Mutual of America Capital Management LLC Reduces Stock Position in Rayonier Inc. (NYSE:RYN)

Mutual of America Capital Management LLC lessened its stake in shares of Rayonier Inc. (NYSE:RYN) by 4.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 84,429 shares of the real estate investment trust’s stock after selling 4,367 shares during the quarter. Mutual of America Capital Management LLC owned about 0.06% of Rayonier worth $2,821,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in RYN. Millburn Ridgefield Corp purchased a new stake in shares of Rayonier during the 3rd quarter valued at about $26,000. Neo Ivy Capital Management purchased a new stake in shares of Rayonier during the 2nd quarter valued at about $51,000. Fifth Third Bancorp boosted its holdings in shares of Rayonier by 84.7% during the 3rd quarter. Fifth Third Bancorp now owns 1,919 shares of the real estate investment trust’s stock valued at $55,000 after acquiring an additional 880 shares during the last quarter. Point72 Middle East FZE purchased a new stake in shares of Rayonier during the 4th quarter valued at about $82,000. Finally, Captrust Financial Advisors purchased a new stake in shares of Rayonier during the 2nd quarter valued at about $105,000. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on RYN shares. TheStreet raised shares of Rayonier from a “c+” rating to a “b-” rating in a report on Friday, February 16th. Royal Bank of Canada raised their price objective on shares of Rayonier from $34.00 to $35.00 and gave the stock a “sector perform” rating in a report on Friday, February 2nd. Truist Financial raised their price objective on shares of Rayonier from $33.00 to $34.00 and gave the stock a “hold” rating in a report on Thursday, January 4th. Finally, StockNews.com raised shares of Rayonier from a “sell” rating to a “hold” rating in a report on Monday, February 26th. Three analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $34.50.

Rayonier Stock Performance

RYN opened at $30.25 on Friday. The company has a current ratio of 2.26, a quick ratio of 2.04 and a debt-to-equity ratio of 0.73. The company has a market cap of $4.50 billion, a price-to-earnings ratio of 25.85 and a beta of 1.07. The company’s 50 day moving average is $33.07 and its 200 day moving average is $31.27. Rayonier Inc. has a 12-month low of $24.84 and a 12-month high of $35.29.

Rayonier (NYSE:RYN) last released its earnings results on Wednesday, January 31st. The real estate investment trust reported $0.17 EPS for the quarter, hitting analysts’ consensus estimates of $0.17. Rayonier had a net margin of 16.41% and a return on equity of 2.89%. The company had revenue of $467.40 million for the quarter, compared to analysts’ expectations of $235.94 million. During the same quarter last year, the business earned $0.11 EPS. On average, equities research analysts predict that Rayonier Inc. will post 0.48 EPS for the current year.

Rayonier Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend was Wednesday, March 13th. Rayonier’s payout ratio is 97.44%.

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 September 30, 2023, Rayonier owned or leased under long-term agreements approximately 2.8 million acres of timberlands located in the U.S.