 30.0% in the fourth quarter. Covestor Ltd now owns 2,317 shares of the real estate investment trust's stock valued at $60,000 after acquiring an additional 535 shares in the last quarter. Institutional investors and hedge funds own 89.12% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RYN. Citigroup reduced their price objective on Rayonier from $27.00 to $26.00 and set a "neutral" rating for the company in a report on Tuesday, June 3rd. Royal Bank Of Canada decreased their price objective on Rayonier from $28.00 to $27.00 and set a "sector perform" rating for the company in a report on Friday, May 2nd. Truist Financial cut their price target on Rayonier from $30.00 to $27.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd. Finally, Wall Street Zen raised Rayonier from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $27.75.

Rayonier Price Performance

Shares of NYSE RYN traded down $0.17 during midday trading on Wednesday, hitting $24.19. 1,044,111 shares of the company's stock were exchanged, compared to its average volume of 922,091. Rayonier Inc. has a 12-month low of $21.84 and a 12-month high of $31.29. The company has a current ratio of 2.71, a quick ratio of 2.60 and a debt-to-equity ratio of 0.54. The company has a market cap of $3.77 billion, a price-to-earnings ratio of 10.38 and a beta of 1.02. The business's fifty day moving average price is $23.31 and its two-hundred day moving average price is $24.97.

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

Rayonier Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be given a dividend of $0.2725 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.09 dividend on an annualized basis and a yield of 4.51%. Rayonier's payout ratio is 46.78%.

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.