Corient Private Wealth LLC Sells 33,311 Shares of Rayonier Inc. (NYSE:RYN)

Corient Private Wealth LLC lessened its holdings in shares of Rayonier Inc. (NYSE:RYN) by 39.3% during the 4th quarter, Holdings Channel reports. The firm owned 51,483 shares of the real estate investment trust’s stock after selling 33,311 shares during the period. Corient Private Wealth LLC’s holdings in Rayonier were worth $1,344,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Rayonier by 119.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 457,370 shares of the real estate investment trust’s stock valued at $14,718,000 after buying an additional 249,173 shares during the last quarter. Firetrail Investments PTY Ltd. increased its holdings in Rayonier by 56.1% in the 4th quarter. Firetrail Investments PTY Ltd. now owns 384,490 shares of the real estate investment trust’s stock valued at $10,072,000 after acquiring an additional 138,203 shares during the last quarter. Global Alpha Capital Management Ltd. lifted its stake in Rayonier by 11.3% in the 4th quarter. Global Alpha Capital Management Ltd. now owns 1,150,927 shares of the real estate investment trust’s stock worth $30,039,000 after purchasing an additional 116,800 shares in the last quarter. State Street Corp boosted its holdings in shares of Rayonier by 2.5% during the 3rd quarter. State Street Corp now owns 4,279,512 shares of the real estate investment trust’s stock valued at $137,715,000 after purchasing an additional 104,464 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of Rayonier by 87.6% during the third quarter. BNP Paribas Financial Markets now owns 161,130 shares of the real estate investment trust’s stock valued at $5,185,000 after purchasing an additional 75,258 shares in the last quarter. 89.12% of the stock is owned by hedge funds and other institutional investors.

Rayonier Stock Performance

NYSE RYN opened at $27.47 on Wednesday. The business’s 50 day moving average price is $26.55 and its 200-day moving average price is $28.85. Rayonier Inc. has a fifty-two week low of $24.88 and a fifty-two week high of $32.05. The company has a market cap of $4.29 billion, a P/E ratio of 11.64 and a beta of 1.00. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.85 and a current ratio of 1.12.

Rayonier (NYSE:RYN) last announced its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.08. Rayonier had a net margin of 28.44% and a return on equity of 3.86%. Sell-side analysts predict that Rayonier Inc. will post 0.55 earnings per share for the current year.

Rayonier announced that its Board of Directors has authorized a stock repurchase program on Monday, December 2nd that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Rayonier Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a $0.2725 dividend. This represents a $1.09 annualized dividend and a yield of 3.97%. The ex-dividend date is Monday, March 17th. Rayonier’s payout ratio is currently 46.19%.

Analyst Ratings Changes

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

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.