First Financial Corp IN Trims Stock Holdings in Rayonier Inc. (NYSE:RYN)

First Financial Corp IN trimmed its position in Rayonier Inc. (NYSE:RYNFree Report) by 51.9% during the first quarter, HoldingsChannel.com reports. The firm owned 4,079 shares of the real estate investment trust’s stock after selling 4,393 shares during the quarter. First Financial Corp IN’s holdings in Rayonier were worth $136,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in RYN. Norges Bank purchased a new position in shares of Rayonier during the fourth quarter valued at $439,076,000. Charles Schwab Investment Management Inc. grew its holdings in Rayonier by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,337,632 shares of the real estate investment trust’s stock worth $78,100,000 after purchasing an additional 75,749 shares during the period. Confluence Investment Management LLC acquired a new stake in Rayonier during the first quarter worth approximately $77,027,000. Cohen & Steers Inc. acquired a new stake in shares of Rayonier in the fourth quarter valued at approximately $51,265,000. Finally, Global Alpha Capital Management Ltd. boosted its stake in Rayonier by 10.7% in the fourth quarter. Global Alpha Capital Management Ltd. now owns 645,057 shares of the real estate investment trust’s stock valued at $21,551,000 after buying an additional 62,400 shares in the last quarter. Institutional investors own 89.12% of the company’s stock.

Rayonier Price Performance

RYN traded down $0.26 during midday trading on Tuesday, reaching $29.82. 586,194 shares of the company’s stock were exchanged, compared to its average volume of 557,521. The business has a 50-day simple moving average of $29.99 and a two-hundred day simple moving average of $31.81. The company has a quick ratio of 2.08, a current ratio of 2.46 and a debt-to-equity ratio of 0.74. Rayonier Inc. has a one year low of $24.84 and a one year high of $35.29. The firm has a market capitalization of $4.44 billion, a price-to-earnings ratio of 26.68 and a beta of 1.07.

Rayonier (NYSE:RYNGet Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. The company had revenue of $168.10 million during the quarter, compared to analysts’ expectations of $190.04 million. Rayonier had a return on equity of 3.21% and a net margin of 15.92%. The business’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.01 earnings per share. As a group, research analysts predict that Rayonier Inc. will post 0.46 EPS for the current year.

Rayonier Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date is Friday, June 14th. Rayonier’s dividend payout ratio is currently 101.79%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RYN. StockNews.com lowered shares of Rayonier from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Royal Bank of Canada reiterated a “sector perform” rating and set a $34.00 price target on shares of Rayonier in a research report on Friday, June 14th. Three research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $34.00.

Get Our Latest Research Report on Rayonier

About Rayonier

(Free Report)

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.

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Institutional Ownership by Quarter for Rayonier (NYSE:RYN)

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