Legal & General Group Plc increased its stake in shares of Rayonier Inc. (NYSE:RYN - Free Report) by 5.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,107,331 shares of the real estate investment trust's stock after acquiring an additional 170,087 shares during the quarter. Legal & General Group Plc owned approximately 2.09% of Rayonier worth $81,101,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Stifel Financial Corp raised its holdings in shares of Rayonier by 209.6% in the third quarter. Stifel Financial Corp now owns 57,289 shares of the real estate investment trust's stock valued at $1,843,000 after purchasing an additional 38,783 shares during the last quarter. Oak Thistle LLC bought a new stake in shares of Rayonier in the fourth quarter valued at approximately $467,000. Oppenheimer & Co. Inc. bought a new position in shares of Rayonier in the fourth quarter worth $327,000. HighTower Advisors LLC boosted its position in shares of Rayonier by 3.4% in the fourth quarter. HighTower Advisors LLC now owns 66,571 shares of the real estate investment trust's stock valued at $1,738,000 after acquiring an additional 2,168 shares during the period. Finally, State Street Corp grew its position in shares of Rayonier by 2.5% during the 3rd quarter. State Street Corp now owns 4,279,512 shares of the real estate investment trust's stock valued at $137,715,000 after purchasing an additional 104,464 shares in the last quarter. 89.12% of the stock is owned by institutional investors and hedge funds.
Rayonier Trading Up 1.7 %
Shares of NYSE:RYN traded up $0.42 on Thursday, hitting $25.48. 144,921 shares of the company's stock were exchanged, compared to its average volume of 781,124. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.12 and a quick ratio of 1.85. The stock has a market capitalization of $3.98 billion, a price-to-earnings ratio of 10.79 and a beta of 0.97. The business's 50 day simple moving average is $26.38 and its two-hundred day simple moving average is $28.18. Rayonier Inc. has a 12 month low of $22.80 and a 12 month high of $31.29.
Rayonier (NYSE:RYN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.27 earnings per share 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%. Analysts anticipate that Rayonier Inc. will post 0.55 EPS for the current fiscal year.
Rayonier Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a $0.2725 dividend. The ex-dividend date was Monday, March 17th. This represents a $1.09 annualized dividend and a yield of 4.28%. Rayonier's dividend payout ratio is presently 46.19%.
Wall Street Analyst Weigh In
Several analysts have issued reports on RYN shares. Royal Bank of Canada cut their target price on Rayonier from $33.00 to $30.00 and set a "sector perform" rating for the company in a research note on Friday, February 7th. StockNews.com upgraded Rayonier from a "hold" rating to a "buy" rating in a report on Monday, February 24th. Raymond James raised shares of 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. Truist Financial dropped their price target on shares of Rayonier from $32.00 to $30.00 and set a "hold" rating on the stock in a research note on Monday, January 6th. Finally, Citigroup lowered their price target on Rayonier from $32.00 to $25.00 and set a "neutral" rating on the stock in a report on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $29.00.
Read Our Latest Report on RYN
Rayonier Company Profile
(
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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