Entropy Technologies LP Cuts Holdings in Rayonier Inc. (NYSE:RYN)

Entropy Technologies LP trimmed its holdings in shares of Rayonier Inc. (NYSE:RYN) by 7.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 9,744 shares of the real estate investment trust’s stock after selling 746 shares during the period. Entropy Technologies LP’s holdings in Rayonier were worth $254,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. V Square Quantitative Management LLC purchased a new position in Rayonier in the 3rd quarter valued at approximately $25,000. Venturi Wealth Management LLC increased its stake in Rayonier by 165.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,079 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 672 shares in the last quarter. UMB Bank n.a. increased its stake in Rayonier by 59.7% in the 4th quarter. UMB Bank n.a. now owns 1,404 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 525 shares in the last quarter. Blue Trust Inc. increased its stake in Rayonier by 539.9% in the 3rd quarter. Blue Trust Inc. now owns 1,235 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 1,042 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Rayonier by 41.8% in the 4th quarter. GAMMA Investing LLC now owns 1,733 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 511 shares in the last quarter. 89.12% of the stock is owned by hedge funds and other institutional investors.

Rayonier Price Performance

Shares of NYSE:RYN opened at $25.44 on Friday. The business’s fifty day moving average price is $26.68 and its two-hundred day moving average price is $29.49. The stock has a market cap of $3.79 billion, a PE ratio of 10.78 and a beta of 1.03. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.85 and a current ratio of 1.12. Rayonier Inc. has a one year low of $24.88 and a one year high of $35.29.

Rayonier (NYSE:RYN) last announced its earnings results 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%. On average, analysts forecast that Rayonier Inc. will post 0.58 EPS for the current fiscal year.

Rayonier announced that its board has initiated a stock repurchase program on Monday, December 2nd that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to buy up to 6.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Rayonier Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a dividend yield of 4.28%. The ex-dividend date of this dividend is Monday, March 17th. Rayonier’s dividend payout ratio (DPR) is 46.19%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on RYN shares. Citigroup dropped their price objective on Rayonier from $32.00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Truist Financial lowered their target price on Rayonier from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Monday, January 6th. StockNews.com upgraded Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Finally, Royal Bank of Canada lowered their target price on Rayonier from $33.00 to $30.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. Four equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $28.33.

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.