Greenleaf Trust cut its holdings in Rayonier Inc. (NYSE:RYN – Free Report) by 5.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,312 shares of the real estate investment trust’s stock after selling 336 shares during the quarter. Greenleaf Trust’s holdings in Rayonier were worth $210,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of RYN. Norges Bank acquired a new stake in shares of Rayonier in the fourth quarter valued at approximately $376,137,000. Impax Asset Management Group plc lifted its stake in shares of Rayonier by 15.1% during the fourth quarter. Impax Asset Management Group plc now owns 5,487,702 shares of the real estate investment trust’s stock valued at $180,135,000 after buying an additional 721,081 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Rayonier by 18.2% during the fourth quarter. Victory Capital Management Inc. now owns 3,390,520 shares of the real estate investment trust’s stock valued at $111,752,000 after buying an additional 522,801 shares during the period. Vanguard Group Inc. lifted its stake in shares of Rayonier by 2.0% during the third quarter. Vanguard Group Inc. now owns 21,486,063 shares of the real estate investment trust’s stock valued at $643,938,000 after buying an additional 418,687 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Rayonier by 31.3% during the first quarter. Northern Trust Corp now owns 1,450,004 shares of the real estate investment trust’s stock valued at $59,624,000 after buying an additional 345,821 shares during the period. 82.75% of the stock is currently owned by institutional investors and hedge funds.
Rayonier Stock Performance
NYSE:RYN opened at $30.19 on Tuesday. The company has a quick ratio of 1.61, a current ratio of 1.92 and a debt-to-equity ratio of 0.82. The company has a market cap of $4.48 billion, a P/E ratio of 54.89 and a beta of 0.99. Rayonier Inc. has a fifty-two week low of $27.81 and a fifty-two week high of $37.79. The firm’s 50 day moving average is $31.25 and its two-hundred day moving average is $31.63.
Rayonier Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date is Thursday, September 14th. Rayonier’s dividend payout ratio is presently 207.27%.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on RYN. 51job reissued a “reiterates” rating on shares of Rayonier in a research note on Wednesday, June 28th. Truist Financial assumed coverage on shares of Rayonier in a research note on Monday, May 15th. They set a “hold” rating and a $33.00 price objective on the stock. StockNews.com downgraded shares of Rayonier from a “hold” rating to a “sell” rating in a research note on Friday. Finally, TheStreet downgraded shares of Rayonier from a “b-” rating to a “c+” rating in a research note on Thursday, May 11th. One equities research analyst has rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $34.50.
Check Out Our Latest Analysis on Rayonier
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 June 30, 2023, Rayonier owned or leased under long-term agreements approximately 2.8 million acres of timberlands located in the U.S.
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