Hsbc Holdings PLC Takes Position in Rayonier Inc. (NYSE:RYN)

Hsbc Holdings PLC acquired a new stake in Rayonier Inc. (NYSE:RYN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 45,879 shares of the real estate investment trust's stock, valued at approximately $1,189,000.

Several other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in Rayonier during the fourth quarter worth about $343,007,000. Franklin Resources Inc. acquired a new position in Rayonier during the fourth quarter worth $30,935,000. ExodusPoint Capital Management LP purchased a new stake in shares of Rayonier during the 4th quarter worth $4,726,000. Legal & General Group Plc increased its holdings in shares of Rayonier by 5.8% in the 4th quarter. Legal & General Group Plc now owns 3,107,331 shares of the real estate investment trust's stock valued at $81,101,000 after purchasing an additional 170,087 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Rayonier during the fourth quarter worth about $4,281,000. 89.12% of the stock is owned by institutional investors and hedge funds.

Rayonier Trading Down 0.3 %

NYSE:RYN traded down $0.06 during trading hours on Thursday, reaching $23.41. 150,447 shares of the company were exchanged, compared to its average volume of 826,181. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of 9.92 and a beta of 1.07. The stock has a 50 day simple moving average of $25.92 and a 200 day simple moving average of $27.40. 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 current ratio of 1.12 and a quick ratio of 1.85.

Rayonier (NYSE:RYN - Get Free Report) last issued its earnings results 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 return on equity of 3.86% and a net margin of 28.44%. The firm had revenue of $82.90 million during the quarter, compared to analysts' expectations of $152.99 million. During the same period last year, the business posted $0.01 earnings per share. The company's quarterly revenue was down 27.1% compared to the same quarter last year. As a group, analysts predict that Rayonier Inc. will post 0.55 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RYN. StockNews.com lowered Rayonier from a "buy" rating to a "sell" rating in a research note on Monday. Citigroup dropped their target price on shares of Rayonier from $32.00 to $25.00 and set a "neutral" rating for the company in a report on Wednesday, January 15th. Truist Financial reduced 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 cut their price objective on Rayonier from $28.00 to $27.00 and set a "sector perform" rating for the company in a research report on Friday, May 2nd. Finally, Raymond James raised Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 price target for the company in a report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $27.50.

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.