Marshall Wace LLP Purchases New Shares in Rayonier Inc. (NYSE:RYN)

Marshall Wace LLP purchased a new position in shares of Rayonier Inc. (NYSE:RYN - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 14,414 shares of the real estate investment trust's stock, valued at approximately $376,000.

Several other hedge funds and other institutional investors have also bought and sold shares of RYN. Wilmington Savings Fund Society FSB bought a new position in shares of Rayonier during the third quarter worth approximately $351,000. GAMMA Investing LLC grew its position in Rayonier by 41.8% during the fourth quarter. GAMMA Investing LLC now owns 1,733 shares of the real estate investment trust's stock worth $45,000 after buying 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 acquiring an additional 12,028 shares during the period. Harbor Capital Advisors Inc. raised its holdings in Rayonier by 36.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 3,186 shares of the real estate investment trust's stock valued at $83,000 after acquiring an additional 857 shares in the last quarter. Finally, Oak Thistle LLC bought a new stake in shares of Rayonier during the 4th quarter valued at $467,000. Institutional investors and hedge funds own 89.12% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RYN. StockNews.com upgraded Rayonier from a "hold" rating to a "buy" rating in a research report on Monday, February 24th. Raymond James upgraded shares of Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 target price for the company in a research report on Wednesday, March 12th. Truist Financial cut their price target on shares of Rayonier from $30.00 to $27.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd. Citigroup lowered their price objective on shares of 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 cut their target price on Rayonier from $28.00 to $27.00 and set a "sector perform" rating for the company in a research note on Friday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, Rayonier currently has an average rating of "Hold" and an average target price of $27.50.

Rayonier Trading Up 0.3 %

RYN opened at $23.66 on Friday. The company has a market cap of $3.69 billion, a P/E ratio of 10.03 and a beta of 0.97. The company has a current ratio of 1.12, a quick ratio of 1.85 and a debt-to-equity ratio of 0.61. The company's 50 day moving average is $26.11 and its 200-day moving average is $27.56. 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 posted its earnings results on Wednesday, April 30th. The real estate investment trust reported ($0.02) earnings per share for the quarter, missing analysts' consensus estimates of $0.08 by ($0.10). Rayonier had a return on equity of 3.86% and a net margin of 28.44%. The company had revenue of $82.90 million for the quarter, compared to the consensus estimate of $152.99 million. During the same period in the previous year, the firm posted $0.01 EPS. The business's quarterly revenue was down 27.1% compared to the same quarter last year. Equities research analysts predict that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.

Rayonier Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a $0.2725 dividend. The ex-dividend date was Monday, March 17th. This represents a $1.09 annualized dividend and a yield of 4.61%. Rayonier's dividend payout ratio is presently 46.19%.

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.

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