Bfsg LLC Sells 1,530 Shares of Rayonier Inc. (NYSE:RYN)

Bfsg LLC decreased its stake in shares of Rayonier Inc. (NYSE:RYN) by 2.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,289 shares of the real estate investment trust’s stock after selling 1,530 shares during the quarter. Bfsg LLC’s holdings in Rayonier were worth $2,449,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue raised its holdings in shares of Rayonier by 13.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 86,448 shares of the real estate investment trust’s stock valued at $2,459,000 after purchasing an additional 9,942 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Rayonier by 3.7% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 18,845 shares of the real estate investment trust’s stock worth $536,000 after buying an additional 671 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of Rayonier by 85.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 130,000 shares of the real estate investment trust’s stock worth $3,700,000 after buying an additional 60,000 shares during the last quarter. Raymond James & Associates grew its position in shares of Rayonier by 1.1% in the 3rd quarter. Raymond James & Associates now owns 60,135 shares of the real estate investment trust’s stock worth $1,711,000 after buying an additional 660 shares during the last quarter. Finally, Acas LLC purchased a new stake in Rayonier during the 3rd quarter worth approximately $1,294,000. Institutional investors own 89.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. StockNews.com raised shares of Rayonier from a “sell” rating to a “hold” rating in a research report on Monday, February 26th. TheStreet upgraded shares of Rayonier from a “c+” rating to a “b-” rating in a research report on Friday, February 16th. Royal Bank of Canada upped their target price on shares of Rayonier from $34.00 to $35.00 and gave the stock a “sector perform” rating in a report on Friday, February 2nd. Finally, Truist Financial upped their target price on shares of Rayonier from $33.00 to $34.00 and gave the stock a “hold” rating in a report on Thursday, January 4th. Three investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $34.50.

Rayonier Stock Down 0.9 %

NYSE:RYN traded down $0.28 during mid-day trading on Thursday, hitting $30.00. The stock had a trading volume of 69,548 shares, compared to its average volume of 610,492. The stock has a 50-day simple moving average of $32.86 and a two-hundred day simple moving average of $31.38. The company has a market capitalization of $4.46 billion, a PE ratio of 25.85 and a beta of 1.07. Rayonier Inc. has a twelve month low of $24.84 and a twelve month high of $35.29. The company has a current ratio of 2.26, a quick ratio of 2.04 and a debt-to-equity ratio of 0.73.

Rayonier (NYSE:RYN) last issued its earnings results on Wednesday, January 31st. The real estate investment trust reported $0.17 earnings per share for the quarter, meeting the consensus estimate of $0.17. The firm had revenue of $467.40 million for the quarter, compared to analysts’ expectations of $235.94 million. Rayonier had a net margin of 16.41% and a return on equity of 2.89%. During the same quarter last year, the company earned $0.11 earnings per share. On average, equities research analysts anticipate that Rayonier Inc. will post 0.48 EPS for the current year.

Rayonier Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a $0.285 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.14 annualized dividend and a yield of 3.80%. Rayonier’s dividend payout ratio is currently 97.44%.

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.