Rayonier Inc. (NYSE:RYN) Shares Sold by Boothbay Fund Management LLC

Boothbay Fund Management LLC lessened its holdings in Rayonier Inc. (NYSE:RYN) by 27.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 202,103 shares of the real estate investment trust’s stock after selling 78,378 shares during the quarter. Boothbay Fund Management LLC owned approximately 0.14% of Rayonier worth $5,275,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Pacer Advisors Inc. grew its stake in Rayonier by 2.3% during the 4th quarter. Pacer Advisors Inc. now owns 19,993 shares of the real estate investment trust’s stock worth $522,000 after buying an additional 442 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Rayonier by 41.8% during the fourth quarter. GAMMA Investing LLC now owns 1,733 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 511 shares during the period. UMB Bank n.a. grew its position in shares of Rayonier by 59.7% during the fourth quarter. UMB Bank n.a. now owns 1,404 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 525 shares during the last quarter. Covestor Ltd grew its position in shares of Rayonier by 30.0% during the fourth quarter. Covestor Ltd now owns 2,317 shares of the real estate investment trust’s stock worth $60,000 after acquiring an additional 535 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of Rayonier by 36.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 3,186 shares of the real estate investment trust’s stock worth $83,000 after acquiring an additional 857 shares during the period. Institutional investors own 89.12% of the company’s stock.

Rayonier Price Performance

NYSE RYN opened at $24.47 on Friday. The company has a quick ratio of 1.85, a current ratio of 1.12 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $3.82 billion, a PE ratio of 10.37 and a beta of 0.97. Rayonier Inc. has a 12-month low of $22.80 and a 12-month high of $31.29. The company has a 50 day moving average price of $26.29 and a two-hundred day moving average price of $27.82.

Rayonier (NYSE:RYN) last issued its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.27 EPS for the quarter, beating 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%. As a group, equities analysts predict that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.

Rayonier Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date of this dividend was Monday, March 17th. Rayonier’s dividend payout ratio (DPR) is presently 46.19%.

Analyst Upgrades and Downgrades

RYN has been the subject of several recent analyst reports. StockNews.com raised Rayonier from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Citigroup lowered their target price on shares of Rayonier from $32.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Raymond James raised shares of Rayonier from a “market perform” rating to an “outperform” rating and set a $31.00 price target for the company in a research note on Wednesday, March 12th. Royal Bank of Canada lowered their price objective on shares of Rayonier from $33.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Friday, February 7th. Finally, Truist Financial cut their target price on Rayonier from $30.00 to $27.00 and set a “hold” rating for the company in a research report on Tuesday, April 22nd. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Rayonier has a consensus rating of “Hold” and a consensus target price of $28.25.

Rayonier 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.