Principal Financial Group Inc. Buys 15,382 Shares of Rayonier Inc. (NYSE:RYN)

Principal Financial Group Inc. lifted its holdings in shares of Rayonier Inc. (NYSE:RYN) by 5.0% in the 1st quarter, HoldingsChannel reports. The fund owned 323,985 shares of the real estate investment trust’s stock after purchasing an additional 15,382 shares during the period. Principal Financial Group Inc.’s holdings in Rayonier were worth $9,033,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank bought a new stake in shares of Rayonier during the fourth quarter worth about $343,007,000. Massachusetts Financial Services Co. MA increased its position in shares of Rayonier by 0.6% during the fourth 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. Legal & General Group Plc increased its position in shares of Rayonier by 5.8% during the fourth quarter. Legal & General Group Plc now owns 3,107,331 shares of the real estate investment trust’s stock worth $81,101,000 after acquiring an additional 170,087 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Rayonier by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 2,632,193 shares of the real estate investment trust’s stock worth $68,719,000 after acquiring an additional 39,332 shares in the last quarter. Finally, Deutsche Bank AG increased its position in shares of Rayonier by 730.8% during the fourth quarter. Deutsche Bank AG now owns 1,829,422 shares of the real estate investment trust’s stock worth $47,748,000 after acquiring an additional 1,609,232 shares in the last quarter. 89.12% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Wall Street Zen raised shares of Rayonier from a “sell” rating to a “hold” rating in a research report on Tuesday, May 13th. Royal Bank Of Canada decreased their target price on shares of Rayonier from $28.00 to $27.00 and set a “sector perform” rating for the company in a research report on Friday, May 2nd. Truist Financial decreased their target price on shares of Rayonier from $30.00 to $27.00 and set a “hold” rating for the company in a research report on Tuesday, April 22nd. Finally, Citigroup reduced their price objective on shares of Rayonier from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Tuesday, June 3rd. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $27.75.

Rayonier Trading Down 0.4%

Shares of RYN stock opened at $23.40 on Tuesday. Rayonier Inc. has a 52-week low of $21.84 and a 52-week high of $31.29. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.60 and a current ratio of 2.71. The company has a 50-day simple moving average of $23.29 and a two-hundred day simple moving average of $25.09. The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of 10.04 and a beta of 1.02.

Rayonier (NYSE:RYN) last issued its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.10). Rayonier had a return on equity of 3.29% and a net margin of 30.09%. The firm had revenue of $82.90 million during the quarter, compared to the consensus estimate of $152.99 million. During the same period in the previous year, the company posted $0.01 earnings per share. The company’s revenue for the quarter was down 27.1% on a year-over-year basis. Research analysts anticipate that Rayonier Inc. will post 0.55 EPS for the current fiscal year.

Rayonier Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date of this dividend was Monday, June 16th. Rayonier’s dividend payout ratio is currently 46.78%.

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.