Invesco Ltd. Buys 31,916 Shares of Rayonier Inc. (NYSE:RYN)

Invesco Ltd. grew its holdings in Rayonier Inc. (NYSE:RYN - Free Report) by 9.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 370,474 shares of the real estate investment trust's stock after purchasing an additional 31,916 shares during the quarter. Invesco Ltd. owned about 0.25% of Rayonier worth $9,669,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Pacer Advisors Inc. boosted its stake in Rayonier by 2.3% in the 4th quarter. Pacer Advisors Inc. now owns 19,993 shares of the real estate investment trust's stock valued at $522,000 after buying an additional 442 shares in the last quarter. GAMMA Investing LLC boosted its stake in Rayonier by 41.8% in the 4th quarter. GAMMA Investing LLC now owns 1,733 shares of the real estate investment trust's stock valued at $45,000 after buying an additional 511 shares in the last quarter. UMB Bank n.a. boosted its stake in Rayonier by 59.7% in the 4th quarter. UMB Bank n.a. now owns 1,404 shares of the real estate investment trust's stock valued at $37,000 after buying an additional 525 shares in the last quarter. Harbor Capital Advisors Inc. boosted its stake in Rayonier by 36.8% in the fourth quarter. Harbor Capital Advisors Inc. now owns 3,186 shares of the real estate investment trust's stock worth $83,000 after purchasing an additional 857 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in Rayonier in the fourth quarter worth $25,000. Institutional investors own 89.12% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on RYN shares. StockNews.com raised Rayonier from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. Truist Financial reduced their price objective on Rayonier from $30.00 to $27.00 and set a "hold" rating on the stock in a research note on Tuesday, April 22nd. 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 note on Wednesday, March 12th. Citigroup dropped their target price on Rayonier from $32.00 to $25.00 and set a "neutral" rating for the company in a research report on Wednesday, January 15th. Finally, Royal Bank of Canada dropped their target price on Rayonier from $33.00 to $30.00 and set a "sector perform" rating for the company in a research report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $28.25.

Rayonier Stock Down 1.3 %

RYN stock traded down $0.33 during mid-day trading on Tuesday, hitting $24.30. 58,665 shares of the company were exchanged, compared to its average volume of 793,706. 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 firm has a market cap of $3.79 billion, a P/E ratio of 10.30 and a beta of 0.97. The firm's 50 day simple moving average is $26.27 and its 200 day simple moving average is $27.75. Rayonier Inc. has a 1-year low of $22.80 and a 1-year high of $31.29.

Rayonier (NYSE:RYN - Get Free Report) last announced its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.27 EPS for the quarter, topping the consensus estimate of $0.19 by $0.08. Rayonier had a net margin of 28.44% and a return on equity of 3.86%. On average, sell-side analysts predict that Rayonier Inc. will post 0.55 EPS for the current fiscal year.

Rayonier Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a $0.2725 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.49%. Rayonier's payout ratio is presently 46.19%.

Rayonier Company 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.