Kestra Investment Management LLC Sells 3,117 Shares of Rayonier Inc. (NYSE:RYN)

Kestra Investment Management LLC lessened its holdings in Rayonier Inc. (NYSE:RYN) by 35.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 5,797 shares of the real estate investment trust’s stock after selling 3,117 shares during the period. Kestra Investment Management LLC’s holdings in Rayonier were worth $151,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. 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 buying an additional 672 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of 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 acquiring an additional 1,042 shares in the last quarter. UMB Bank n.a. increased its position in shares of Rayonier by 59.7% in the fourth quarter. UMB Bank n.a. now owns 1,404 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 525 shares during the last quarter. GAMMA Investing LLC raised its holdings in Rayonier by 41.8% during the fourth quarter. GAMMA Investing LLC now owns 1,733 shares of the real estate investment trust’s stock worth $45,000 after acquiring an additional 511 shares in the last quarter. Finally, Covestor Ltd boosted its position in Rayonier by 135.7% during the third quarter. Covestor Ltd now owns 1,782 shares of the real estate investment trust’s stock valued at $57,000 after purchasing an additional 1,026 shares during 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 several recent analyst reports. Royal Bank of Canada lowered their price target on Rayonier from $33.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Friday, February 7th. StockNews.com upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Citigroup cut their price target on shares of Rayonier from $32.00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Finally, Truist Financial lowered their price objective 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.

Rayonier Trading Up 1.5 %

Shares of RYN stock opened at $26.13 on Friday. The stock has a market cap of $3.89 billion, a P/E ratio of 11.07 and a beta of 1.03. Rayonier Inc. has a 1 year low of $24.88 and a 1 year high of $35.29. The company has a current ratio of 1.12, a quick ratio of 1.85 and a debt-to-equity ratio of 0.61. The stock has a 50 day simple moving average of $26.18 and a 200 day simple moving average of $29.33.

Rayonier (NYSE:RYN) last released its earnings results 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, research analysts predict that Rayonier Inc. will post 0.58 earnings per share for the current fiscal year.

Rayonier declared that its Board of Directors has initiated a share repurchase plan on Monday, December 2nd that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Rayonier Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a $0.2725 dividend. This represents a $1.09 annualized dividend and a dividend yield of 4.17%. The ex-dividend date is Monday, March 17th. Rayonier’s payout ratio is presently 48.31%.

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.