Public Employees Retirement Association of Colorado Has $521,000 Stock Holdings in Rayonier Inc. (NYSE:RYN)

Public Employees Retirement Association of Colorado lowered its position in shares of Rayonier Inc. (NYSE:RYN) by 16.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,668 shares of the real estate investment trust’s stock after selling 3,125 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Rayonier were worth $521,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. bought a new stake in shares of Rayonier during the 1st quarter worth approximately $26,000. Covestor Ltd grew its holdings in shares of Rayonier by 488.6% during the 1st quarter. Covestor Ltd now owns 1,554 shares of the real estate investment trust’s stock worth $52,000 after purchasing an additional 1,290 shares in the last quarter. Larson Financial Group LLC acquired a new stake in shares of Rayonier during the 1st quarter worth $62,000. Signaturefd LLC grew its holdings in shares of Rayonier by 371.7% during the 4th quarter. Signaturefd LLC now owns 2,052 shares of the real estate investment trust’s stock worth $69,000 after purchasing an additional 1,617 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Rayonier by 525.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,551 shares of the real estate investment trust’s stock worth $85,000 after purchasing an additional 2,143 shares in the last quarter. Institutional investors and hedge funds own 89.12% of the company’s stock.

Rayonier Price Performance

Rayonier stock opened at $30.74 on Friday. Rayonier Inc. has a 12 month low of $24.84 and a 12 month high of $35.29. The company has a current ratio of 2.46, a quick ratio of 2.08 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $4.58 billion, a PE ratio of 27.45 and a beta of 1.05. The stock has a 50-day moving average price of $29.42 and a two-hundred day moving average price of $31.08.

Rayonier (NYSE:RYN) last issued its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. Rayonier had a return on equity of 3.21% and a net margin of 15.92%. The company had revenue of $168.10 million during the quarter, compared to the consensus estimate of $190.04 million. During the same period last year, the company earned $0.01 earnings per share. The firm’s revenue was down 6.1% compared to the same quarter last year. Analysts expect that Rayonier Inc. will post 0.44 EPS for the current year.

Rayonier Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.285 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.71%. Rayonier’s dividend payout ratio (DPR) is 101.79%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Truist Financial reduced their price objective on Rayonier from $34.00 to $31.00 and set a “hold” rating on the stock in a research note on Tuesday, July 16th. StockNews.com lowered Rayonier from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $34.00 target price on shares of Rayonier in a research report on Friday, June 14th.

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.