Vanguard Group Inc. Buys 456,363 Shares of Rayonier Inc. $RYN

Vanguard Group Inc. lifted its position in shares of Rayonier Inc. (NYSE:RYN - Free Report) by 2.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,862,953 shares of the real estate investment trust's stock after buying an additional 456,363 shares during the period. Vanguard Group Inc. owned about 13.37% of Rayonier worth $581,659,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. American National Bank & Trust acquired a new stake in Rayonier during the 1st quarter valued at $28,000. Parallel Advisors LLC lifted its position in shares of Rayonier by 133.5% during the 1st 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 during the period. Byrne Asset Management LLC bought a new stake in Rayonier during the first quarter worth about $38,000. GAMMA Investing LLC lifted its position in Rayonier by 54.6% during the first quarter. GAMMA Investing LLC now owns 2,680 shares of the real estate investment trust's stock worth $75,000 after purchasing an additional 947 shares during the period. Finally, Fifth Third Bancorp lifted its position in Rayonier by 182.4% during the first quarter. Fifth Third Bancorp now owns 2,753 shares of the real estate investment trust's stock worth $77,000 after purchasing an additional 1,778 shares during the period. Institutional investors and hedge funds own 89.12% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RYN. Citigroup dropped their price objective on shares of Rayonier from $27.00 to $26.00 and set a "neutral" rating for the company in a research note on Tuesday, June 3rd. Truist Financial lowered their target price on Rayonier from $30.00 to $27.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd. Wall Street Zen raised Rayonier from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Royal Bank Of Canada boosted their target price on Rayonier from $26.00 to $27.00 and gave the company a "sector perform" rating in a research report on Friday, August 8th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, Rayonier currently has a consensus rating of "Hold" and an average price target of $27.75.

Rayonier Stock Down 0.0%

RYN traded down $0.01 during midday trading on Monday, reaching $26.31. 174,750 shares of the company were exchanged, compared to its average volume of 1,109,629. Rayonier Inc. has a one year low of $21.84 and a one year high of $32.88. The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.38 and a current ratio of 3.50. The company has a market cap of $4.06 billion, a price-to-earnings ratio of 5.32 and a beta of 1.00. The company's fifty day moving average price is $23.72 and its 200 day moving average price is $24.79.

Rayonier (NYSE:RYN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.03. The business had revenue of $106.50 million during the quarter, compared to analyst estimates of $95.30 million. Rayonier had a return on equity of 3.39% and a net margin of 68.53%. Rayonier's revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.02 earnings per share. As a group, analysts expect that Rayonier Inc. will post 0.55 EPS for the current year.

Rayonier Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Tuesday, September 16th. Rayonier's dividend payout ratio is 22.02%.

Rayonier 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.