Rayonier Inc. (NYSE:RYN) Shares Sold by Cullen Capital Management LLC

Cullen Capital Management LLC trimmed its holdings in Rayonier Inc. (NYSE:RYN) by 20.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,523 shares of the real estate investment trust’s stock after selling 2,190 shares during the period. Cullen Capital Management LLC’s holdings in Rayonier were worth $222,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in RYN. Harvest Fund Management Co. Ltd acquired a new stake in shares of Rayonier in the fourth quarter valued at approximately $25,000. UMB Bank n.a. grew its holdings in Rayonier by 59.7% during the 4th quarter. UMB Bank n.a. now owns 1,404 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 525 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in Rayonier by 264.6% during 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. GAMMA Investing LLC raised its holdings in shares of Rayonier by 41.8% in the fourth quarter. GAMMA Investing LLC now owns 1,733 shares of the real estate investment trust’s stock worth $45,000 after acquiring an additional 511 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in shares of Rayonier by 36.8% in the fourth 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 in the last quarter. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RYN has been the subject of several analyst reports. Raymond James raised shares of Rayonier from a “market perform” rating to an “outperform” rating and set a $31.00 target price for the company in a research note on Wednesday, March 12th. Truist Financial reduced their price objective on shares of Rayonier from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Monday, January 6th. Royal Bank of Canada lowered their target price on shares of Rayonier from $33.00 to $30.00 and set a “sector perform” rating for the company in a research note on Friday, February 7th. Citigroup reduced their price target on Rayonier from $32.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Finally, StockNews.com raised Rayonier from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $29.00.

Rayonier Stock Performance

Shares of RYN stock opened at $25.02 on Friday. The firm has a market capitalization of $3.90 billion, a price-to-earnings ratio of 10.60 and a beta of 0.97. The company has a 50 day moving average price of $26.73 and a 200 day moving average price of $28.65. Rayonier Inc. has a one year low of $24.88 and a one year high of $31.29. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.85 and a current ratio of 1.12.

Rayonier (NYSE:RYN) last released 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%. Sell-side analysts anticipate that Rayonier Inc. will post 0.55 EPS for the current 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 paid a $0.2725 dividend. This represents a $1.09 annualized dividend and a dividend yield of 4.36%. The ex-dividend date was Monday, March 17th. Rayonier’s dividend payout ratio is currently 46.19%.

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.