WINTON GROUP Ltd Purchases 5,873 Shares of Rayonier Inc. (NYSE:RYN)

WINTON GROUP Ltd raised its holdings in Rayonier Inc. (NYSE:RYN) by 5.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 112,914 shares of the real estate investment trust’s stock after buying an additional 5,873 shares during the quarter. WINTON GROUP Ltd’s holdings in Rayonier were worth $2,947,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Harvest Fund Management Co. Ltd bought a new stake in Rayonier in the fourth quarter valued at about $25,000. UMB Bank n.a. lifted its stake in Rayonier by 59.7% during the fourth quarter. UMB Bank n.a. now owns 1,404 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 525 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in Rayonier by 264.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,677 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 1,217 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of 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 purchasing an additional 511 shares during the period. Finally, Harbor Capital Advisors Inc. raised its holdings in shares of Rayonier by 36.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 3,186 shares of the real estate investment trust’s stock worth $83,000 after buying an additional 857 shares in the last quarter. Institutional investors and hedge funds own 89.12% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Royal Bank of Canada decreased their price target on Rayonier from $33.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Friday, February 7th. Raymond James upgraded shares of Rayonier from a “market perform” rating to an “outperform” rating and set a $31.00 target price on the stock in a research note on Wednesday, March 12th. StockNews.com upgraded shares of Rayonier from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Truist Financial reduced their price target on shares of Rayonier from $32.00 to $30.00 and set a “hold” rating on the stock in a research report on Monday, January 6th. Finally, Citigroup dropped their price objective on shares of Rayonier from $32.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Rayonier has a consensus rating of “Hold” and a consensus target price of $29.00.

Rayonier Stock Performance

Shares of NYSE:RYN opened at $27.88 on Friday. The business has a fifty day moving average of $26.63 and a 200-day moving average of $28.84. The firm has a market cap of $4.35 billion, a PE ratio of 11.81 and a beta of 1.00. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.85 and a current ratio of 1.12. Rayonier Inc. has a twelve month low of $24.88 and a twelve month high of $32.05.

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%. On average, equities research analysts predict that Rayonier Inc. will post 0.55 EPS for the current fiscal year.

Rayonier Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a yield of 3.91%. The ex-dividend date is Monday, March 17th. Rayonier’s dividend payout ratio is 46.19%.

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