Massachusetts Financial Services Co. MA Has $88.03 Million Stake in Rayonier Inc. (NYSE:RYN)

Massachusetts Financial Services Co. MA grew its stake in shares of Rayonier Inc. (NYSE:RYN) by 0.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,372,817 shares of the real estate investment trust’s stock after purchasing an additional 20,126 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Rayonier were worth $88,031,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Harvest Fund Management Co. Ltd acquired a new position in Rayonier in the 4th quarter valued at approximately $25,000. UMB Bank n.a. raised its stake in shares of 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 valued at $37,000 after purchasing an additional 525 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its position in Rayonier by 264.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,677 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 1,217 shares during the period. GAMMA Investing LLC boosted its stake in Rayonier by 41.8% during the fourth quarter. GAMMA Investing LLC now owns 1,733 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 511 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its stake in shares of Rayonier by 36.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 3,186 shares of the real estate investment trust’s stock valued at $83,000 after buying an additional 857 shares in the last quarter. Institutional investors own 89.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on RYN shares. Citigroup lowered their target price on shares of Rayonier from $32.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. StockNews.com raised Rayonier from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Royal Bank of Canada decreased their price target on Rayonier from $33.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Friday, February 7th. Raymond James raised Rayonier from a “market perform” rating to an “outperform” rating and set a $31.00 price objective for the company in a report on Wednesday, March 12th. Finally, Truist Financial dropped their target price on shares of Rayonier from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Rayonier has an average rating of “Hold” and an average target price of $29.00.

Rayonier Price Performance

Rayonier stock opened at $25.02 on Friday. The business’s fifty day moving average is $26.73 and its two-hundred day moving average is $28.67. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.85 and a current ratio of 1.12. The firm has a market cap of $3.91 billion, a P/E ratio of 10.60 and a beta of 1.00. Rayonier Inc. has a 52 week low of $24.88 and a 52 week high of $31.29.

Rayonier (NYSE:RYN) last issued its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.08. Rayonier had a net margin of 28.44% and a return on equity of 3.86%. Equities research analysts forecast that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.

Rayonier Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a $0.2725 dividend. This represents a $1.09 annualized dividend and a yield of 4.36%. The ex-dividend date was Monday, March 17th. Rayonier’s dividend payout ratio (DPR) is presently 46.19%.

About Rayonier

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.