Massachusetts Financial Services Co. MA Sells 267,365 Shares of Rayonier Inc. (NYSE:RYN)

Massachusetts Financial Services Co. MA trimmed its position in shares of Rayonier Inc. (NYSE:RYN - Free Report) by 3.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,420,189 shares of the real estate investment trust's stock after selling 267,365 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 5.68% of Rayonier worth $281,319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Millburn Ridgefield Corp bought a new stake in Rayonier in the third quarter worth $26,000. Fifth Third Bancorp boosted its holdings in 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 purchasing an additional 880 shares in the last quarter. Signaturefd LLC boosted its holdings in 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 purchasing an additional 1,617 shares in the last quarter. Brighton Jones LLC bought a new stake in Rayonier in the fourth quarter worth $214,000. Finally, Adams Asset Advisors LLC bought a new stake in Rayonier in the fourth quarter worth $234,000. Institutional investors own 89.12% of the company's stock.

Rayonier Price Performance

NYSE:RYN traded up $0.05 during mid-day trading on Tuesday, hitting $30.10. The company's stock had a trading volume of 319,319 shares, compared to its average volume of 585,272. Rayonier Inc. has a fifty-two week low of $24.84 and a fifty-two week high of $35.29. The company has a current ratio of 2.46, a quick ratio of 2.08 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $4.48 billion, a price-to-earnings ratio of 26.99 and a beta of 1.09. The stock has a fifty day moving average of $31.84 and a 200-day moving average of $31.73.

Rayonier (NYSE:RYN - Get Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. Rayonier had a net margin of 15.92% and a return on equity of 3.21%. The firm had revenue of $168.10 million during the quarter, compared to analyst estimates of $190.04 million. During the same quarter in the prior year, the business posted $0.01 earnings per share. The company's quarterly revenue was down 6.1% compared to the same quarter last year. As a group, equities analysts forecast that Rayonier Inc. will post 0.47 EPS for the current fiscal year.

Rayonier Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.285 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.14 annualized dividend and a yield of 3.79%. Rayonier's dividend payout ratio is 101.79%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on RYN shares. TheStreet upgraded shares of Rayonier from a "c+" rating to a "b-" rating in a report on Friday, February 16th. StockNews.com cut shares of Rayonier from a "buy" rating to a "hold" rating in a report on Friday. Finally, Royal Bank of Canada upped their price target on shares of Rayonier from $34.00 to $35.00 and gave the company a "sector perform" rating in a report on Friday, February 2nd. Three equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Rayonier presently has a consensus rating of "Hold" and an average target price 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 December 31, 2023, Rayonier owned or leased under long-term agreements approximately 2.7 million acres of timberlands located in the U.S.