Kestra Investment Management LLC Has $151,000 Stake in Rayonier Inc. (NYSE:RYN)

Kestra Investment Management LLC lowered its stake in Rayonier Inc. (NYSE:RYN) by 35.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,797 shares of the real estate investment trust’s stock after selling 3,117 shares during the period. Kestra Investment Management LLC’s holdings in Rayonier were worth $151,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of RYN. State Street Corp increased its position in Rayonier by 2.5% in the third quarter. State Street Corp now owns 4,279,512 shares of the real estate investment trust’s stock worth $137,715,000 after purchasing an additional 104,464 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Rayonier by 26.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,352,691 shares of the real estate investment trust’s stock valued at $107,890,000 after purchasing an additional 695,810 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Rayonier by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,441,846 shares of the real estate investment trust’s stock worth $78,579,000 after buying an additional 7,733 shares during the period. Global Alpha Capital Management Ltd. raised its stake in shares of Rayonier by 2.9% during the third quarter. Global Alpha Capital Management Ltd. now owns 1,034,127 shares of the real estate investment trust’s stock worth $33,278,000 after buying an additional 28,800 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Rayonier by 119.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 457,370 shares of the real estate investment trust’s stock valued at $14,718,000 after buying an additional 249,173 shares during the period. Institutional investors own 89.12% of the company’s stock.

Wall Street Analysts Forecast Growth

RYN has been the topic of several recent research reports. Royal Bank of Canada reduced their price target on Rayonier from $33.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Friday, February 7th. Truist Financial reduced their target price on Rayonier from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Monday, January 6th. StockNews.com raised Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Finally, Citigroup reduced their price objective 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.

Rayonier Stock Up 1.5 %

NYSE:RYN opened at $26.13 on Friday. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of 11.07 and a beta of 1.03. 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 stock has a 50-day moving average price of $26.18 and a two-hundred day moving average price of $29.33. Rayonier Inc. has a 1 year low of $24.88 and a 1 year high of $35.29.

Rayonier (NYSE:RYN) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.27 earnings per share (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 expect that Rayonier Inc. will post 0.58 earnings per share for the current year.

Rayonier Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a $0.2725 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.09 annualized dividend and a yield of 4.17%. Rayonier’s dividend payout ratio is currently 48.31%.

Rayonier announced that its board has initiated a stock buyback 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 reacquire up to 6.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.