Rayonier Inc. (NYSE:RYN) Shares Acquired by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina increased its holdings in shares of Rayonier Inc. (NYSE:RYN) by 5.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 67,787 shares of the real estate investment trust’s stock after acquiring an additional 3,240 shares during the period. Treasurer of the State of North Carolina’s holdings in Rayonier were worth $1,769,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Harvest Fund Management Co. Ltd acquired a new stake in Rayonier in the fourth quarter valued at approximately $25,000. UMB Bank n.a. lifted its position in shares of Rayonier by 59.7% during 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 in the last quarter. Steward Partners Investment Advisory LLC grew its stake in Rayonier by 264.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,677 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 1,217 shares during the period. GAMMA Investing LLC increased its holdings in Rayonier by 41.8% in the 4th quarter. GAMMA Investing LLC now owns 1,733 shares of the real estate investment trust’s stock worth $45,000 after acquiring an additional 511 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in Rayonier by 36.8% during the fourth 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 period. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Rayonier Stock Up 0.7 %

Shares of NYSE RYN opened at $25.25 on Friday. The stock has a market cap of $3.94 billion, a PE ratio of 10.70 and a beta of 0.97. The company has a current ratio of 1.12, a quick ratio of 1.85 and a debt-to-equity ratio of 0.61. Rayonier Inc. has a 12-month low of $22.80 and a 12-month high of $31.29. The company has a 50-day moving average of $26.37 and a 200 day moving average of $28.14.

Rayonier (NYSE:RYN) last posted its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.27 EPS for the quarter, beating the consensus estimate of $0.19 by $0.08. Rayonier had a return on equity of 3.86% and a net margin of 28.44%. As a group, sell-side analysts predict that Rayonier Inc. will post 0.55 EPS for the current fiscal year.

Rayonier Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date was Monday, March 17th. Rayonier’s dividend payout ratio is currently 46.19%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on RYN shares. Royal Bank of Canada dropped their target price on shares of Rayonier from $33.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Friday, February 7th. 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 report on Wednesday, March 12th. StockNews.com raised Rayonier from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Citigroup lowered their price target on Rayonier from $32.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Finally, Truist Financial dropped their price target on Rayonier from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Monday, January 6th. 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, Rayonier has a consensus rating of “Hold” and an average target price of $29.00.

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.