Brown Lisle Cummings Inc. increased its holdings in shares of Rayonier Inc. (NYSE:RYN – Free Report) by 17.3% during the fourth quarter, Holdings Channel reports. The fund owned 9,824 shares of the real estate investment trust’s stock after purchasing an additional 1,452 shares during the period. Brown Lisle Cummings Inc.’s holdings in Rayonier were worth $256,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in shares of Rayonier during the third quarter worth $25,000. Venturi Wealth Management LLC raised its position in shares of Rayonier by 165.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,079 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 672 shares during the period. UMB Bank n.a. raised its holdings in Rayonier by 59.7% in the fourth quarter. UMB Bank n.a. now owns 1,404 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 525 shares during the period. Blue Trust Inc. raised its stake in Rayonier by 539.9% during the 3rd quarter. Blue Trust Inc. now owns 1,235 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 1,042 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Rayonier by 41.8% during the 4th quarter. GAMMA Investing LLC now owns 1,733 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 511 shares in the last quarter. 89.12% of the stock is owned by institutional investors and hedge funds.
Rayonier Stock Performance
NYSE:RYN opened at $25.73 on Wednesday. The company has a current ratio of 1.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.71. The stock has a 50 day simple moving average of $27.51 and a 200 day simple moving average of $29.68. Rayonier Inc. has a 1-year low of $24.88 and a 1-year high of $35.29. The stock has a market cap of $3.83 billion, a P/E ratio of 24.27 and a beta of 1.03.
Rayonier declared that its board has approved a stock repurchase plan on Monday, December 2nd that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to purchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
Rayonier Increases Dividend
The business also recently announced a special dividend, which was paid on Thursday, January 30th. Stockholders of record on Thursday, December 12th were issued a dividend of $1.80 per share. This is a positive change from Rayonier’s previous special dividend of $0.20. Rayonier’s dividend payout ratio is 107.55%.
Analysts Set New Price Targets
Several equities research analysts recently commented on the stock. Citigroup cut their price objective on shares of Rayonier from $32.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. StockNews.com raised Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Finally, Truist Financial reduced their price target on Rayonier from $32.00 to $30.00 and set a “hold” rating for the company in a report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $29.67.
Read Our Latest Stock Analysis on Rayonier
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.
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