Crossmark Global Holdings Inc. Sells 5,437 Shares of Rayonier Inc. (NYSE:RYN)

Crossmark Global Holdings Inc. lessened its holdings in shares of Rayonier Inc. (NYSE:RYN) by 1.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 290,785 shares of the real estate investment trust’s stock after selling 5,437 shares during the quarter. Crossmark Global Holdings Inc. owned about 0.20% of Rayonier worth $7,590,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of RYN. Stifel Financial Corp increased its holdings in shares of Rayonier by 209.6% in the 3rd quarter. Stifel Financial Corp now owns 57,289 shares of the real estate investment trust’s stock worth $1,843,000 after buying an additional 38,783 shares during the last quarter. Vestcor Inc bought a new position in Rayonier in the third quarter valued at $1,749,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Rayonier by 119.7% during the third 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 purchasing an additional 249,173 shares in the last quarter. Oak Thistle LLC bought a new stake in Rayonier during the fourth quarter worth about $467,000. Finally, State Street Corp boosted its holdings in shares of Rayonier by 2.5% in the 3rd 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. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Rayonier Stock Up 0.8 %

RYN stock opened at $26.74 on Wednesday. Rayonier Inc. has a fifty-two week low of $24.88 and a fifty-two week high of $35.29. The company has a market capitalization of $3.98 billion, a price-to-earnings ratio of 25.22 and a beta of 1.04. The business’s 50 day moving average price is $28.35 and its two-hundred day moving average price is $29.85. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.85 and a current ratio of 1.99.

Rayonier (NYSE:RYN) last issued its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). Rayonier had a net margin of 15.84% and a return on equity of 2.95%. The business had revenue of $195.00 million for the quarter, compared to analysts’ expectations of $211.21 million. During the same period last year, the business earned $0.13 earnings per share. The company’s revenue was down 3.3% on a year-over-year basis. As a group, analysts forecast that Rayonier Inc. will post 0.38 earnings per share for the current fiscal year.

Rayonier Increases Dividend

The company also recently declared a special dividend, which will be paid on Thursday, January 30th. Investors of record on Thursday, December 12th will be given a dividend of $1.80 per share. This is an increase from Rayonier’s previous special dividend of $0.20. Rayonier’s dividend payout ratio (DPR) is 107.55%.

Rayonier announced that its board has approved a stock repurchase program on Monday, December 2nd that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the real estate investment trust to purchase up to 6.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Citigroup dropped their target price on Rayonier from $32.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Truist Financial lowered their price objective 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. Finally, StockNews.com raised shares of Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Four research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $29.67.

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.