2 weeks Ago By ABMN Staff
Renaissance Technologies LLC acquired a new position in shares of Rayonier Inc. ( NYSE:RYN – Free Report ) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 164,015 shares of the real estate investment trust’s stock, valued at approximately $4,281,000.
Renaissance Technologies LLC owned 0.11% of Rayonier as of its most recent SEC filing. Other large investors also recently made changes to their positions in the company.
Oak Thistle LLC acquired a new position in shares of Rayonier during the 4th quarter worth approximately $467,000. Oppenheimer & Co. Inc.
acquired a new position in Rayonier in the 4th quarter valued at $327,000. HighTower Advisors LLC lifted its position in shares of Rayonier by 3.4% during the 4th quarter.
HighTower Advisors LLC now owns 66,571 shares of the real estate investment trust’s stock valued at $1,738,000 after acquiring an additional 2,168 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Rayonier by 1.
9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,488,802 shares of the real estate investment trust’s stock worth $64,958,000 after purchasing an additional 46,956 shares in the last quarter.
Finally, Swiss National Bank raised its stake in Rayonier by 5.9% in the fourth quarter. Swiss National Bank now owns 292,382 shares of the real estate investment trust’s stock valued at $7,631,000 after purchasing an additional 16,282 shares in the last quarter.
Institutional investors own 89.12% of the company’s stock. Wall Street Analysts Forecast Growth Several equities analysts have commented on the stock.
StockNews.com raised shares of Rayonier from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Royal Bank of Canada reduced their target price on Rayonier from $33.
00 to $30.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. Truist Financial lowered their price target on Rayonier from $32.
00 to $30.00 and set a “hold” rating for the company in a report on Monday, January 6th. Citigroup lowered their target price on Rayonier from $32.
00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Finally, Raymond James upgraded shares of Rayonier from a “market perform” rating to an “outperform” rating and set a $31.
00 price target on the stock in a research note on Wednesday, March 12th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $29.
00. Rayonier Trading Down 2.4 % RYN opened at $24.
67 on Tuesday. The company’s 50 day moving average price is $26.36 and its two-hundred day moving average price is $27.
99. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.
12 and a quick ratio of 1.85. Rayonier Inc.
has a fifty-two week low of $22.80 and a fifty-two week high of $31.29.
The firm has a market capitalization of $3.85 billion, a price-to-earnings ratio of 10.45 and a beta of 0.
97. Rayonier ( NYSE:RYN – Get Free Report ) last announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.
27 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.08.
Rayonier had a net margin of 28.44% and a return on equity of 3.86%.
As a group, research analysts predict that Rayonier Inc. will post 0.55 earnings per share for the current year.
Rayonier Cuts Dividend The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a dividend of $0.2725 per share.
This represents a $1.09 annualized dividend and a yield of 4.42%.
The ex-dividend date was Monday, March 17th. Rayonier’s dividend payout ratio (DPR) is presently 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.
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