Leavell Investment Management Inc. Has $1.29 Million Stake in Rayonier Inc. (NYSE:RYN)

Leavell Investment Management Inc. grew its position in shares of Rayonier Inc. (NYSE:RYN) by 1.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,352 shares of the real estate investment trust’s stock after buying an additional 363 shares during the quarter. Leavell Investment Management Inc.’s holdings in Rayonier were worth $1,289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in RYN. Millburn Ridgefield Corp bought a new position in shares of Rayonier in the 3rd quarter valued at approximately $26,000. Neo Ivy Capital Management bought a new position in shares of Rayonier in the 2nd quarter valued at approximately $51,000. Fifth Third Bancorp raised its stake in shares of Rayonier by 84.7% in 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 in the last quarter. Point72 Middle East FZE bought a new position in shares of Rayonier in the 4th quarter valued at approximately $82,000. Finally, Captrust Financial Advisors bought a new position in shares of Rayonier in the 2nd quarter valued at approximately $105,000. 89.12% of the stock is currently owned by institutional investors and hedge funds.

Rayonier Price Performance

Shares of RYN stock opened at $31.95 on Friday. The stock’s fifty day simple moving average is $33.19 and its 200 day simple moving average is $31.09. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.26 and a quick ratio of 2.04. The firm has a market cap of $4.75 billion, a price-to-earnings ratio of 27.31 and a beta of 1.07. Rayonier Inc. has a one year low of $24.84 and a one year high of $35.29.

Rayonier (NYSE:RYN) last announced 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. The business had revenue of $467.40 million for the quarter, compared to analyst estimates of $235.94 million. Rayonier had a return on equity of 2.89% and a net margin of 16.41%. During the same quarter in the previous year, the firm earned $0.11 EPS. On average, analysts expect that Rayonier Inc. will post 0.48 earnings per share for the current fiscal year.

Rayonier Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date was Wednesday, March 13th. Rayonier’s dividend payout ratio is currently 97.44%.

Analyst Upgrades and Downgrades

Several brokerages have commented on RYN. Truist Financial lifted their price target on Rayonier from $33.00 to $34.00 and gave the stock a “hold” rating in a research report on Thursday, January 4th. Royal Bank of Canada boosted their price objective on Rayonier from $34.00 to $35.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. StockNews.com upgraded Rayonier from a “sell” rating to a “hold” rating in a research report on Monday, February 26th. Finally, TheStreet upgraded Rayonier from a “c+” rating to a “b-” rating in a research report on Friday, February 16th. Four analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $35.00.

Rayonier 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.