Crossmark Global Holdings Inc. Sells 5,437 Shares of Rayonier Inc. (NYSE:RYN)

Crossmark Global Holdings Inc. decreased its stake in Rayonier Inc. (NYSE:RYN) by 1.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 290,785 shares of the real estate investment trust’s stock after selling 5,437 shares during the period. Crossmark Global Holdings Inc.’s holdings in Rayonier were worth $7,590,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in Rayonier by 148.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 120,462 shares of the real estate investment trust’s stock worth $3,504,000 after buying an additional 71,961 shares in the last quarter. Amalgamated Bank grew its position in shares of Rayonier by 6.2% during the second quarter. Amalgamated Bank now owns 79,938 shares of the real estate investment trust’s stock worth $2,325,000 after purchasing an additional 4,699 shares in the last quarter. Intech Investment Management LLC bought a new stake in Rayonier during the 2nd quarter valued at approximately $791,000. Benjamin F. Edwards & Company Inc. lifted its holdings in Rayonier by 1.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 28,472 shares of the real estate investment trust’s stock worth $828,000 after purchasing an additional 368 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in Rayonier by 1.3% in the 2nd quarter. Sei Investments Co. now owns 30,341 shares of the real estate investment trust’s stock worth $883,000 after purchasing an additional 391 shares during the period. Institutional investors own 89.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on RYN. Citigroup reduced 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 decreased their price target 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. Finally, StockNews.com upgraded Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Four research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $29.67.

Rayonier Stock Up 0.8 %

Shares of RYN opened at $26.74 on Wednesday. The firm has a market capitalization of $3.98 billion, a P/E ratio of 25.22 and a beta of 1.04. Rayonier Inc. has a 12-month low of $24.88 and a 12-month high of $35.29. The firm has a fifty day moving average price of $28.35 and a 200-day moving average price of $29.85. The company has a current ratio of 1.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.71.

Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). Rayonier had a net margin of 15.84% and a return on equity of 2.95%. The firm had revenue of $195.00 million during the quarter, compared to analysts’ expectations of $211.21 million. During the same quarter in the previous year, the firm posted $0.13 EPS. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. Equities research analysts expect that Rayonier Inc. will post 0.38 earnings per share for the current year.

Rayonier Increases Dividend

The firm also recently disclosed a special dividend, which will be paid on Thursday, January 30th. Investors of record on Thursday, December 12th will be paid a $1.80 dividend. This is an increase from Rayonier’s previous special dividend of $0.20. Rayonier’s payout ratio is 107.55%.

Rayonier declared that its board has initiated a stock buyback plan on Monday, December 2nd that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to reacquire up to 6.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

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.