Horizon Kinetics Asset Management LLC Sells 5,277 Shares of Rayonier Inc. (NYSE:RYN)

Horizon Kinetics Asset Management LLC reduced its stake in shares of Rayonier Inc. (NYSE:RYN) by 8.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 55,367 shares of the real estate investment trust’s stock after selling 5,277 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in Rayonier were worth $1,445,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of RYN. Massachusetts Financial Services Co. MA lifted its holdings in Rayonier by 26.2% in the third 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 buying an additional 695,810 shares during the period. 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. Firetrail Investments PTY Ltd. lifted its holdings in Rayonier by 56.1% in the fourth quarter. Firetrail Investments PTY Ltd. now owns 384,490 shares of the real estate investment trust’s stock valued at $10,072,000 after buying an additional 138,203 shares during the period. Global Alpha Capital Management Ltd. lifted its holdings in Rayonier by 11.3% in the fourth quarter. Global Alpha Capital Management Ltd. now owns 1,150,927 shares of the real estate investment trust’s stock valued at $30,039,000 after buying an additional 116,800 shares during the period. Finally, State Street Corp lifted its holdings 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 valued at $137,715,000 after buying an additional 104,464 shares during the period. 89.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Rayonier Stock Down 0.3 %

Shares of RYN stock opened at $27.86 on Tuesday. The firm has a fifty day moving average of $26.28 and a 200-day moving average of $28.97. The company has a quick ratio of 1.85, a current ratio of 1.12 and a debt-to-equity ratio of 0.61. Rayonier Inc. has a 12-month low of $24.88 and a 12-month high of $32.05. The company has a market capitalization of $4.35 billion, a price-to-earnings ratio of 11.80 and a beta of 1.00.

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

Rayonier Cuts Dividend

The firm also recently announced 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. This represents a $1.09 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date of this dividend is Monday, March 17th. Rayonier’s dividend payout ratio (DPR) is currently 46.19%.

Rayonier declared that its board has authorized a share repurchase plan on Monday, December 2nd that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the real estate investment trust to reacquire up to 6.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Rayonier 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.