Acas LLC Sells 1,587 Shares of Rayonier Inc. (NYSE:RYN)

Acas LLC decreased its holdings in shares of Rayonier Inc. (NYSE:RYN) by 7.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,861 shares of the real estate investment trust’s stock after selling 1,587 shares during the quarter. Acas LLC’s holdings in Rayonier were worth $511,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Inceptionr LLC raised its position in shares of Rayonier by 61.7% during the 4th quarter. Inceptionr LLC now owns 16,569 shares of the real estate investment trust’s stock valued at $432,000 after buying an additional 6,323 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Rayonier during the fourth quarter worth about $1,455,000. Proficio Capital Partners LLC purchased a new position in shares of Rayonier in the 4th quarter worth about $648,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Rayonier by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,488,802 shares of the real estate investment trust’s stock valued at $64,958,000 after buying an additional 46,956 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its stake 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 buying an additional 1,217 shares in the last quarter. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Analysts Set New Price Targets

RYN has been the subject of a number of recent research reports. Royal Bank of Canada lowered their price objective on shares of Rayonier from $33.00 to $30.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. StockNews.com raised Rayonier from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Citigroup lowered their target price on Rayonier from $32.00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Finally, Truist Financial reduced their price target on Rayonier from $32.00 to $30.00 and set a “hold” rating on the stock in a research report on Monday, January 6th.

Rayonier Stock Performance

Rayonier stock opened at $26.86 on Friday. Rayonier Inc. has a 1-year low of $24.88 and a 1-year high of $33.50. The firm has a market cap of $4.19 billion, a P/E ratio of 11.38 and a beta of 1.00. 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 firm has a 50-day moving average of $26.09 and a 200-day moving average of $29.13.

Rayonier (NYSE:RYN) last announced its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.27 EPS for the quarter, beating 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%. Sell-side analysts expect that Rayonier Inc. will post 0.55 EPS for the current year.

Rayonier Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a dividend of $0.2725 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.09 annualized dividend and a yield of 4.06%. Rayonier’s payout ratio is 46.19%.

Rayonier declared that its board has approved a share buyback plan on Monday, December 2nd that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the real estate investment trust to buy up to 6.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership 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.