Wealthfront Advisers LLC Invests $1.25 Million in Rayonier Inc. (NYSE:RYN)

Wealthfront Advisers LLC purchased a new stake in Rayonier Inc. (NYSE:RYN) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 47,935 shares of the real estate investment trust’s stock, valued at approximately $1,251,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. grew its stake in Rayonier by 2.3% in the 4th quarter. Pacer Advisors Inc. now owns 19,993 shares of the real estate investment trust’s stock valued at $522,000 after acquiring an additional 442 shares during the period. GAMMA Investing LLC grew its stake in Rayonier by 41.8% in the 4th quarter. GAMMA Investing LLC now owns 1,733 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 511 shares during the period. UMB Bank n.a. grew its stake in Rayonier by 59.7% in the 4th 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 period. Venturi Wealth Management LLC grew 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 acquiring an additional 672 shares during the period. Finally, State of New Jersey Common Pension Fund D grew its stake in Rayonier by 1.2% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 65,078 shares of the real estate investment trust’s stock valued at $2,094,000 after acquiring an additional 768 shares during the period. Institutional investors and hedge funds own 89.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Citigroup decreased their price objective on Rayonier from $32.00 to $25.00 and set a “neutral” rating on the stock 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. Raymond James upgraded Rayonier from a “market perform” rating to an “outperform” rating and set a $31.00 price objective on the stock in a report on Wednesday. Royal Bank of Canada decreased their price objective on Rayonier from $33.00 to $30.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. Finally, Truist Financial decreased their price objective on Rayonier from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $29.00.

Rayonier Stock Up 2.5 %

NYSE RYN opened at $27.95 on Friday. The firm has a market cap of $4.36 billion, a PE ratio of 11.84 and a beta of 1.00. Rayonier Inc. has a 52 week low of $24.88 and a 52 week high of $32.05. The business’s fifty day simple moving average is $26.25 and its 200-day simple moving average is $29.00. 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 (NYSE:RYN) last issued its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.27 earnings per share (EPS) 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, equities analysts anticipate that Rayonier Inc. will post 0.55 earnings per share for the current year.

Rayonier Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a $0.2725 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.09 annualized dividend and a yield of 3.90%. Rayonier’s dividend payout ratio (DPR) is currently 46.19%.

Rayonier announced that its Board of Directors has initiated a stock repurchase plan on Monday, December 2nd that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to purchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are 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.