Rayonier Inc. (NYSE:RYN) Position Reduced by Cerity Partners LLC

Cerity Partners LLC decreased its position in Rayonier Inc. (NYSE:RYN) by 1.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 36,653 shares of the real estate investment trust’s stock after selling 652 shares during the period. Cerity Partners LLC’s holdings in Rayonier were worth $965,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in RYN. Russell Investments Group Ltd. grew its holdings in shares of Rayonier by 1.7% during the fourth quarter. Russell Investments Group Ltd. now owns 713,037 shares of the real estate investment trust’s stock valued at $18,610,000 after purchasing an additional 11,969 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Rayonier during the 4th quarter worth about $320,000. ExodusPoint Capital Management LP acquired a new stake in Rayonier in the fourth quarter worth approximately $4,726,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of Rayonier by 0.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,372,817 shares of the real estate investment trust’s stock valued at $88,031,000 after buying an additional 20,126 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Rayonier by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 2,632,193 shares of the real estate investment trust’s stock valued at $68,719,000 after acquiring an additional 39,332 shares during the last quarter. Institutional investors and hedge funds own 89.12% of the company’s stock.

Rayonier Trading Up 0.7 %

Shares of RYN stock opened at $25.25 on Friday. Rayonier Inc. has a 12-month low of $22.80 and a 12-month high of $31.29. The firm has a 50-day moving average price of $26.37 and a 200 day moving average price of $28.09. The company has a quick ratio of 1.85, a current ratio of 1.12 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $3.94 billion, a P/E ratio of 10.70 and a beta of 0.97.

Rayonier (NYSE:RYN) last released its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.08. Rayonier had a return on equity of 3.86% and a net margin of 28.44%. Research analysts forecast that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.

Rayonier Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.2725 dividend. The ex-dividend date was Monday, March 17th. This represents a $1.09 annualized dividend and a yield of 4.32%. Rayonier’s dividend payout ratio is currently 46.19%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on RYN shares. StockNews.com raised Rayonier from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. 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. Raymond James raised Rayonier from a “market perform” rating to an “outperform” rating and set a $31.00 price target for the company in a research note on Wednesday, March 12th. Royal Bank of Canada reduced their price objective on shares of Rayonier from $33.00 to $30.00 and set a “sector perform” rating for the company in a research note on Friday, February 7th. Finally, Truist Financial decreased their target price on Rayonier from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $29.00.

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