Benjamin F. Edwards & Company Inc. Acquires 890 Shares of Rayonier Inc. (NYSE:RYN)

Benjamin F. Edwards & Company Inc. boosted its holdings in Rayonier Inc. (NYSE:RYN) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,805 shares of the real estate investment trust’s stock after purchasing an additional 890 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Rayonier were worth $929,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in RYN. Victory Capital Management Inc. boosted its position in shares of Rayonier by 2.7% in the 3rd 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 in the last quarter. Swiss National Bank boosted its stake in Rayonier by 1.5% in the 3rd quarter. Swiss National Bank now owns 309,500 shares of the real estate investment trust’s stock worth $8,808,000 after purchasing an additional 4,500 shares in the last quarter. Russell Investments Group Ltd. grew its position in Rayonier by 1,201.1% during the 4th quarter. Russell Investments Group Ltd. now owns 259,199 shares of the real estate investment trust’s stock valued at $8,660,000 after purchasing an additional 239,278 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC increased its stake in Rayonier by 66.2% during 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 in the last quarter. Finally, Retirement Systems of Alabama raised its holdings in Rayonier by 0.3% in the fourth quarter. Retirement Systems of Alabama now owns 170,870 shares of the real estate investment trust’s stock worth $5,709,000 after buying an additional 550 shares during the last quarter. Institutional investors own 89.12% of the company’s stock.

Rayonier Trading Down 1.0 %

Shares of RYN stock opened at $29.67 on Wednesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.46 and a quick ratio of 2.04. The company has a market cap of $4.41 billion, a price-to-earnings ratio of 26.49 and a beta of 1.09. Rayonier Inc. has a 1 year low of $24.84 and a 1 year high of $35.29. The firm has a fifty day moving average price of $32.21 and a 200-day moving average price of $31.60.

Rayonier (NYSE:RYN) last issued its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $168.10 million during the quarter, compared to analysts’ expectations of $190.04 million. Rayonier had a return on equity of 3.21% and a net margin of 15.92%. The business’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.01 earnings per share. As a group, equities analysts predict that Rayonier Inc. will post 0.48 earnings per share for the current year.

Rayonier Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $0.285 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.14 annualized dividend and a dividend yield of 3.84%. Rayonier’s payout ratio is 101.79%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RYN. StockNews.com raised Rayonier from a “hold” rating to a “buy” rating in a research report on Thursday, May 2nd. Royal Bank of Canada increased their price objective on shares of Rayonier from $34.00 to $35.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. Finally, TheStreet raised Rayonier from a “c+” rating to a “b-” rating in a report on Friday, February 16th. Two analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Rayonier currently has an average rating of “Hold” and an average price target of $34.50.

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.