Raymond James Financial Inc. Invests $1.46 Million in Rayonier Inc. (NYSE:RYN)

Raymond James Financial Inc. purchased a new position in shares of Rayonier Inc. (NYSE:RYN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 55,766 shares of the real estate investment trust's stock, valued at approximately $1,455,000.

Other hedge funds also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd bought a new stake in Rayonier in the 4th quarter valued at $25,000. UMB Bank n.a. boosted its holdings in shares of Rayonier by 59.7% during the fourth quarter. UMB Bank n.a. now owns 1,404 shares of the real estate investment trust's stock worth $37,000 after acquiring an additional 525 shares during the period. Steward Partners Investment Advisory LLC grew its position in shares of Rayonier by 264.6% in the fourth 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 during the last quarter. GAMMA Investing LLC increased its stake 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 purchasing an additional 511 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its holdings in Rayonier by 36.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 3,186 shares of the real estate investment trust's stock worth $83,000 after purchasing an additional 857 shares during the last quarter. 89.12% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on RYN. Citigroup decreased their price target on shares of Rayonier from $32.00 to $25.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 15th. Royal Bank of Canada cut their price target on Rayonier from $28.00 to $27.00 and set a "sector perform" rating for the company in a research note on Friday, May 2nd. Raymond James upgraded Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 price objective on the stock in a research note on Wednesday, March 12th. StockNews.com downgraded Rayonier from a "buy" rating to a "sell" rating in a research report on Monday. Finally, Truist Financial decreased their price target on Rayonier from $30.00 to $27.00 and set a "hold" rating on the stock in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $27.50.

Rayonier Trading Up 0.0 %

Rayonier stock traded up $0.01 during mid-day trading on Thursday, hitting $23.48. 105,292 shares of the stock were exchanged, compared to its average volume of 1,131,043. Rayonier Inc. has a 12 month low of $22.80 and a 12 month high of $32.88. The company has a quick ratio of 1.85, a current ratio of 1.12 and a debt-to-equity ratio of 0.61. The firm's fifty day simple moving average is $25.92 and its two-hundred day simple moving average is $27.40. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of 9.95 and a beta of 1.07.

Rayonier (NYSE:RYN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.10). The company had revenue of $82.90 million for the quarter, compared to analyst estimates of $152.99 million. Rayonier had a net margin of 28.44% and a return on equity of 3.86%. Rayonier's revenue for the quarter was down 27.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.01 EPS. Analysts forecast that Rayonier Inc. will post 0.55 EPS for the current year.

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.