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 lessened its holdings in Rayonier Inc. (NYSE:RYN - Free Report) by 7.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in RYN. Harvest Fund Management Co. Ltd purchased a new stake in shares of Rayonier in the fourth quarter worth approximately $25,000. Steward Partners Investment Advisory LLC boosted its position in shares of Rayonier by 264.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,677 shares of the real estate investment trust's stock valued at $44,000 after buying an additional 1,217 shares during the last quarter. Covestor Ltd grew its holdings in Rayonier by 30.0% during the fourth quarter. Covestor Ltd now owns 2,317 shares of the real estate investment trust's stock worth $60,000 after buying an additional 535 shares in the last quarter. KBC Group NV raised its position in Rayonier by 61.1% in the 4th quarter. KBC Group NV now owns 6,460 shares of the real estate investment trust's stock valued at $169,000 after buying an additional 2,449 shares during the last quarter. Finally, Quarry LP purchased a new stake in Rayonier in the 4th quarter valued at $173,000. Institutional investors own 89.12% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Truist Financial cut their price objective on shares of Rayonier from $30.00 to $27.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. Royal Bank of Canada cut their price target on shares of 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 upgraded 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 note on Wednesday, March 12th. Wall Street Zen raised shares of Rayonier from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, Citigroup reduced their target price on Rayonier from $27.00 to $26.00 and set a "neutral" rating for the company in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, Rayonier has a consensus rating of "Hold" and a consensus price target of $27.75.

Rayonier Stock Performance

Shares of NYSE:RYN traded up $0.03 during midday trading on Tuesday, reaching $23.32. The company had a trading volume of 445,678 shares, compared to its average volume of 864,240. 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 $24.52 and its 200 day moving average price is $26.42. The company has a current ratio of 1.12, a quick ratio of 1.85 and a debt-to-equity ratio of 0.61. The stock has a market cap of $3.63 billion, a P/E ratio of 9.88 and a beta of 1.07.

Rayonier (NYSE:RYN - Get Free Report) last released its 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 28.44% and a return on equity of 3.86%. The company had revenue of $82.90 million during the quarter, compared to analysts' expectations of $152.99 million. During the same quarter in the previous year, the firm earned $0.01 earnings per share. The firm's revenue was down 27.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Rayonier Inc. will post 0.55 EPS for the current fiscal year.

Rayonier Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a yield of 4.67%. The ex-dividend date is Monday, June 16th. Rayonier's dividend payout ratio (DPR) is 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.