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

Corient Private Wealth LLC lowered its position in shares of Rayonier Inc. (NYSE:RYN) by 39.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its holdings 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 worth $423,000 after purchasing an additional 11,892 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Rayonier by 0.3% during the third 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 last quarter. BNP Paribas Financial Markets increased its holdings in 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 worth $5,185,000 after buying an additional 75,258 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Rayonier by 119.7% in the 3rd 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 worth $14,718,000 after buying an additional 249,173 shares during the last quarter. Finally, Walleye Capital LLC bought a new position in Rayonier during the 3rd quarter valued at about $435,000. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RYN has been the subject of a number of research analyst reports. Royal Bank of Canada reduced their price target 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. StockNews.com upgraded shares of Rayonier from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. 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. Citigroup reduced their price objective on Rayonier from $32.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Finally, Raymond James raised Rayonier from a “market perform” rating to an “outperform” rating and set a $31.00 target price on the stock in a research report on Wednesday, March 12th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $29.00.

Rayonier Trading Down 1.3 %

Shares of RYN stock opened at $27.47 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.12 and a quick ratio of 1.85. The company has a market cap of $4.29 billion, a price-to-earnings ratio of 11.64 and a beta of 1.00. Rayonier Inc. has a 1 year low of $24.88 and a 1 year high of $32.05. The firm has a fifty day moving average price of $26.55 and a 200-day moving average price of $28.85.

Rayonier (NYSE:RYN) last released its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, beating 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, equities analysts predict that Rayonier Inc. will post 0.55 earnings per share for the current year.

Rayonier Cuts Dividend

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

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

Rayonier 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.