Bfsg LLC Lowers Holdings in Rayonier Inc. (NYSE:RYN)

Bfsg LLC trimmed its position in Rayonier Inc. (NYSE:RYN) by 2.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 73,289 shares of the real estate investment trust’s stock after selling 1,530 shares during the quarter. Bfsg LLC’s holdings in Rayonier were worth $2,449,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Millburn Ridgefield Corp acquired a new stake in Rayonier in the third quarter valued at approximately $26,000. Fifth Third Bancorp grew its stake in shares of Rayonier by 84.7% in the third quarter. Fifth Third Bancorp now owns 1,919 shares of the real estate investment trust’s stock valued at $55,000 after buying an additional 880 shares in the last quarter. Signaturefd LLC grew its stake in Rayonier by 371.7% during the 4th quarter. Signaturefd LLC now owns 2,052 shares of the real estate investment trust’s stock worth $69,000 after purchasing an additional 1,617 shares in the last quarter. Laurion Capital Management LP purchased a new stake in Rayonier during the 3rd quarter worth about $220,000. Finally, Mackenzie Financial Corp purchased a new stake in Rayonier during the 3rd quarter worth about $227,000. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

Rayonier Trading Down 0.9 %

Shares of RYN traded down $0.28 during trading hours on Thursday, hitting $30.00. The stock had a trading volume of 69,548 shares, compared to its average volume of 610,492. The company has a debt-to-equity ratio of 0.73, a quick ratio of 2.04 and a current ratio of 2.26. The firm has a market cap of $4.46 billion, a P/E ratio of 25.85 and a beta of 1.07. The company’s fifty day simple moving average is $32.86 and its 200 day simple moving average is $31.38. Rayonier Inc. has a 12-month low of $24.84 and a 12-month high of $35.29.

Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. Rayonier had a return on equity of 2.89% and a net margin of 16.41%. The firm had revenue of $467.40 million during the quarter, compared to the consensus estimate of $235.94 million. During the same period in the prior year, the firm earned $0.11 EPS. Equities research analysts forecast that Rayonier Inc. will post 0.48 EPS for the current fiscal year.

Rayonier Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a dividend of $0.285 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.14 annualized dividend and a dividend yield of 3.80%. Rayonier’s dividend payout ratio is presently 97.44%.

Analysts Set New Price Targets

RYN has been the subject of several analyst reports. TheStreet raised Rayonier from a “c+” rating to a “b-” rating in a research note on Friday, February 16th. Royal Bank of Canada boosted their target price on Rayonier from $34.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Truist Financial upped their price target on Rayonier from $33.00 to $34.00 and gave the stock a “hold” rating in a report on Thursday, January 4th. Finally, StockNews.com raised Rayonier from a “sell” rating to a “hold” rating in a research note on Monday, February 26th. Three investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Rayonier presently has an average rating of “Hold” and a consensus target price of $34.50.

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.