UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 33,727 Shares of Rayonier Inc. (NYSE:RYN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its holdings in shares of Rayonier Inc. (NYSE:RYN - Free Report) by 7.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 423,643 shares of the real estate investment trust's stock after selling 33,727 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.28% of Rayonier worth $11,057,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of RYN. KBC Group NV raised its stake in Rayonier by 61.1% during the fourth quarter. KBC Group NV now owns 6,460 shares of the real estate investment trust's stock worth $169,000 after acquiring an additional 2,449 shares in the last quarter. Pacer Advisors Inc. boosted its position in Rayonier by 2.3% during the 4th quarter. Pacer Advisors Inc. now owns 19,993 shares of the real estate investment trust's stock worth $522,000 after buying an additional 442 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in shares of Rayonier by 0.6% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 179,080 shares of the real estate investment trust's stock valued at $4,674,000 after buying an additional 1,000 shares during the period. Brown Lisle Cummings Inc. lifted its stake in shares of Rayonier by 17.3% in the 4th quarter. Brown Lisle Cummings Inc. now owns 9,824 shares of the real estate investment trust's stock valued at $256,000 after purchasing an additional 1,452 shares during the period. Finally, State of Alaska Department of Revenue boosted its stake in Rayonier by 3.8% during the fourth quarter. State of Alaska Department of Revenue now owns 89,658 shares of the real estate investment trust's stock worth $2,339,000 after acquiring an additional 3,304 shares in the last quarter. 89.12% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RYN has been the topic of several recent research reports. Truist Financial cut their price target on Rayonier from $30.00 to $27.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. Wall Street Zen upgraded Rayonier from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Royal Bank of Canada dropped their price target on Rayonier from $28.00 to $27.00 and set a "sector perform" rating on the stock in a research report on Friday, May 2nd. Raymond James upgraded Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 target price for the company in a research note on Wednesday, March 12th. Finally, Citigroup dropped their price objective on Rayonier from $27.00 to $26.00 and set a "neutral" rating for the company in a research note on Tuesday. Four 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, the company presently has an average rating of "Hold" and an average price target of $27.75.

Rayonier Price Performance

Shares of NYSE RYN traded up $0.16 during mid-day trading on Wednesday, reaching $23.48. 939,646 shares of the company were exchanged, compared to its average volume of 868,669. Rayonier Inc. has a 52 week low of $22.80 and a 52 week high of $31.29. The company's 50 day moving average price is $24.34 and its 200 day moving average price is $26.38. The stock has a market capitalization of $3.66 billion, a PE ratio of 9.95 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.

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 firm had revenue of $82.90 million for the quarter, compared to the consensus estimate of $152.99 million. Rayonier had a return on equity of 3.86% and a net margin of 28.44%. The company's revenue for the quarter was down 27.1% on a year-over-year basis. During the same period last year, the firm earned $0.01 EPS. Sell-side analysts forecast that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.

Rayonier Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a $0.2725 dividend. This represents a $1.09 annualized dividend and a yield of 4.64%. The ex-dividend date is Monday, June 16th. Rayonier's dividend payout ratio is currently 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.