Lazard Asset Management LLC Has $1.36 Million Stake in Rayonier Inc. (NYSE:RYN)

Lazard Asset Management LLC trimmed its holdings in shares of Rayonier Inc. (NYSE:RYN) by 8.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,959 shares of the real estate investment trust’s stock after selling 4,790 shares during the period. Lazard Asset Management LLC’s holdings in Rayonier were worth $1,356,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RYN. Oppenheimer & Co. Inc. acquired a new stake in shares of Rayonier in the 4th quarter valued at $327,000. HighTower Advisors LLC increased its stake in shares of Rayonier by 3.4% in the 4th quarter. HighTower Advisors LLC now owns 66,571 shares of the real estate investment trust’s stock valued at $1,738,000 after buying an additional 2,168 shares during the period. Marshall Wace LLP acquired a new stake in shares of Rayonier in the 4th quarter valued at $376,000. Charles Schwab Investment Management Inc. increased its stake in shares of 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 valued at $64,958,000 after buying an additional 46,956 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Rayonier by 9.4% in the 4th quarter. Invesco Ltd. now owns 370,474 shares of the real estate investment trust’s stock valued at $9,669,000 after buying an additional 31,916 shares during the period. 89.12% of the stock is owned by institutional investors and hedge funds.

Rayonier Stock Up 0.7%

Shares of Rayonier stock opened at $24.18 on Monday. 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 12 month low of $22.80 and a 12 month high of $31.29. The business has a fifty day simple moving average of $25.45 and a 200 day simple moving average of $26.97. The stock has a market cap of $3.77 billion, a PE ratio of 10.25 and a beta of 1.07.

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). Rayonier had a return on equity of 3.86% and a net margin of 28.44%. The company had revenue of $82.90 million for the quarter, compared to analyst estimates of $152.99 million. During the same period last year, the firm earned $0.01 earnings per share. The firm’s revenue for the quarter was down 27.1% on a year-over-year basis. Research analysts predict that Rayonier Inc. will post 0.55 EPS for the current year.

Rayonier Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a yield of 4.51%. Rayonier’s payout ratio is 46.78%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Royal Bank of Canada lowered their target price on Rayonier from $28.00 to $27.00 and set a “sector perform” rating for the company in a research note on Friday, May 2nd. Truist Financial lowered their target price on Rayonier from $30.00 to $27.00 and set a “hold” rating for the company in a research note on Tuesday, April 22nd. Raymond James raised Rayonier from a “market perform” rating to an “outperform” rating and set a $31.00 price objective for the company in a research note on Wednesday, March 12th. Finally, StockNews.com raised Rayonier from a “sell” rating to a “hold” rating in a research note on Tuesday, May 13th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Rayonier presently has an average rating of “Hold” and a consensus target price of $27.50.

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.