Swiss National Bank Purchases 16,282 Shares of Rayonier Inc. (NYSE:RYN)

Swiss National Bank boosted its stake in Rayonier Inc. (NYSE:RYN) by 5.9% in the fourth quarter, HoldingsChannel reports. The firm owned 292,382 shares of the real estate investment trust’s stock after acquiring an additional 16,282 shares during the period. Swiss National Bank’s holdings in Rayonier were worth $7,631,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. UMB Bank n.a. boosted its stake in shares of Rayonier by 59.7% during the 4th quarter. UMB Bank n.a. now owns 1,404 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 525 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in Rayonier by 264.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,677 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 1,217 shares in the last quarter. GAMMA Investing LLC lifted its stake in Rayonier by 41.8% in the 4th quarter. GAMMA Investing LLC now owns 1,733 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 511 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of Rayonier by 36.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 3,186 shares of the real estate investment trust’s stock worth $83,000 after buying an additional 857 shares during the last quarter. Finally, KBC Group NV increased its holdings in shares of Rayonier by 61.1% in the 4th quarter. KBC Group NV now owns 6,460 shares of the real estate investment trust’s stock worth $169,000 after buying an additional 2,449 shares during the last quarter. Institutional investors own 89.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on RYN shares. Royal Bank of Canada cut their price target on shares of Rayonier from $33.00 to $30.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. Truist Financial dropped their target price on shares of Rayonier from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Monday, January 6th. Citigroup lowered their price target on shares of Rayonier from $32.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. StockNews.com raised shares of Rayonier from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Finally, Raymond James raised shares of Rayonier from a “market perform” rating to an “outperform” rating and set a $31.00 target price for the company in a research report on Wednesday, March 12th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $29.00.

Rayonier Trading Down 2.2 %

Shares of Rayonier stock opened at $27.61 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.85 and a debt-to-equity ratio of 0.61. Rayonier Inc. has a 12-month low of $24.88 and a 12-month high of $32.05. The firm has a market capitalization of $4.31 billion, a price-to-earnings ratio of 11.70 and a beta of 1.00. The firm’s 50 day simple moving average is $26.47 and its two-hundred day simple moving average is $28.91.

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

Rayonier Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.2725 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.09 dividend on an annualized basis and a dividend yield of 3.95%. Rayonier’s payout ratio is currently 46.19%.

Rayonier announced that its board has approved a stock buyback plan on Monday, December 2nd that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to buy up to 6.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

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.