First Trust Advisors LP Decreases Stake in Rayonier Inc. (NYSE:RYN)

First Trust Advisors LP decreased its holdings in Rayonier Inc. (NYSE:RYN - Free Report) by 32.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 about 0.05% of Rayonier worth $2,046,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of RYN. CANADA LIFE ASSURANCE Co increased its holdings in Rayonier by 2.5% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 92,726 shares of the real estate investment trust's stock worth $2,419,000 after purchasing an additional 2,286 shares during the period. Marshall Wace LLP bought a new stake in shares of Rayonier in the fourth quarter valued at about $376,000. Jump Financial LLC purchased a new stake in Rayonier in the fourth quarter worth about $210,000. Ontario Teachers Pension Plan Board bought a new position in Rayonier during the 4th quarter worth about $286,000. Finally, XTX Topco Ltd lifted its position in shares of Rayonier by 92.8% in the 4th quarter. XTX Topco Ltd now owns 18,632 shares of the real estate investment trust's stock worth $486,000 after purchasing an additional 8,970 shares during the period. Hedge funds and other institutional investors own 89.12% of the company's stock.

Rayonier Price Performance

Rayonier stock traded up $0.15 during trading on Friday, reaching $23.52. The company had a trading volume of 919,234 shares, compared to its average volume of 832,316. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.85 and a current ratio of 1.12. The firm's 50-day simple moving average is $25.84 and its 200 day simple moving average is $27.34. The firm has a market capitalization of $3.67 billion, a PE ratio of 9.97 and a beta of 1.07. Rayonier Inc. has a 1-year low of $22.80 and a 1-year high of $31.29.

Rayonier (NYSE:RYN - Get Free Report) last released 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). The company had revenue of $82.90 million for the quarter, compared to analysts' expectations of $152.99 million. Rayonier had a return on equity of 3.86% and a net margin of 28.44%. The firm's revenue for the quarter was down 27.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.01 EPS. As a group, equities research analysts anticipate that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on RYN shares. Citigroup cut their target price on 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 dropped their price objective on shares of Rayonier from $28.00 to $27.00 and set a "sector perform" rating on the stock in a report on Friday, May 2nd. StockNews.com lowered shares of Rayonier from a "buy" rating to a "sell" rating in a research report on Monday. Truist Financial cut 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. Finally, 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 report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price 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.