Dynamic Technology Lab Private Ltd Takes $320,000 Position in Rayonier Inc. (NYSE:RYN)

Dynamic Technology Lab Private Ltd acquired a new stake in shares of Rayonier Inc. (NYSE:RYN) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 12,240 shares of the real estate investment trust’s stock, valued at approximately $320,000.

A number of other hedge funds have also made changes to their positions in the stock. Norges Bank purchased a new position in Rayonier during the 4th quarter worth approximately $343,007,000. State Street Corp lifted its stake 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 valued at $137,715,000 after purchasing an additional 104,464 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Rayonier by 0.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,372,817 shares of the real estate investment trust’s stock valued at $88,031,000 after purchasing an additional 20,126 shares during the last quarter. Geode Capital Management LLC raised its holdings in Rayonier by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 2,632,193 shares of the real estate investment trust’s stock worth $68,719,000 after acquiring an additional 39,332 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Rayonier by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,488,802 shares of the real estate investment trust’s stock worth $64,958,000 after acquiring an additional 46,956 shares during the period. Institutional investors and hedge funds own 89.12% of the company’s stock.

Rayonier Price Performance

Shares of Rayonier stock opened at $24.62 on Thursday. 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 Inc. has a twelve month low of $22.80 and a twelve month high of $31.29. The stock has a market capitalization of $3.84 billion, a price-to-earnings ratio of 10.43 and a beta of 0.97. The company has a 50-day simple moving average of $26.51 and a two-hundred day simple moving average of $28.41.

Rayonier (NYSE:RYN) last announced its quarterly earnings results 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%. Analysts forecast that Rayonier Inc. will post 0.55 EPS for the current year.

Rayonier Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a dividend of $0.2725 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.09 annualized dividend and a yield of 4.43%. Rayonier’s payout ratio is 46.19%.

Wall Street Analysts Forecast Growth

RYN has been the topic of several research reports. Citigroup dropped their price objective on shares of Rayonier from $32.00 to $25.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. 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. 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 report on Wednesday, March 12th. StockNews.com upgraded shares of Rayonier from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Finally, Royal Bank of Canada lowered their target price on shares of Rayonier from $33.00 to $30.00 and set a “sector perform” rating for the company in a research note on Friday, February 7th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $29.00.

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.