Balyasny Asset Management L.P. Lowers Stock Position in Rayonier Inc. (NYSE:RYN)

Balyasny Asset Management L.P. decreased its position in Rayonier Inc. (NYSE:RYN) by 12.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 784,404 shares of the real estate investment trust’s stock after selling 116,523 shares during the period. Balyasny Asset Management L.P.’s holdings in Rayonier were worth $20,473,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Ancora Advisors LLC increased its stake in shares of Rayonier by 1.4% in the 4th quarter. Ancora Advisors LLC now owns 347,630 shares of the real estate investment trust’s stock valued at $9,073,000 after purchasing an additional 4,760 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Rayonier in the fourth quarter valued at approximately $416,000. Northern Trust Corp raised its stake in shares of Rayonier by 17.9% during the 4th quarter. Northern Trust Corp now owns 1,543,523 shares of the real estate investment trust’s stock worth $40,286,000 after buying an additional 234,629 shares during the period. Quarry LP purchased a new position in shares of Rayonier during the 4th quarter valued at approximately $173,000. Finally, Pinebridge Investments L.P. grew its stake in Rayonier by 42.7% in the 4th quarter. Pinebridge Investments L.P. now owns 76,059 shares of the real estate investment trust’s stock valued at $1,985,000 after acquiring an additional 22,753 shares during the period. Institutional investors and hedge funds own 89.12% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Royal Bank of Canada reduced their price objective on shares of Rayonier from $28.00 to $27.00 and set a “sector perform” rating for the company in a research report on Friday, May 2nd. StockNews.com lowered shares of Rayonier from a “buy” rating to a “sell” rating in a research note on Monday. Citigroup cut their price objective on Rayonier from $32.00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Truist Financial decreased their target price on Rayonier from $30.00 to $27.00 and set a “hold” rating on the stock in a research report on Tuesday, April 22nd. Finally, Raymond James upgraded Rayonier from a “market perform” rating to an “outperform” rating and set a $31.00 price target for the company in a research report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $27.50.

Rayonier Stock Up 2.3 %

RYN stock opened at $23.45 on Thursday. The company has a market cap of $3.66 billion, a price-to-earnings ratio of 9.94 and a beta of 1.07. The firm has a 50-day moving average of $25.92 and a two-hundred day moving average of $27.40. Rayonier Inc. has a 12 month low of $22.80 and a 12 month high of $31.29. The company has a current ratio of 1.12, a quick ratio of 1.85 and a debt-to-equity ratio of 0.61.

Rayonier (NYSE:RYN) last announced its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.10). The company had revenue of $82.90 million for the quarter, compared to analysts’ expectations of $152.99 million. Rayonier had a return on equity of 3.86% and a net margin of 28.44%. The business’s quarterly revenue was down 27.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.01 EPS. As a group, analysts forecast that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.

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.