Waverly Advisors LLC bought a new position in Rayonier Inc. (NYSE:RYN - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 15,548 shares of the real estate investment trust's stock, valued at approximately $406,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RYN. Oppenheimer & Co. Inc. bought a new stake in Rayonier in the fourth quarter worth $327,000. HighTower Advisors LLC lifted its stake in Rayonier by 3.4% in the fourth quarter. HighTower Advisors LLC now owns 66,571 shares of the real estate investment trust's stock worth $1,738,000 after purchasing an additional 2,168 shares during the last quarter. Marshall Wace LLP bought a new stake in Rayonier in the fourth quarter worth $376,000. Charles Schwab Investment Management Inc. lifted its stake in Rayonier by 1.9% in the fourth 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 purchasing an additional 46,956 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Rayonier by 9.4% in the fourth quarter. Invesco Ltd. now owns 370,474 shares of the real estate investment trust's stock worth $9,669,000 after purchasing an additional 31,916 shares during the last quarter. 89.12% of the stock is currently owned by hedge funds and other institutional investors.
Rayonier Stock Up 0.5%
Shares of NYSE:RYN traded up $0.12 during trading on Friday, reaching $23.90. 245,779 shares of the stock traded hands, compared to its average volume of 860,328. The stock has a 50-day moving average of $24.68 and a two-hundred day moving average of $26.55. Rayonier Inc. has a 52-week low of $22.80 and a 52-week high of $31.29. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.85 and a current ratio of 1.12. The stock has a market cap of $3.72 billion, a P/E ratio of 10.13 and a beta of 1.07.
Rayonier (NYSE:RYN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported ($0.02) EPS 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 firm had revenue of $82.90 million for the quarter, compared to analysts' expectations of $152.99 million. During the same quarter in the previous year, the company earned $0.01 EPS. The company's quarterly revenue was down 27.1% compared to the same quarter last year. As a group, sell-side analysts expect that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.
Rayonier Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.56%. The ex-dividend date of this dividend is Monday, June 16th. Rayonier's payout ratio is 46.78%.
Analyst Ratings Changes
Several brokerages have recently commented on RYN. Truist Financial lowered their price objective on shares of 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 cut their price objective 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. Wall Street Zen upgraded shares of Rayonier from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Finally, Raymond James upgraded shares of Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 price objective on the stock in a report on Wednesday, March 12th. Four equities research 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, Rayonier presently has a consensus rating of "Hold" and an average target price of $27.50.
View Our Latest Stock Report on RYN
Rayonier Company Profile
(
Free Report)
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.
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