Vanguard Group Inc. Buys 456,363 Shares of Rayonier Inc. (NYSE:RYN)

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

Several other institutional investors have also modified their holdings of RYN. Deutsche Bank AG grew its stake in Rayonier by 730.8% in the 4th quarter. Deutsche Bank AG now owns 1,829,422 shares of the real estate investment trust's stock valued at $47,748,000 after acquiring an additional 1,609,232 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Rayonier in the first quarter valued at approximately $23,582,000. Millennium Management LLC raised its stake in shares of Rayonier by 253.3% during the fourth quarter. Millennium Management LLC now owns 1,094,880 shares of the real estate investment trust's stock valued at $28,576,000 after purchasing an additional 784,955 shares during the period. Victory Capital Management Inc. boosted its holdings in Rayonier by 13.8% in the first quarter. Victory Capital Management Inc. now owns 2,515,298 shares of the real estate investment trust's stock worth $70,127,000 after purchasing an additional 304,803 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Rayonier by 17.9% during the fourth quarter. Northern Trust Corp now owns 1,543,523 shares of the real estate investment trust's stock valued at $40,286,000 after purchasing an additional 234,629 shares in the last quarter. Hedge funds and other institutional investors own 89.12% of the company's stock.

Rayonier Price Performance

Shares of RYN stock traded down $0.19 during trading hours on Friday, hitting $26.36. 908,891 shares of the company's stock were exchanged, compared to its average volume of 1,085,891. The stock's 50-day moving average is $23.72 and its 200-day moving average is $24.80. The stock has a market cap of $4.06 billion, a price-to-earnings ratio of 5.33 and a beta of 1.00. Rayonier Inc. has a 52 week low of $21.84 and a 52 week high of $32.88. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.50 and a quick ratio of 2.60.

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

Rayonier Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Royal Bank Of Canada boosted their price objective on Rayonier from $26.00 to $27.00 and gave the stock a "sector perform" rating in a report on Friday, August 8th. Truist Financial decreased their target price on 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 upgraded Rayonier from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Citigroup cut their target price on Rayonier from $27.00 to $26.00 and set a "neutral" rating for the company in a research note on Tuesday, June 3rd. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus 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.