Russell Investments Group Ltd. lifted its holdings in Rayonier Inc. (NYSE:RYN - Free Report) by 1,201.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 259,199 shares of the real estate investment trust's stock after purchasing an additional 239,278 shares during the period. Russell Investments Group Ltd. owned about 0.17% of Rayonier worth $8,660,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Millburn Ridgefield Corp acquired a new position in shares of Rayonier in the 3rd quarter worth approximately $26,000. Fifth Third Bancorp increased its position in shares of Rayonier by 84.7% in the third quarter. Fifth Third Bancorp now owns 1,919 shares of the real estate investment trust's stock worth $55,000 after acquiring an additional 880 shares in the last quarter. Signaturefd LLC increased its position in shares of Rayonier by 371.7% in the fourth quarter. Signaturefd LLC now owns 2,052 shares of the real estate investment trust's stock worth $69,000 after acquiring an additional 1,617 shares in the last quarter. Adams Asset Advisors LLC purchased a new position in shares of Rayonier in the fourth quarter worth approximately $234,000. Finally, Laurion Capital Management LP purchased a new position in shares of Rayonier in the third quarter worth approximately $220,000. Institutional investors and hedge funds own 89.12% of the company's stock.
Rayonier Stock Down 1.0 %
RYN traded down $0.29 on Tuesday, reaching $29.67. 545,573 shares of the company traded hands, compared to its average volume of 598,405. The stock's 50 day moving average price is $32.29 and its 200-day moving average price is $31.57. Rayonier Inc. has a 52-week low of $24.84 and a 52-week high of $35.29. The company has a market cap of $4.41 billion, a price-to-earnings ratio of 26.74 and a beta of 1.09. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.46 and a quick ratio of 2.04.
Rayonier (NYSE:RYN - Get Free Report) last posted its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.04 by $0.01. The firm had revenue of $168.10 million during the quarter, compared to analysts' expectations of $190.04 million. Rayonier had a net margin of 15.92% and a return on equity of 3.21%. The company's revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.01 earnings per share. On average, sell-side analysts expect that Rayonier Inc. will post 0.48 EPS for the current fiscal year.
Rayonier Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date was Wednesday, March 13th. Rayonier's dividend payout ratio (DPR) is presently 101.79%.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on RYN shares. TheStreet raised shares of Rayonier from a "c+" rating to a "b-" rating in a research report on Friday, February 16th. Royal Bank of Canada lifted 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. Finally, StockNews.com raised shares of Rayonier from a "hold" rating to a "buy" rating in a research report on Thursday, May 2nd. Two research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $34.50.
Get Our Latest Report on Rayonier
Rayonier Profile
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Free Report)
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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