Rayonier Inc. (NYSE:RYN) Shares Sold by Acas LLC

Acas LLC reduced its stake in Rayonier Inc. (NYSE:RYN) by 33.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,334 shares of the real estate investment trust’s stock after selling 15,116 shares during the period. Rayonier accounts for about 1.2% of Acas LLC’s investment portfolio, making the stock its 27th biggest holding. Acas LLC’s holdings in Rayonier were worth $1,013,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RYN. Millburn Ridgefield Corp acquired a new position in Rayonier in the third quarter valued at approximately $26,000. Fifth Third Bancorp boosted its position in shares of Rayonier by 84.7% during the third quarter. Fifth Third Bancorp now owns 1,919 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 880 shares during the period. Signaturefd LLC boosted its position in shares of Rayonier by 371.7% during the fourth quarter. Signaturefd LLC now owns 2,052 shares of the real estate investment trust’s stock worth $69,000 after buying an additional 1,617 shares during the period. Laurion Capital Management LP bought a new position in shares of Rayonier in the third quarter valued at $220,000. Finally, Mackenzie Financial Corp bought a new position in shares of Rayonier in the third quarter valued at $227,000. 89.12% of the stock is currently owned by institutional investors and hedge funds.

Rayonier Trading Down 0.8 %

Shares of RYN stock traded down $0.23 on Thursday, reaching $30.05. 49,051 shares of the stock were exchanged, compared to its average volume of 610,160. The stock has a market cap of $4.47 billion, a PE ratio of 25.85 and a beta of 1.07. Rayonier Inc. has a one year low of $24.84 and a one year high of $35.29. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.26 and a quick ratio of 2.04. The stock has a 50 day moving average price of $32.86 and a 200 day moving average price of $31.38.

Rayonier (NYSE:RYN) last released its quarterly earnings data on Wednesday, January 31st. The real estate investment trust reported $0.17 EPS for the quarter, meeting analysts’ consensus estimates of $0.17. The business had revenue of $467.40 million during the quarter, compared to the consensus estimate of $235.94 million. Rayonier had a return on equity of 2.89% and a net margin of 16.41%. During the same quarter in the prior year, the company posted $0.11 earnings per share. Equities research analysts forecast that Rayonier Inc. will post 0.48 EPS for the current fiscal year.

Rayonier Dividend Announcement

The firm also recently announced 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 was Wednesday, March 13th. This represents a $1.14 dividend on an annualized basis and a yield of 3.79%. Rayonier’s payout ratio is 97.44%.

Wall Street Analysts Forecast Growth

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

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.