Xcel Wealth Management LLC Has $562,000 Holdings in Rayonier Inc. (NYSE:RYN)

Xcel Wealth Management LLC decreased its holdings in Rayonier Inc. (NYSE:RYN) by 6.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 21,550 shares of the real estate investment trust’s stock after selling 1,500 shares during the period. Xcel Wealth Management LLC’s holdings in Rayonier were worth $562,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of RYN. Blue Trust Inc. grew its stake in shares of Rayonier by 539.9% in the third quarter. Blue Trust Inc. now owns 1,235 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 1,042 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Rayonier by 53.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,999 shares of the real estate investment trust’s stock worth $97,000 after acquiring an additional 1,047 shares during the last quarter. International Assets Investment Management LLC increased its stake in Rayonier by 3,118.0% in the 3rd quarter. International Assets Investment Management LLC now owns 16,991 shares of the real estate investment trust’s stock valued at $528,000 after buying an additional 16,463 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in Rayonier in the 3rd quarter valued at about $75,000. Finally, Covestor Ltd increased its stake in shares of Rayonier by 135.7% during the 3rd quarter. Covestor Ltd now owns 1,782 shares of the real estate investment trust’s stock worth $57,000 after purchasing an additional 1,026 shares during the last quarter. Institutional investors own 89.12% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on RYN shares. StockNews.com upgraded shares of Rayonier from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Truist Financial cut their price target on shares of Rayonier from $32.00 to $30.00 and set a “hold” rating for the company in a report on Monday, January 6th. 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 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 report on Wednesday, January 15th.

Rayonier Price Performance

Shares of RYN opened at $26.41 on Friday. The firm’s 50-day simple moving average is $26.04 and its two-hundred day simple moving average is $29.17. Rayonier Inc. has a fifty-two week low of $24.88 and a fifty-two week high of $35.29. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.85 and a current ratio of 1.12. The stock has a market cap of $4.12 billion, a PE ratio of 11.19 and a beta of 1.03.

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

Rayonier Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.2725 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.09 annualized dividend and a dividend yield of 4.13%. Rayonier’s payout ratio is 46.19%.

Rayonier declared that its board has authorized a stock buyback plan 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 purchase up to 6.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

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.