Rayonier Inc. (NYSE:RYN) Stake Cut by Impax Asset Management Group plc

Impax Asset Management Group plc reduced its holdings in Rayonier Inc. (NYSE:RYN - Free Report) by 6.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,563,109 shares of the real estate investment trust's stock after selling 441,569 shares during the period. Impax Asset Management Group plc owned about 4.43% of Rayonier worth $218,358,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Millburn Ridgefield Corp acquired a new position in Rayonier in the 3rd quarter worth about $26,000. Neo Ivy Capital Management acquired a new position in shares of Rayonier during the 2nd quarter valued at about $51,000. Fifth Third Bancorp increased its holdings in shares of Rayonier by 84.7% during the 3rd quarter. Fifth Third Bancorp now owns 1,919 shares of the real estate investment trust's stock valued at $55,000 after acquiring an additional 880 shares during the last quarter. Point72 Middle East FZE acquired a new position in shares of Rayonier during the 4th quarter valued at about $82,000. Finally, Captrust Financial Advisors acquired a new position in shares of Rayonier during the 2nd quarter valued at about $105,000. 89.12% of the stock is owned by hedge funds and other institutional investors.

Rayonier Trading Up 1.3 %

Shares of Rayonier stock traded up $0.42 during trading on Tuesday, reaching $32.50. 232,424 shares of the company were exchanged, compared to its average volume of 655,135. The company has a quick ratio of 2.04, a current ratio of 2.26 and a debt-to-equity ratio of 0.73. Rayonier Inc. has a twelve month low of $24.84 and a twelve month high of $35.29. The business has a 50-day moving average price of $33.23 and a 200-day moving average price of $31.15. The firm has a market capitalization of $4.83 billion, a price-to-earnings ratio of 27.42 and a beta of 1.07.

Rayonier (NYSE:RYN - Get Free Report) last issued its quarterly earnings data on Wednesday, January 31st. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.17. The company had revenue of $467.40 million during the quarter, compared to the consensus estimate of $235.94 million. Rayonier had a net margin of 16.41% and a return on equity of 2.89%. During the same quarter in the prior year, the firm earned $0.11 earnings per share. Sell-side analysts anticipate that Rayonier Inc. will post 0.48 EPS for the current fiscal year.

Rayonier Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $0.285 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.51%. Rayonier's payout ratio is presently 97.44%.

Analyst Ratings Changes

A number of research firms have issued reports on RYN. TheStreet raised Rayonier from a "c+" rating to a "b-" rating in a report on Friday, February 16th. Truist Financial raised their price objective on Rayonier from $33.00 to $34.00 and gave the stock a "hold" rating in a research report on Thursday, January 4th. Royal Bank of Canada raised their price objective on Rayonier from $34.00 to $35.00 and gave the stock a "sector perform" rating in a research report on Friday, February 2nd. Finally, StockNews.com upgraded Rayonier from a "sell" rating to a "hold" rating in a research report on Monday, February 26th. Three research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $34.50.

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 September 30, 2023, Rayonier owned or leased under long-term agreements approximately 2.8 million acres of timberlands located in the U.S.

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