New Age Alpha Advisors LLC Takes $325,000 Position in Rayonier Inc. (NYSE:RYN)

New Age Alpha Advisors LLC purchased a new position in shares of Rayonier Inc. (NYSE:RYN) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,459 shares of the real estate investment trust’s stock, valued at approximately $325,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Rayonier in the fourth quarter valued at about $343,007,000. WINTON GROUP Ltd increased its stake in Rayonier by 5.5% in the 4th quarter. WINTON GROUP Ltd now owns 112,914 shares of the real estate investment trust’s stock valued at $2,947,000 after buying an additional 5,873 shares during the last quarter. Mountain Hill Investment Partners Corp. bought a new position in shares of Rayonier during the 4th quarter worth approximately $261,000. KLP Kapitalforvaltning AS purchased a new position in shares of Rayonier in the 4th quarter worth approximately $731,000. Finally, Virtu Financial LLC bought a new position in shares of Rayonier in the fourth quarter valued at approximately $226,000. 89.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. StockNews.com raised Rayonier from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Raymond James upgraded shares of Rayonier from a “market perform” rating to an “outperform” rating and set a $31.00 price target for the company in a research report on Wednesday, March 12th. Citigroup lowered their price objective on shares of Rayonier from $32.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Truist Financial lowered their price target 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. Finally, Royal Bank of Canada decreased 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. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $29.00.

Rayonier Stock Up 0.4 %

RYN opened at $28.01 on Wednesday. Rayonier Inc. has a 12 month low of $24.88 and a 12 month high of $31.29. The company has a market cap of $4.37 billion, a PE ratio of 11.87 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 company has a 50 day moving average of $26.71 and a 200 day moving average of $28.74.

Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.08. Rayonier had a return on equity of 3.86% and a net margin of 28.44%. On average, sell-side analysts expect that Rayonier Inc. will post 0.55 EPS for the current year.

Rayonier Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date was Monday, March 17th. Rayonier’s payout ratio is 46.19%.

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.