Rayonier Inc. (NYSE:RYN) Position Increased by Global Alpha Capital Management Ltd.

Global Alpha Capital Management Ltd. increased its stake in shares of Rayonier Inc. (NYSE:RYN) by 11.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,150,927 shares of the real estate investment trust’s stock after buying an additional 116,800 shares during the quarter. Rayonier comprises approximately 2.2% of Global Alpha Capital Management Ltd.’s holdings, making the stock its 22nd largest position. Global Alpha Capital Management Ltd.’s holdings in Rayonier were worth $30,039,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Vestcor Inc acquired a new stake in shares of Rayonier in the third quarter valued at approximately $1,749,000. Stifel Financial Corp increased its position in Rayonier by 209.6% in the 3rd quarter. Stifel Financial Corp now owns 57,289 shares of the real estate investment trust’s stock valued at $1,843,000 after acquiring an additional 38,783 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in 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 acquiring an additional 249,173 shares in the last quarter. Oak Thistle LLC acquired a new position in Rayonier during the 4th quarter worth $467,000. Finally, State Street Corp grew its stake in shares of Rayonier by 2.5% in the third quarter. State Street Corp now owns 4,279,512 shares of the real estate investment trust’s stock worth $137,715,000 after purchasing an additional 104,464 shares in the last quarter. 89.12% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on RYN. 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 research note on Monday, January 6th. StockNews.com upgraded shares of Rayonier from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Royal Bank of Canada decreased their price objective on shares of Rayonier from $33.00 to $30.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. Finally, Citigroup lowered their price objective 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.

Rayonier Price Performance

NYSE:RYN opened at $27.31 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 business’s 50-day moving average price is $26.10 and its 200 day moving average price is $29.11. Rayonier Inc. has a 52-week low of $24.88 and a 52-week high of $33.48. The firm has a market cap of $4.26 billion, a P/E ratio of 11.57 and a beta of 1.00.

Rayonier (NYSE:RYN) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.08. Rayonier had a net margin of 28.44% and a return on equity of 3.86%. As a group, sell-side analysts predict that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.

Rayonier Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a $0.2725 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.09 annualized dividend and a yield of 3.99%. Rayonier’s dividend payout ratio (DPR) is 46.19%.

Rayonier announced that its board has authorized a stock repurchase program on Monday, December 2nd that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the real estate investment trust to repurchase up to 6.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

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.