Duff & Phelps Investment Management Co. Invests $1.47 Million in Rayonier Inc. (NYSE:RYN)

Duff & Phelps Investment Management Co. bought a new stake in shares of Rayonier Inc. (NYSE:RYN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 44,000 shares of the real estate investment trust's stock, valued at approximately $1,470,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of RYN. Victory Capital Management Inc. increased its holdings in shares of Rayonier by 2.7% in the third quarter. Victory Capital Management Inc. now owns 3,965,573 shares of the real estate investment trust's stock worth $112,860,000 after purchasing an additional 105,884 shares during the period. Swiss National Bank increased its holdings in shares of Rayonier by 1.5% in the third quarter. Swiss National Bank now owns 309,500 shares of the real estate investment trust's stock worth $8,808,000 after purchasing an additional 4,500 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Rayonier by 1,201.1% in the fourth quarter. Russell Investments Group Ltd. now owns 259,199 shares of the real estate investment trust's stock worth $8,660,000 after purchasing an additional 239,278 shares during the period. J.P. Morgan Private Wealth Advisors LLC increased its holdings in shares of Rayonier by 66.2% in the third quarter. J.P. Morgan Private Wealth Advisors LLC now owns 228,879 shares of the real estate investment trust's stock worth $6,514,000 after purchasing an additional 91,141 shares during the period. Finally, Retirement Systems of Alabama increased its holdings in shares of Rayonier by 0.3% in the fourth quarter. Retirement Systems of Alabama now owns 170,870 shares of the real estate investment trust's stock worth $5,709,000 after purchasing an additional 550 shares during the period. Institutional investors own 89.12% of the company's stock.

Analyst Upgrades and Downgrades

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

Rayonier Trading Up 0.5 %

NYSE RYN traded up $0.16 during trading on Wednesday, hitting $29.82. 452,843 shares of the company's stock traded hands, compared to its average volume of 599,871. The stock has a fifty day moving average of $32.58 and a two-hundred day moving average of $31.48. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.26 and a quick ratio of 2.04. Rayonier Inc. has a 12-month low of $24.84 and a 12-month high of $35.29. The firm has a market cap of $4.43 billion, a P/E ratio of 25.45 and a beta of 1.07.

Rayonier (NYSE:RYN - Get Free Report) last posted its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. The business had revenue of $467.40 million during the quarter, compared to analyst estimates of $235.94 million. Rayonier had a net margin of 16.41% and a return on equity of 2.89%. During the same period in the prior year, the business posted $0.11 earnings per share. As a group, sell-side analysts expect that Rayonier Inc. will post 0.48 EPS for the current year.

Rayonier Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 3.82%. The ex-dividend date of this dividend was Wednesday, March 13th. Rayonier's dividend payout ratio (DPR) is 97.44%.

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.