Teacher Retirement System of Texas Has $1.85 Million Stake in Rayonier Inc. (NYSE:RYN)

Teacher Retirement System of Texas raised its holdings in Rayonier Inc. (NYSE:RYN - Free Report) by 126.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,327 shares of the real estate investment trust's stock after buying an additional 37,044 shares during the quarter. Teacher Retirement System of Texas' holdings in Rayonier were worth $1,849,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. New York State Teachers Retirement System grew its position in shares of Rayonier by 5.4% during the 1st quarter. New York State Teachers Retirement System now owns 166,119 shares of the real estate investment trust's stock worth $4,631,000 after buying an additional 8,565 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Rayonier by 4.6% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 54,144 shares of the real estate investment trust's stock valued at $1,510,000 after acquiring an additional 2,377 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of Rayonier by 18.4% during the first quarter. Robeco Institutional Asset Management B.V. now owns 212,050 shares of the real estate investment trust's stock worth $5,912,000 after purchasing an additional 32,970 shares during the period. Sequoia Financial Advisors LLC increased its holdings in Rayonier by 4.7% in the first quarter. Sequoia Financial Advisors LLC now owns 82,302 shares of the real estate investment trust's stock valued at $2,295,000 after purchasing an additional 3,664 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its stake in Rayonier by 22.4% in the first quarter. Oppenheimer Asset Management Inc. now owns 11,008 shares of the real estate investment trust's stock valued at $307,000 after buying an additional 2,013 shares during the period. Institutional investors own 89.12% of the company's stock.

Rayonier Stock Down 0.1%

RYN traded down $0.02 on Friday, hitting $23.51. 790,734 shares of the company were exchanged, compared to its average volume of 920,503. The stock's fifty day moving average is $23.30 and its 200-day moving average is $25.12. Rayonier Inc. has a 12 month low of $21.84 and a 12 month high of $31.29. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.60 and a current ratio of 2.71. The company has a market cap of $3.66 billion, a PE ratio of 10.09 and a beta of 1.02.

Rayonier (NYSE:RYN - Get Free Report) last issued its quarterly 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 company had revenue of $82.90 million during the quarter, compared to the consensus estimate of $152.99 million. Rayonier had a net margin of 30.09% and a return on equity of 3.29%. The company's quarterly revenue was down 27.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.01 earnings per share. Equities research analysts predict that Rayonier Inc. will post 0.55 EPS for the current fiscal year.

Rayonier Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a dividend of $0.2725 per share. The ex-dividend date was Monday, June 16th. This represents a $1.09 annualized dividend and a dividend yield of 4.64%. Rayonier's dividend payout ratio (DPR) is presently 46.78%.

Analyst Ratings Changes

A number of brokerages recently issued reports on RYN. Citigroup decreased their price objective on shares of Rayonier from $27.00 to $26.00 and set a "neutral" rating for the company in a report on Tuesday, June 3rd. Truist Financial lowered their price objective on shares of Rayonier from $30.00 to $27.00 and set a "hold" rating for the company in a research report on Tuesday, April 22nd. Wall Street Zen raised Rayonier from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, Royal Bank Of Canada lowered their target price on Rayonier from $28.00 to $27.00 and set a "sector perform" rating for the company in a research note on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Rayonier has an average rating of "Hold" and an average price target of $27.75.

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.