Sumitomo Mitsui Trust Holdings Inc. Acquires 15,872 Shares of Rayonier Inc. (NYSE:RYN)

Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Rayonier Inc. (NYSE:RYN) by 26.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,109 shares of the real estate investment trust’s stock after acquiring an additional 15,872 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.05% of Rayonier worth $2,543,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Rayonier in the 3rd quarter valued at $914,000. J.P. Morgan Private Wealth Advisors LLC boosted its stake in shares of Rayonier by 66.2% in the 3rd quarter. J.P. Morgan Private Wealth Advisors LLC now owns 228,879 shares of the real estate investment trust’s stock valued at $6,514,000 after purchasing an additional 91,141 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of Rayonier in the 3rd quarter valued at $393,000. Nisa Investment Advisors LLC boosted its stake in shares of Rayonier by 1.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 102,791 shares of the real estate investment trust’s stock valued at $3,434,000 after purchasing an additional 1,435 shares during the last quarter. Finally, Natixis Advisors L.P. boosted its stake in shares of Rayonier by 100.2% in the 3rd quarter. Natixis Advisors L.P. now owns 23,395 shares of the real estate investment trust’s stock valued at $666,000 after purchasing an additional 11,710 shares during the last quarter. 89.12% of the stock is owned by institutional investors.

Rayonier Stock Down 0.7 %

Shares of NYSE RYN opened at $30.24 on Thursday. The firm has a market cap of $4.50 billion, a PE ratio of 25.85 and a beta of 1.07. Rayonier Inc. has a 12-month low of $24.84 and a 12-month high of $35.29. The company’s fifty day simple moving average is $32.86 and its 200 day simple moving average is $31.38. The company has a quick ratio of 2.04, a current ratio of 2.26 and a debt-to-equity ratio of 0.73.

Rayonier (NYSE:RYN) last issued its earnings results on Wednesday, January 31st. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, hitting 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 for the quarter, compared to analyst estimates of $235.94 million. During the same period in the prior year, the firm earned $0.11 earnings per share. As a group, sell-side analysts forecast 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 issued a dividend of $0.285 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.14 annualized dividend and a yield of 3.77%. Rayonier’s payout ratio is 97.44%.

Analyst Ratings Changes

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

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 December 31, 2023, Rayonier owned or leased under long-term agreements approximately 2.7 million acres of timberlands located in the U.S.