Rayonier Inc. (NYSE:RYN) Shares Sold by Cerity Partners LLC

Cerity Partners LLC lowered its position in shares of Rayonier Inc. (NYSE:RYN) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,653 shares of the real estate investment trust’s stock after selling 652 shares during the period. Cerity Partners LLC’s holdings in Rayonier were worth $965,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of RYN. Norges Bank purchased a new stake in shares of Rayonier in the fourth quarter valued at about $343,007,000. Massachusetts Financial Services Co. MA boosted its stake in shares of Rayonier by 0.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,372,817 shares of the real estate investment trust’s stock worth $88,031,000 after acquiring an additional 20,126 shares in the last quarter. Geode Capital Management LLC grew its holdings in Rayonier by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 2,632,193 shares of the real estate investment trust’s stock valued at $68,719,000 after purchasing an additional 39,332 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Rayonier by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,488,802 shares of the real estate investment trust’s stock valued at $64,958,000 after acquiring an additional 46,956 shares during the last quarter. Finally, Franklin Resources Inc. acquired a new stake in shares of Rayonier in the fourth quarter valued at approximately $30,935,000. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Rayonier Stock Performance

NYSE RYN opened at $25.25 on Friday. The business’s 50-day simple moving average is $26.37 and its 200-day simple moving average is $28.09. The firm has a market capitalization of $3.94 billion, a P/E ratio of 10.70 and a beta of 0.97. Rayonier Inc. has a 1-year low of $22.80 and a 1-year high of $31.29. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.12 and a quick ratio of 1.85.

Rayonier (NYSE:RYN) last announced 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%. Equities analysts predict that Rayonier Inc. will post 0.55 EPS for the current year.

Rayonier Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a $0.2725 dividend. The ex-dividend date was Monday, March 17th. This represents a $1.09 dividend on an annualized basis and a yield of 4.32%. Rayonier’s dividend payout ratio is currently 46.19%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Citigroup reduced their price objective on Rayonier from $32.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Truist Financial decreased 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. StockNews.com raised shares of Rayonier from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Royal Bank of Canada decreased their target price on shares of 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 for the company in a report on Wednesday, March 12th. Three investment 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 presently has an average rating of “Hold” and an average 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.