Cullen Capital Management LLC Decreases Holdings in Rayonier Inc. (NYSE:RYN)

Cullen Capital Management LLC cut its stake in Rayonier Inc. (NYSE:RYN) by 20.4% during the 4th quarter, HoldingsChannel reports. The firm owned 8,523 shares of the real estate investment trust’s stock after selling 2,190 shares during the quarter. Cullen Capital Management LLC’s holdings in Rayonier were worth $222,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Rayonier by 119.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 457,370 shares of the real estate investment trust’s stock valued at $14,718,000 after buying an additional 249,173 shares during the period. Walleye Capital LLC purchased a new stake in shares of Rayonier during the third quarter valued at approximately $435,000. Quantinno Capital Management LP acquired a new position in shares of Rayonier during the third quarter worth $285,000. Stifel Financial Corp boosted its stake in shares of Rayonier by 209.6% in the third quarter. Stifel Financial Corp now owns 57,289 shares of the real estate investment trust’s stock valued at $1,843,000 after purchasing an additional 38,783 shares during the period. Finally, State Street Corp grew its holdings in Rayonier by 2.5% during the 3rd quarter. State Street Corp now owns 4,279,512 shares of the real estate investment trust’s stock valued at $137,715,000 after purchasing an additional 104,464 shares in the last quarter. Institutional investors and hedge funds own 89.12% of the company’s stock.

Analyst Ratings Changes

RYN has been the topic of a number of recent analyst reports. Truist Financial cut their price objective on shares of Rayonier from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Monday, January 6th. Citigroup reduced their price target on Rayonier from $32.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. StockNews.com upgraded Rayonier from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Royal Bank of Canada reduced their target price on Rayonier from $33.00 to $30.00 and set a “sector perform” rating for the company in a research note on Friday, February 7th. Finally, Raymond James upgraded 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. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $29.00.

Rayonier Trading Down 7.0 %

Shares of NYSE RYN opened at $25.02 on Friday. The stock has a market capitalization of $3.90 billion, a P/E ratio of 10.60 and a beta of 0.97. The stock’s 50 day moving average price is $26.73 and its two-hundred day moving average price is $28.65. The company has a quick ratio of 1.85, a current ratio of 1.12 and a debt-to-equity ratio of 0.61. Rayonier Inc. has a 52-week low of $24.88 and a 52-week high of $31.29.

Rayonier (NYSE:RYN) last announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate 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 anticipate that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.

Rayonier Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a dividend of $0.2725 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.09 annualized dividend and a yield of 4.36%. Rayonier’s dividend payout ratio (DPR) is 46.19%.

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.