Vanguard Group Inc. Has $532.61 Million Stock Holdings in Rayonier Inc. (NYSE:RYN)

Vanguard Group Inc. lowered its position in shares of Rayonier Inc. (NYSE:RYN) by 0.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,406,590 shares of the real estate investment trust’s stock after selling 30,676 shares during the quarter. Vanguard Group Inc. owned 13.70% of Rayonier worth $532,612,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd acquired a new position in shares of Rayonier in the 4th quarter valued at $25,000. UMB Bank n.a. boosted its stake in Rayonier by 59.7% in the 4th quarter. UMB Bank n.a. now owns 1,404 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 525 shares during the period. Steward Partners Investment Advisory LLC increased its holdings in Rayonier by 264.6% during 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 increased its holdings in Rayonier by 41.8% during 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. Finally, Harbor Capital Advisors Inc. raised its stake 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 valued at $83,000 after purchasing an additional 857 shares during the period. Institutional investors own 89.12% of the company’s stock.

Rayonier Price Performance

Shares of RYN opened at $27.91 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 1.85 and a debt-to-equity ratio of 0.61. The company’s fifty day simple moving average is $26.68 and its 200 day simple moving average is $28.77. Rayonier Inc. has a 1-year low of $24.88 and a 1-year high of $31.62. The company has a market cap of $4.36 billion, a price-to-earnings ratio of 11.83 and a beta of 1.00.

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 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%. On average, research analysts forecast that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.

Rayonier declared that its board has authorized a share repurchase program on Monday, December 2nd that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to repurchase up to 6.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Rayonier Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a $0.2725 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.09 dividend on an annualized basis and a dividend yield of 3.90%. Rayonier’s payout ratio is 46.19%.

Analyst Ratings Changes

A number of research analysts recently issued reports on RYN shares. StockNews.com upgraded Rayonier from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Raymond James upgraded shares of Rayonier from a “market perform” rating to an “outperform” rating and set a $31.00 price objective on the stock in a report on Wednesday, March 12th. Citigroup reduced 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. Truist Financial lowered their price target 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. Finally, 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. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $29.00.

About Rayonier

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.