Westwood Holdings Group Inc. Buys Shares of 140,000 Rayonier Inc. (NYSE:RYN)

Westwood Holdings Group Inc. bought a new stake in shares of Rayonier Inc. (NYSE:RYN) during the 4th quarter, HoldingsChannel.com reports. The firm bought 140,000 shares of the real estate investment trust’s stock, valued at approximately $3,654,000.

Several other large investors also recently added to or reduced their stakes in RYN. Norges Bank acquired a new stake in Rayonier during the 4th quarter valued at $343,007,000. Deutsche Bank AG raised its stake in Rayonier by 730.8% during the 4th quarter. Deutsche Bank AG now owns 1,829,422 shares of the real estate investment trust’s stock valued at $47,748,000 after purchasing an additional 1,609,232 shares during the period. Franklin Resources Inc. acquired a new stake in Rayonier during the 4th quarter valued at $30,935,000. Millennium Management LLC raised its stake in Rayonier by 253.3% during the 4th quarter. Millennium Management LLC now owns 1,094,880 shares of the real estate investment trust’s stock valued at $28,576,000 after purchasing an additional 784,955 shares during the period. Finally, Northern Trust Corp raised its stake in Rayonier by 17.9% during the 4th quarter. Northern Trust Corp now owns 1,543,523 shares of the real estate investment trust’s stock valued at $40,286,000 after purchasing an additional 234,629 shares during the period. 89.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RYN has been the topic of several recent analyst reports. Raymond James raised shares of Rayonier from a “market perform” rating to an “outperform” rating and set a $31.00 target price on the stock in a research note on Wednesday, March 12th. Truist Financial dropped their price target on shares of Rayonier from $30.00 to $27.00 and set a “hold” rating on the stock in a research note on Tuesday, April 22nd. StockNews.com raised shares of Rayonier from a “sell” rating to a “hold” rating in a research note on Tuesday, May 13th. Finally, Royal Bank of Canada dropped their price target on shares of Rayonier from $28.00 to $27.00 and set a “sector perform” rating on the stock in a research note on Friday, May 2nd. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Rayonier currently has a consensus rating of “Hold” and a consensus price target of $27.50.

Rayonier Trading Down 0.5%

NYSE RYN opened at $23.92 on Wednesday. Rayonier Inc. has a 1-year low of $22.80 and a 1-year high of $31.29. The company has a current ratio of 1.12, a quick ratio of 1.85 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $3.73 billion, a PE ratio of 10.14 and a beta of 1.07. The firm’s fifty day simple moving average is $25.32 and its 200-day simple moving average is $26.90.

Rayonier (NYSE:RYN) last posted its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $152.99 million. During the same period last year, the company posted $0.01 earnings per share. The company’s revenue was down 27.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.

Rayonier Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date is Monday, June 16th. Rayonier’s dividend payout ratio is presently 46.78%.

Rayonier Company 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.