Proficio Capital Partners LLC Purchases New Shares in Rayonier Inc. (NYSE:RYN)

Proficio Capital Partners LLC purchased a new stake in shares of Rayonier Inc. (NYSE:RYN) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 24,821 shares of the real estate investment trust’s stock, valued at approximately $648,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RYN. Segall Bryant & Hamill LLC acquired a new stake in Rayonier during the 3rd quarter valued at $373,000. Advisors Asset Management Inc. increased its stake in shares of Rayonier by 948.3% in the 3rd quarter. Advisors Asset Management Inc. now owns 13,146 shares of the real estate investment trust’s stock valued at $423,000 after buying an additional 11,892 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Rayonier by 26.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,352,691 shares of the real estate investment trust’s stock valued at $107,890,000 after buying an additional 695,810 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Rayonier by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,441,846 shares of the real estate investment trust’s stock valued at $78,579,000 after buying an additional 7,733 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in shares of Rayonier by 87.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 161,130 shares of the real estate investment trust’s stock valued at $5,185,000 after buying an additional 75,258 shares during the period. 89.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Rayonier Stock Performance

RYN stock opened at $27.61 on Monday. The business’s 50-day moving average price is $26.47 and its two-hundred day moving average price is $28.89. 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 firm has a market cap of $4.31 billion, a PE ratio of 11.70 and a beta of 1.00. Rayonier Inc. has a 1-year low of $24.88 and a 1-year high of $32.05.

Rayonier (NYSE:RYN) last posted its earnings results 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 return on equity of 3.86% and a net margin of 28.44%. As a group, research analysts forecast that Rayonier Inc. will post 0.55 earnings per share for the current year.

Rayonier declared that its board has authorized a stock buyback 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 purchase up to 6.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Rayonier Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a dividend of $0.2725 per share. The ex-dividend date is Monday, March 17th. This represents a $1.09 annualized dividend and a yield of 3.95%. Rayonier’s dividend payout ratio is presently 46.19%.

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.