2 weeks Ago By ABMN Staff
JPMorgan Chase & Co. trimmed its stake in Rayonier Inc. ( NYSE:RYN – Free Report ) by 35.
4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,182,846 shares of the real estate investment trust’s stock after selling 1,197,174 shares during the period. JPMorgan Chase & Co.
’s holdings in Rayonier were worth $56,972,000 at the end of the most recent quarter. A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Rayonier by 119.
7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 457,370 shares of the real estate investment trust’s stock worth $14,718,000 after acquiring an additional 249,173 shares during the last quarter. Firetrail Investments PTY Ltd.
boosted its stake in Rayonier by 56.1% during the 4th quarter. Firetrail Investments PTY Ltd.
now owns 384,490 shares of the real estate investment trust’s stock worth $10,072,000 after purchasing an additional 138,203 shares during the period. Global Alpha Capital Management Ltd. grew its position in Rayonier by 11.
3% during the 4th quarter. Global Alpha Capital Management Ltd. now owns 1,150,927 shares of the real estate investment trust’s stock worth $30,039,000 after purchasing an additional 116,800 shares during the last quarter.
State Street Corp increased its stake in Rayonier by 2.5% in the third quarter. State Street Corp now owns 4,279,512 shares of the real estate investment trust’s stock valued at $137,715,000 after purchasing an additional 104,464 shares during the period.
Finally, Raymond James Financial Inc. purchased a new stake in shares of Rayonier in the fourth quarter valued at about $1,455,000. 89.
12% of the stock is owned by hedge funds and other institutional investors. Wall Street Analyst Weigh In A number of research firms recently issued reports on RYN. Royal Bank of Canada lowered their price target on Rayonier from $33.
00 to $30.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. StockNews.
com upgraded Rayonier from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Raymond James raised Rayonier from a “market perform” rating to an “outperform” rating and set a $31.00 target price on the stock in a report on Wednesday, March 12th.
Truist Financial decreased 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.
Finally, Citigroup dropped their price objective on shares of Rayonier from $32.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th.
Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $29.
00. Rayonier Stock Down 7.0 % RYN opened at $25.
02 on Friday. 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 12 month low of $24.88 and a 12 month high of $31.29.
The stock has a market capitalization of $3.90 billion, a P/E ratio of 10.60 and a beta of 0.
97. The business has a 50 day simple moving average of $26.73 and a 200-day simple moving average of $28.
65. Rayonier ( NYSE:RYN – Get Free Report ) last issued its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.
27 EPS for the quarter, topping 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%.
On average, equities analysts anticipate that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.
Rayonier Cuts Dividend The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a $0.2725 dividend.
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.
36%. 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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