Treasurer of the State of North Carolina Raises Holdings in Rayonier Inc. (NYSE:RYN)

Treasurer of the State of North Carolina boosted its holdings in shares of Rayonier Inc. (NYSE:RYN) by 5.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 67,787 shares of the real estate investment trust’s stock after buying an additional 3,240 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Rayonier were worth $1,769,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased its position in shares of Rayonier by 2.3% during the 4th quarter. Pacer Advisors Inc. now owns 19,993 shares of the real estate investment trust’s stock worth $522,000 after purchasing an additional 442 shares during the last quarter. 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 during the period. UMB Bank n.a. increased its position in shares of Rayonier by 59.7% during 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 acquiring an additional 525 shares during the last quarter. 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 acquiring an additional 857 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Rayonier in the 4th quarter worth approximately $25,000. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Rayonier Stock Up 0.7 %

Shares of NYSE RYN opened at $25.25 on Friday. Rayonier Inc. has a 12-month low of $22.80 and a 12-month high of $31.29. The stock has a market cap of $3.94 billion, a P/E ratio of 10.70 and a beta of 0.97. The company has a current ratio of 1.12, a quick ratio of 1.85 and a debt-to-equity ratio of 0.61. The business’s fifty day simple moving average is $26.37 and its 200-day simple moving average is $28.14.

Rayonier (NYSE:RYN) last announced 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 return on equity of 3.86% and a net margin of 28.44%. As a group, equities analysts predict that Rayonier Inc. will post 0.55 EPS for the current fiscal year.

Rayonier Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Citigroup cut their target price on 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 upgraded Rayonier from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Raymond James upgraded Rayonier from a “market perform” rating to an “outperform” rating and set a $31.00 target price for the company in a report on Wednesday, March 12th. Royal Bank of Canada dropped their target price on Rayonier from $33.00 to $30.00 and set a “sector perform” rating for the company in a research report on Friday, February 7th. Finally, Truist Financial reduced their price target on shares of Rayonier from $32.00 to $30.00 and set a “hold” rating on the stock in a research report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Rayonier has a consensus rating of “Hold” and an average target price of $29.00.

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.