Westwood Holdings Group Inc. Makes New Investment in Rayonier Inc. (NYSE:RYN)

Westwood Holdings Group Inc. purchased a new stake in Rayonier Inc. (NYSE:RYN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 140,000 shares of the real estate investment trust's stock, valued at approximately $3,654,000. Westwood Holdings Group Inc. owned 0.09% of Rayonier as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in shares of Rayonier during the fourth quarter valued at about $343,007,000. Deutsche Bank AG increased its stake in Rayonier by 730.8% during the fourth 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 period. Franklin Resources Inc. bought a new position in Rayonier during the fourth quarter valued at about $30,935,000. Millennium Management LLC raised its holdings in Rayonier by 253.3% in the 4th quarter. Millennium Management LLC now owns 1,094,880 shares of the real estate investment trust's stock valued at $28,576,000 after acquiring an additional 784,955 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Rayonier by 17.9% in the 4th quarter. Northern Trust Corp now owns 1,543,523 shares of the real estate investment trust's stock worth $40,286,000 after acquiring an additional 234,629 shares during the period. 89.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RYN. Raymond James upgraded Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 price objective on the stock in a research report on Wednesday, March 12th. Truist Financial lowered their price target 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 reduced their price objective on shares of Rayonier from $28.00 to $27.00 and set a "sector perform" rating for the company in a report on Friday, May 2nd. Finally, Wall Street Zen raised shares of Rayonier from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $27.50.

Rayonier Trading Down 0.1%

Rayonier stock traded down $0.03 during trading hours on Monday, reaching $23.31. 569,491 shares of the company's stock traded hands, compared to its average volume of 853,883. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of 9.88 and a beta of 1.07. 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 Inc. has a fifty-two week low of $22.80 and a fifty-two week high of $31.29. The firm's 50 day moving average is $25.04 and its 200-day moving average is $26.70.

Rayonier (NYSE:RYN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.10). Rayonier had a net margin of 28.44% and a return on equity of 3.86%. The business had revenue of $82.90 million during the quarter, compared to analyst estimates of $152.99 million. During the same quarter in the prior year, the company earned $0.01 earnings per share. The company's quarterly revenue was down 27.1% on a year-over-year basis. On average, analysts predict that Rayonier Inc. will post 0.55 earnings per share for the current year.

Rayonier Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a dividend yield of 4.68%. The ex-dividend date is Monday, June 16th. Rayonier's dividend payout ratio is 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.