Northern Trust Corp Increases Stock Position in Rayonier Inc. (NYSE:RYN)

Northern Trust Corp raised its stake in shares of Rayonier Inc. (NYSE:RYN - Free Report) by 17.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,543,523 shares of the real estate investment trust's stock after acquiring an additional 234,629 shares during the period. Northern Trust Corp owned approximately 1.04% of Rayonier worth $40,286,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in RYN. Harvest Fund Management Co. Ltd purchased a new stake in Rayonier in the fourth quarter valued at approximately $25,000. UMB Bank n.a. lifted its stake in Rayonier by 59.7% during the 4th quarter. UMB Bank n.a. now owns 1,404 shares of the real estate investment trust's stock worth $37,000 after acquiring an additional 525 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in Rayonier by 264.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,677 shares of the real estate investment trust's stock valued at $44,000 after acquiring an additional 1,217 shares during the period. GAMMA Investing LLC grew its position 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 acquiring an additional 511 shares in the last quarter. Finally, Covestor Ltd increased its stake in Rayonier by 30.0% during the fourth quarter. Covestor Ltd now owns 2,317 shares of the real estate investment trust's stock worth $60,000 after purchasing an additional 535 shares during the period. 89.12% of the stock is currently owned by institutional investors and hedge funds.

Rayonier Trading Up 0.6 %

RYN opened at $23.52 on Friday. The business's 50-day simple moving average is $25.77 and its 200-day simple moving average is $27.29. The company has a market cap of $3.67 billion, a P/E ratio of 9.97 and a beta of 1.07. Rayonier Inc. has a one year low of $22.80 and a one year high of $31.29. 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 (NYSE:RYN - Get Free Report) last released its quarterly earnings data 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 analyst estimates of $152.99 million. During the same period in the previous year, the business posted $0.01 EPS. The firm's revenue for the quarter was down 27.1% compared to the same quarter last year. As a group, equities research analysts expect that Rayonier Inc. will post 0.55 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Truist Financial dropped their price objective 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. 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. StockNews.com lowered Rayonier from a "buy" rating to a "sell" rating in a report on Monday, May 5th. Royal Bank of Canada cut their price target on Rayonier from $28.00 to $27.00 and set a "sector perform" rating on the stock in a report on Friday, May 2nd. Finally, Citigroup lowered their price objective on Rayonier from $32.00 to $25.00 and set a "neutral" rating for the company in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price 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.

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