Nordea Investment Management AB Purchases 12,028 Shares of Rayonier Inc. (NYSE:RYN)

Nordea Investment Management AB grew its position in shares of Rayonier Inc. (NYSE:RYN) by 6.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 195,369 shares of the real estate investment trust’s stock after acquiring an additional 12,028 shares during the quarter. Nordea Investment Management AB’s holdings in Rayonier were worth $5,087,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. lifted its position in shares of Rayonier by 1.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 28,472 shares of the real estate investment trust’s stock valued at $828,000 after buying an additional 368 shares during the last quarter. Sei Investments Co. lifted its position in shares of Rayonier by 1.3% during the 2nd quarter. Sei Investments Co. now owns 30,341 shares of the real estate investment trust’s stock valued at $883,000 after buying an additional 391 shares during the last quarter. CWM LLC lifted its position in shares of Rayonier by 20.6% during the 3rd quarter. CWM LLC now owns 2,849 shares of the real estate investment trust’s stock valued at $92,000 after buying an additional 487 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Rayonier by 2.1% during the 2nd quarter. Bank of Montreal Can now owns 23,606 shares of the real estate investment trust’s stock valued at $716,000 after buying an additional 490 shares during the last quarter. Finally, GAMMA Investing LLC lifted 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. Institutional investors own 89.12% of the company’s stock.

Wall Street Analysts Forecast Growth

RYN has been the topic of several recent analyst reports. Truist Financial lowered their price target on Rayonier from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Monday, January 6th. StockNews.com raised Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, November 16th.

Rayonier Trading Down 3.1 %

RYN opened at $24.93 on Friday. The company has a quick ratio of 1.85, a current ratio of 1.99 and a debt-to-equity ratio of 0.71. The business has a 50 day moving average of $29.16 and a 200-day moving average of $29.98. Rayonier Inc. has a 52 week low of $24.88 and a 52 week high of $35.29. The stock has a market cap of $3.71 billion, a PE ratio of 23.52 and a beta of 1.04.

Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The business had revenue of $195.00 million for the quarter, compared to the consensus estimate of $211.21 million. Rayonier had a net margin of 15.84% and a return on equity of 2.95%. The company’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.13 earnings per share. Equities research analysts predict that Rayonier Inc. will post 0.38 earnings per share for the current fiscal year.

Rayonier Increases Dividend

The company also recently disclosed a special dividend, which will be paid on Thursday, January 30th. Investors of record on Thursday, December 12th will be given a dividend of $1.80 per share. This is a boost from Rayonier’s previous special dividend of $0.20. Rayonier’s dividend payout ratio is 107.55%.

Rayonier announced that its board has approved a share repurchase plan on Monday, December 2nd that permits the company to buyback $300.00 million in shares. This buyback authorization permits the real estate investment trust to reacquire up to 6.4% of its stock through open market purchases. Stock buyback plans are usually 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.