Rayonier Inc. (NYSE:RYN) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lowered its position in Rayonier Inc. (NYSE:RYN - Free Report) by 2.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,655,015 shares of the real estate investment trust's stock after selling 395,962 shares during the quarter. Price T Rowe Associates Inc. MD owned 11.85% of Rayonier worth $460,797,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Harvest Fund Management Co. Ltd purchased a new position in Rayonier during the fourth quarter worth $25,000. UMB Bank n.a. raised its stake in Rayonier by 59.7% in the 4th quarter. UMB Bank n.a. now owns 1,404 shares of the real estate investment trust's stock valued at $37,000 after purchasing an additional 525 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in Rayonier by 264.6% in 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 purchasing an additional 1,217 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Rayonier by 41.8% during the fourth quarter. GAMMA Investing LLC now owns 1,733 shares of the real estate investment trust's stock worth $45,000 after buying an additional 511 shares in the last quarter. Finally, Covestor Ltd raised its position in shares of Rayonier by 30.0% in the fourth quarter. Covestor Ltd now owns 2,317 shares of the real estate investment trust's stock valued at $60,000 after buying an additional 535 shares during the last quarter. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

Rayonier Stock Down 0.1 %

Shares of NYSE:RYN traded down $0.02 during midday trading on Wednesday, hitting $24.50. 176,529 shares of the company's stock traded hands, compared to its average volume of 797,083. The firm's fifty day moving average price is $26.24 and its two-hundred day moving average price is $27.73. 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 Inc. has a twelve month low of $22.80 and a twelve month high of $31.29. The company has a market cap of $3.82 billion, a PE ratio of 10.36 and a beta of 0.97.

Rayonier (NYSE:RYN - Get Free Report) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.08. Rayonier had a return on equity of 3.86% and a net margin of 28.44%. On average, equities research analysts anticipate that Rayonier Inc. will post 0.55 EPS for the current fiscal year.

Rayonier Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a yield of 4.45%. The ex-dividend date was Monday, March 17th. Rayonier's dividend payout ratio (DPR) is 46.19%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RYN. Citigroup cut their price target on Rayonier from $32.00 to $25.00 and set a "neutral" rating for the company in a report on Wednesday, January 15th. 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 research note on Tuesday, April 22nd. Raymond James raised shares of Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 price target for the company in a research report on Wednesday, March 12th. StockNews.com raised shares of Rayonier from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. Finally, Royal Bank of Canada cut their target price on Rayonier from $33.00 to $30.00 and set a "sector perform" rating on the stock in a research report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Rayonier currently has a consensus rating of "Hold" and a consensus target price of $28.25.

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.