Jamison Private Wealth Management Inc. Sells 882 Shares of Rayonier Inc. (NYSE:RYN)

Jamison Private Wealth Management Inc. reduced its stake in Rayonier Inc. (NYSE:RYN) by 7.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,437 shares of the real estate investment trust’s stock after selling 882 shares during the period. Jamison Private Wealth Management Inc.’s holdings in Rayonier were worth $349,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in RYN. Norges Bank purchased a new stake in shares of Rayonier in the fourth quarter valued at about $376,137,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new stake in shares of Rayonier during the 2nd quarter valued at about $29,914,000. Victory Capital Management Inc. grew its position in Rayonier by 18.2% in the fourth quarter. Victory Capital Management Inc. now owns 3,390,520 shares of the real estate investment trust’s stock worth $111,752,000 after acquiring an additional 522,801 shares in the last quarter. Vanguard Group Inc. raised its position in Rayonier by 2.0% during the third quarter. Vanguard Group Inc. now owns 21,486,063 shares of the real estate investment trust’s stock valued at $643,938,000 after purchasing an additional 418,687 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Rayonier by 33.5% during the 2nd quarter. Northern Trust Corp now owns 1,518,159 shares of the real estate investment trust’s stock valued at $47,670,000 after buying an additional 380,839 shares in the last quarter. 89.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. TheStreet upgraded shares of Rayonier from a “c+” rating to a “b-” rating in a report on Friday, February 16th. Royal Bank of Canada lifted their price target on Rayonier from $34.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Friday, February 2nd. StockNews.com raised shares of Rayonier from a “sell” rating to a “hold” rating in a research report on Monday, February 26th. Finally, Truist Financial upped their price objective on shares of Rayonier from $33.00 to $34.00 and gave the company a “hold” rating in a research note on Thursday, January 4th. Four research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $35.00.

Rayonier Stock Performance

RYN traded up $0.11 during midday trading on Tuesday, hitting $33.33. 307,558 shares of the company traded hands, compared to its average volume of 674,415. The firm has a market capitalization of $4.95 billion, a PE ratio of 28.40 and a beta of 1.08. Rayonier Inc. has a 52 week low of $24.84 and a 52 week high of $35.29. The company has a quick ratio of 2.04, a current ratio of 2.26 and a debt-to-equity ratio of 0.73. The company’s 50-day moving average is $32.96 and its 200 day moving average is $30.96.

Rayonier (NYSE:RYN) last released its quarterly earnings data on Wednesday, January 31st. The real estate investment trust reported $0.17 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.17. The firm had revenue of $467.40 million during the quarter, compared to analyst estimates of $235.94 million. Rayonier had a return on equity of 2.89% and a net margin of 16.41%. During the same quarter in the prior year, the company posted $0.11 earnings per share. On average, research analysts expect that Rayonier Inc. will post 0.48 EPS for the current year.

Rayonier Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Thursday, March 14th will be issued a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, March 13th. This represents a $1.14 annualized dividend and a yield of 3.42%. Rayonier’s payout ratio is presently 97.44%.

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 September 30, 2023, Rayonier owned or leased under long-term agreements approximately 2.8 million acres of timberlands located in the U.S.