Rhumbline Advisers Purchases 15,650 Shares of Rayonier Inc. (NYSE:RYN)

Rhumbline Advisers increased its holdings in shares of Rayonier Inc. (NYSE:RYN - Free Report) by 3.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 437,423 shares of the real estate investment trust's stock after acquiring an additional 15,650 shares during the quarter. Rhumbline Advisers owned about 0.28% of Rayonier worth $12,195,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of RYN. Oppenheimer & Co. Inc. acquired a new position in shares of Rayonier during the 4th quarter worth approximately $327,000. HighTower Advisors LLC boosted its stake in shares of Rayonier by 3.4% in the fourth quarter. HighTower Advisors LLC now owns 66,571 shares of the real estate investment trust's stock valued at $1,738,000 after buying an additional 2,168 shares during the period. Marshall Wace LLP acquired a new stake in Rayonier during the fourth quarter worth approximately $376,000. Charles Schwab Investment Management Inc. grew its position in Rayonier by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,488,802 shares of the real estate investment trust's stock worth $64,958,000 after buying an additional 46,956 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Rayonier by 9.4% during the 4th quarter. Invesco Ltd. now owns 370,474 shares of the real estate investment trust's stock worth $9,669,000 after acquiring an additional 31,916 shares during the period. 89.12% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on RYN. Royal Bank of Canada reduced their target price on Rayonier from $28.00 to $27.00 and set a "sector perform" rating on the stock in a report on Friday, May 2nd. Raymond James raised shares of Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 price objective for the company in a research report on Wednesday, March 12th. Citigroup decreased their target price on shares of Rayonier from $27.00 to $26.00 and set a "neutral" rating on the stock in a report on Tuesday, June 3rd. Wall Street Zen upgraded shares of Rayonier from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, Truist Financial reduced 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. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $27.75.

Rayonier Price Performance

NYSE:RYN traded up $0.31 during trading hours on Monday, hitting $23.77. The company's stock had a trading volume of 765,141 shares, compared to its average volume of 871,829. The stock has a fifty day simple moving average of $24.16 and a 200-day simple moving average of $26.23. The company has a market capitalization of $3.70 billion, a P/E ratio of 10.07 and a beta of 1.05. 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 twelve month low of $22.80 and a twelve month high of $31.29.

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 company had revenue of $82.90 million during the quarter, compared to the consensus estimate of $152.99 million. During the same period last year, the company posted $0.01 EPS. The firm's revenue was down 27.1% compared to the same quarter last year. On average, analysts anticipate that Rayonier Inc. will post 0.55 EPS for the current fiscal year.

Rayonier Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a $0.2725 dividend. This represents a $1.09 annualized dividend and a yield of 4.59%. The ex-dividend date is Monday, June 16th. 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.