Duff & Phelps Investment Management Co. Purchases Shares of 44,000 Rayonier Inc. (NYSE:RYN)

Duff & Phelps Investment Management Co. acquired a new stake in Rayonier Inc. (NYSE:RYN) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 44,000 shares of the real estate investment trust’s stock, valued at approximately $1,470,000.

Several other institutional investors also recently modified their holdings of RYN. Leavell Investment Management Inc. grew its holdings in Rayonier by 1.0% during the fourth quarter. Leavell Investment Management Inc. now owns 38,352 shares of the real estate investment trust’s stock worth $1,289,000 after purchasing an additional 363 shares during the period. Keybank National Association OH lifted its position in shares of Rayonier by 2.4% in the third quarter. Keybank National Association OH now owns 20,723 shares of the real estate investment trust’s stock valued at $590,000 after buying an additional 488 shares during the last quarter. Retirement Systems of Alabama boosted its stake in shares of Rayonier by 0.3% during the 4th quarter. Retirement Systems of Alabama now owns 170,870 shares of the real estate investment trust’s stock worth $5,709,000 after acquiring an additional 550 shares during the period. Inspire Investing LLC increased its holdings in shares of Rayonier by 6.1% during the 3rd quarter. Inspire Investing LLC now owns 10,756 shares of the real estate investment trust’s stock worth $306,000 after acquiring an additional 614 shares during the last quarter. Finally, Raymond James & Associates raised its stake in Rayonier by 1.1% in the 3rd quarter. Raymond James & Associates now owns 60,135 shares of the real estate investment trust’s stock valued at $1,711,000 after acquiring an additional 660 shares during the period. 89.12% of the stock is currently owned by institutional investors and hedge funds.

Rayonier Stock Down 1.6 %

RYN opened at $29.68 on Wednesday. The stock has a fifty day moving average of $32.66 and a 200-day moving average of $31.46. The company has a market capitalization of $4.41 billion, a P/E ratio of 25.37 and a beta of 1.07. Rayonier Inc. has a fifty-two week low of $24.84 and a fifty-two week high of $35.29. The company has a debt-to-equity ratio of 0.73, a quick ratio of 2.04 and a current ratio of 2.26.

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

Rayonier Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.285 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.14 annualized dividend and a dividend yield of 3.84%. Rayonier’s dividend payout ratio is presently 97.44%.

Wall Street Analyst Weigh In

A number of research firms have commented on RYN. TheStreet raised shares of Rayonier from a “c+” rating to a “b-” rating in a research report on Friday, February 16th. Truist Financial lifted their target price on shares of Rayonier from $33.00 to $34.00 and gave the stock a “hold” rating in a report on Thursday, January 4th. StockNews.com raised shares of Rayonier from a “sell” rating to a “hold” rating in a report on Monday, February 26th. Finally, Royal Bank of Canada raised their price objective on shares of Rayonier from $34.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Three investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Rayonier has an average rating of “Hold” and a consensus target price of $34.50.

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.