Quantbot Technologies LP Sells 15,234 Shares of Rayonier Inc. (NYSE:RYN)

Quantbot Technologies LP cut its position in shares of Rayonier Inc. (NYSE:RYNFree Report) by 63.5% in the third quarter, Holdings Channel.com reports. The firm owned 8,758 shares of the real estate investment trust’s stock after selling 15,234 shares during the quarter. Quantbot Technologies LP’s holdings in Rayonier were worth $249,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Rayonier by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 21,486,063 shares of the real estate investment trust’s stock worth $643,938,000 after purchasing an additional 418,687 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Rayonier by 2.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,837,099 shares of the real estate investment trust’s stock worth $560,003,000 after purchasing an additional 322,755 shares during the period. BlackRock Inc. boosted its stake in shares of Rayonier by 0.7% during the 1st quarter. BlackRock Inc. now owns 13,769,910 shares of the real estate investment trust’s stock worth $566,221,000 after purchasing an additional 89,742 shares during the period. Norges Bank purchased a new position in shares of Rayonier during the 4th quarter worth about $376,137,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Rayonier by 7.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 9,606,436 shares of the real estate investment trust’s stock worth $301,642,000 after purchasing an additional 701,226 shares during the period. 82.75% of the stock is owned by hedge funds and other institutional investors.

Rayonier Trading Up 0.2 %

Shares of RYN opened at $32.95 on Friday. Rayonier Inc. has a 1-year low of $24.84 and a 1-year high of $35.71. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.40 and a quick ratio of 1.72. The firm has a market capitalization of $4.89 billion, a price-to-earnings ratio of 28.16 and a beta of 1.05. The company has a 50-day moving average of $32.24 and a 200 day moving average of $30.39.

Rayonier (NYSE:RYNGet Free Report) last posted its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $0.17 EPS for the quarter, meeting the consensus estimate of $0.17. Rayonier had a net margin of 16.41% and a return on equity of 2.89%. The business had revenue of $467.40 million during the quarter, compared to analyst estimates of $235.94 million. During the same quarter in the previous year, the business posted $0.11 EPS. On average, research analysts expect that Rayonier Inc. will post 0.46 EPS for the current year.

Rayonier Cuts Dividend

The firm also recently declared a special dividend, which was paid on Friday, January 12th. Stockholders of record on Friday, December 29th were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, December 28th. Rayonier’s dividend payout ratio is currently 97.44%.

Analyst Ratings Changes

A number of brokerages recently weighed in on RYN. Truist Financial lifted their price objective on shares of Rayonier from $33.00 to $34.00 and gave the company a “hold” rating in a report on Thursday, January 4th. StockNews.com lowered shares of Rayonier from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Royal Bank of Canada lifted their price objective on shares of Rayonier from $34.00 to $35.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $35.00.

View Our Latest Report on Rayonier

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

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Institutional Ownership by Quarter for Rayonier (NYSE:RYN)

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