Rayonier Inc. (NYSE:RYN) Shares Sold by First Trust Advisors LP

First Trust Advisors LP decreased its holdings in Rayonier Inc. (NYSE:RYN - Free Report) by 32.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 78,384 shares of the real estate investment trust's stock after selling 37,754 shares during the period. First Trust Advisors LP owned approximately 0.05% of Rayonier worth $2,046,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Rayonier in the 4th quarter valued at approximately $343,007,000. Massachusetts Financial Services Co. MA grew its stake in shares of Rayonier by 0.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,372,817 shares of the real estate investment trust's stock valued at $88,031,000 after buying an additional 20,126 shares during the period. Legal & General Group Plc grew its stake in shares of Rayonier by 5.8% in the 4th quarter. Legal & General Group Plc now owns 3,107,331 shares of the real estate investment trust's stock valued at $81,101,000 after buying an additional 170,087 shares during the period. Geode Capital Management LLC grew its stake in shares of Rayonier by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 2,632,193 shares of the real estate investment trust's stock valued at $68,719,000 after buying an additional 39,332 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Rayonier by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,488,802 shares of the real estate investment trust's stock valued at $64,958,000 after buying an additional 46,956 shares during the period. Institutional investors and hedge funds own 89.12% of the company's stock.

Rayonier Stock Performance

RYN traded up $0.15 on Friday, reaching $23.52. The company had a trading volume of 919,234 shares, compared to its average volume of 836,287. Rayonier Inc. has a 1 year low of $22.80 and a 1 year high of $31.29. The stock has a market capitalization of $3.66 billion, a PE ratio of 9.97 and a beta of 1.07. 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 stock has a 50-day moving average price of $25.77 and a 200-day moving average price of $27.23.

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Truist Financial dropped their price target 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. Royal Bank of Canada dropped their price target on shares of Rayonier from $28.00 to $27.00 and set a "sector perform" rating for the company in a research note on Friday, May 2nd. StockNews.com cut shares of Rayonier from a "buy" rating to a "sell" rating in a research note on Monday, May 5th. Citigroup dropped their price target on shares of Rayonier from $32.00 to $25.00 and set a "neutral" rating for the company in a research note on Wednesday, January 15th. Finally, Raymond James raised shares of Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 price objective for the company in a research report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, Rayonier currently has a consensus rating of "Hold" and a consensus price target of $27.50.

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.