2 weeks Ago By ABMN Staff
Federated Hermes Inc. lowered its position in Rayonier Inc. ( NYSE:RYN – Free Report ) by 15.
0% during the 4th quarter, HoldingsChannel reports. The fund owned 7,668 shares of the real estate investment trust’s stock after selling 1,354 shares during the period. Federated Hermes Inc.
’s holdings in Rayonier were worth $200,000 at the end of the most recent quarter. Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Norges Bank bought a new stake in shares of Rayonier in the fourth quarter valued at about $343,007,000.
Massachusetts Financial Services Co. MA raised its holdings in shares of Rayonier by 0.6% during the fourth quarter.
Massachusetts Financial Services Co. MA now owns 3,372,817 shares of the real estate investment trust’s stock worth $88,031,000 after purchasing an additional 20,126 shares during the last quarter. Geode Capital Management LLC raised its position in Rayonier by 1.
5% during the fourth 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 acquiring an additional 39,332 shares in the last quarter. Charles Schwab Investment Management Inc.
increased its holdings in Rayonier by 1.9% in the fourth 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 in the last quarter. Finally, Franklin Resources Inc. acquired a new position in shares of Rayonier during the 4th quarter worth approximately $30,935,000.
89.12% of the stock is currently owned by hedge funds and other institutional investors. Analysts Set New Price Targets Several research analysts recently commented on RYN shares.
Raymond James raised Rayonier from a “market perform” rating to an “outperform” rating and set a $31.00 price objective for the company in a research note on Wednesday, March 12th. StockNews.
com upgraded shares of Rayonier from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Truist Financial reduced their target price on shares of Rayonier from $32.00 to $30.
00 and set a “hold” rating on the stock in a report on Monday, January 6th. Royal Bank of Canada reduced their price objective on shares of Rayonier from $33.00 to $30.
00 and set a “sector perform” rating for the company in a research report on Friday, February 7th. Finally, Citigroup reduced their price target on shares of Rayonier from $32.00 to $25.
00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $29.
00. Rayonier Stock Performance NYSE:RYN opened at $25.25 on Friday.
The firm’s fifty day simple moving average is $26.37 and its 200-day simple moving average is $28.09.
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 quick ratio of 1.85, a current ratio of 1.
12 and a debt-to-equity ratio of 0.61. Rayonier Inc.
has a fifty-two week low of $22.80 and a fifty-two week high of $31.29.
Rayonier ( NYSE:RYN – Get Free Report ) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.
19 by $0.08. Rayonier had a return on equity of 3.
86% and a net margin of 28.44%. Analysts expect that Rayonier Inc.
will post 0.55 earnings per share for the current fiscal year. Rayonier Cuts Dividend The company also recently announced a quarterly dividend, which was paid on Monday, March 31st.
Investors of record on Monday, March 17th were given a dividend of $0.2725 per share. The ex-dividend date of this dividend was Monday, March 17th.
This represents a $1.09 dividend on an annualized basis and a yield of 4.32%.
Rayonier’s dividend payout ratio (DPR) is currently 46.19%. Rayonier Company Profile ( Free Report ) 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.
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