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 the company in its most recent 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.

Other hedge funds have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new stake in Rayonier during the third quarter worth about $351,000. GAMMA Investing LLC grew its holdings in shares of Rayonier by 41.8% in the fourth quarter. GAMMA Investing LLC now owns 1,733 shares of the real estate investment trust's stock valued at $45,000 after purchasing an additional 511 shares in the last quarter. Nordea Investment Management AB increased its stake in Rayonier by 6.6% during the 4th quarter. Nordea Investment Management AB now owns 195,369 shares of the real estate investment trust's stock worth $5,087,000 after buying an additional 12,028 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in Rayonier by 36.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 3,186 shares of the real estate investment trust's stock worth $83,000 after buying an additional 857 shares in the last quarter. Finally, Oak Thistle LLC purchased a new position in Rayonier in the 4th quarter valued at approximately $467,000. Institutional investors and hedge funds own 89.12% of the company's stock.

Rayonier Stock Up 2.5 %

Rayonier stock traded up $0.58 during midday trading on Wednesday, reaching $23.50. The company's stock had a trading volume of 919,653 shares, compared to its average volume of 825,016. The company has a market cap of $3.67 billion, a P/E ratio of 9.95 and a beta of 1.07. The company has a quick ratio of 1.85, a current ratio of 1.12 and a debt-to-equity ratio of 0.61. The business has a 50-day simple moving average of $25.98 and a 200-day simple moving average of $27.43. Rayonier Inc. has a fifty-two week low of $22.80 and a fifty-two week high of $31.29.

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 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 business had revenue of $82.90 million during the quarter, compared to analyst estimates of $152.99 million. During the same period last year, the company earned $0.01 earnings per share. The business's revenue for the quarter was down 27.1% compared to the same quarter last year. On average, research analysts expect that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

RYN has been the topic of a number of recent research reports. Raymond James raised 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. Citigroup reduced their price target on Rayonier from $32.00 to $25.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 15th. Truist Financial decreased their price objective on Rayonier from $30.00 to $27.00 and set a "hold" rating for the company in a research note on Tuesday, April 22nd. StockNews.com lowered shares of Rayonier from a "buy" rating to a "sell" rating in a research note on Monday. Finally, Royal Bank of Canada reduced their target price 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. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $27.50.

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.