Ancora Advisors LLC Purchases 4,760 Shares of Rayonier Inc. (NYSE:RYN)

Ancora Advisors LLC lifted its holdings in Rayonier Inc. (NYSE:RYN) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 347,630 shares of the real estate investment trust’s stock after acquiring an additional 4,760 shares during the quarter. Ancora Advisors LLC owned approximately 0.23% of Rayonier worth $9,073,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pacer Advisors Inc. boosted its stake in Rayonier by 2.3% during the 4th quarter. Pacer Advisors Inc. now owns 19,993 shares of the real estate investment trust’s stock worth $522,000 after acquiring an additional 442 shares during 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. UMB Bank n.a. raised its position 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 buying an additional 525 shares during the last quarter. Covestor Ltd lifted its stake in Rayonier by 30.0% in the 4th quarter. Covestor Ltd now owns 2,317 shares of the real estate investment trust’s stock valued at $60,000 after acquiring an additional 535 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its position 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 acquiring an additional 857 shares during the last quarter. 89.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on RYN. Citigroup cut their price objective on shares of Rayonier from $32.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Royal Bank of Canada reduced their price objective 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. StockNews.com upgraded Rayonier from a “hold” rating to a “buy” rating in a report on Monday, February 24th. 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. Finally, Truist Financial lowered their target price on shares of Rayonier from $30.00 to $27.00 and set a “hold” rating on the stock in a report on Tuesday, April 22nd. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $27.50.

Rayonier Price Performance

Shares of RYN opened at $23.66 on Friday. The company’s 50-day moving average is $26.11 and its 200-day moving average is $27.59. 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 firm has a market capitalization of $3.69 billion, a PE ratio of 10.03 and a beta of 0.97. Rayonier Inc. has a fifty-two week low of $22.80 and a fifty-two week high of $31.29.

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

Rayonier Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date was Monday, March 17th. Rayonier’s dividend payout ratio is 46.19%.

About Rayonier

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.