Waverly Advisors LLC Acquires Shares of 15,548 Rayonier Inc. (NYSE:RYN)

Waverly Advisors LLC bought a new stake in Rayonier Inc. (NYSE:RYN - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,548 shares of the real estate investment trust's stock, valued at approximately $406,000.

Several other institutional investors have also added to or reduced their stakes in RYN. Norges Bank bought a new stake in shares of Rayonier in the 4th quarter valued at $343,007,000. Massachusetts Financial Services Co. MA grew its stake in Rayonier by 0.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,372,817 shares of the real estate investment trust's stock worth $88,031,000 after purchasing an additional 20,126 shares during the period. Legal & General Group Plc increased its holdings in Rayonier by 5.8% in the fourth quarter. Legal & General Group Plc now owns 3,107,331 shares of the real estate investment trust's stock worth $81,101,000 after purchasing an additional 170,087 shares in the last quarter. Geode Capital Management LLC lifted its stake in Rayonier by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 2,632,193 shares of the real estate investment trust's stock valued at $68,719,000 after buying an additional 39,332 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Rayonier by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,488,802 shares of the real estate investment trust's stock worth $64,958,000 after buying an additional 46,956 shares in the last quarter. 89.12% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on RYN. Wall Street Zen raised shares of Rayonier from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Truist Financial reduced their target price on Rayonier from $30.00 to $27.00 and set a "hold" rating for the company in a research note on Tuesday, April 22nd. 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 note on Friday, May 2nd. Finally, Raymond James upgraded Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 price objective for the company in a report on Wednesday, March 12th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $27.50.

Rayonier Stock Down 0.9%

RYN traded down $0.21 during midday trading on Wednesday, reaching $23.38. 1,224,473 shares of the company were exchanged, compared to its average volume of 858,873. The company has a market cap of $3.64 billion, a price-to-earnings ratio of 9.91 and a beta of 1.07. Rayonier Inc. has a one year low of $22.80 and a one year high of $31.29. The company's fifty day moving average price is $24.85 and its 200 day moving average price is $26.62. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.85 and a current ratio of 1.12.

Rayonier (NYSE:RYN - Get Free Report) last announced 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). Rayonier had a return on equity of 3.86% and a net margin of 28.44%. The company had revenue of $82.90 million for the quarter, compared to the consensus estimate of $152.99 million. During the same quarter last year, the company posted $0.01 EPS. The company's quarterly revenue was down 27.1% compared to the same quarter last year. As a group, analysts expect that Rayonier Inc. will post 0.55 EPS for the current year.

Rayonier Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date is Monday, June 16th. Rayonier's payout ratio is currently 46.78%.

About Rayonier

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.