Independent Advisor Alliance Buys Shares of 6,927 Rayonier Inc. (NYSE:RYN)

Independent Advisor Alliance purchased a new stake in Rayonier Inc. (NYSE:RYN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 6,927 shares of the real estate investment trust’s stock, valued at approximately $231,000.

A number of other institutional investors also recently made changes to their positions in the company. Raymond James & Associates grew its position in Rayonier by 1.1% during the third quarter. Raymond James & Associates now owns 60,135 shares of the real estate investment trust’s stock worth $1,711,000 after buying an additional 660 shares in the last quarter. Fifth Third Bancorp lifted its stake in Rayonier by 84.7% during the third quarter. Fifth Third Bancorp now owns 1,919 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 880 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Rayonier by 2.7% during the third quarter. Victory Capital Management Inc. now owns 3,965,573 shares of the real estate investment trust’s stock worth $112,860,000 after purchasing an additional 105,884 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Rayonier by 7.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 11,651 shares of the real estate investment trust’s stock valued at $332,000 after acquiring an additional 762 shares during the last quarter. Finally, Arizona State Retirement System lifted its stake in shares of Rayonier by 1.9% in the 3rd quarter. Arizona State Retirement System now owns 40,093 shares of the real estate investment trust’s stock valued at $1,141,000 after acquiring an additional 743 shares during the last quarter. Institutional investors own 89.12% of the company’s stock.

Analysts Set New Price Targets

RYN has been the subject of a number of research reports. TheStreet upgraded Rayonier from a “c+” rating to a “b-” rating in a research note on Friday, February 16th. StockNews.com lowered Rayonier from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Finally, Royal Bank of Canada raised their target price on Rayonier from $34.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Three research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $34.50.

Rayonier Stock Down 1.2 %

Shares of Rayonier stock opened at $29.88 on Thursday. The firm has a market cap of $4.45 billion, a price-to-earnings ratio of 26.68 and a beta of 1.09. The stock’s 50-day moving average is $31.20 and its 200 day moving average is $31.87. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.46 and a quick ratio of 2.08. Rayonier Inc. has a one year low of $24.84 and a one year high of $35.29.

Rayonier (NYSE:RYN) last released its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. Rayonier had a net margin of 15.92% and a return on equity of 3.21%. The company had revenue of $168.10 million for the quarter, compared to the consensus estimate of $190.04 million. During the same quarter in the previous year, the company earned $0.01 EPS. Rayonier’s quarterly revenue was down 6.1% compared to the same quarter last year. Equities research analysts anticipate that Rayonier Inc. will post 0.47 EPS for the current year.

Rayonier Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.285 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.82%. Rayonier’s payout ratio is presently 101.79%.

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.