Russell Investments Group Ltd. Reduces Stock Position in Rayonier Inc. (NYSE:RYN)

Posted by Defense World Staff on May 24th, 2023

Russell Investments Group Ltd. lowered its stake in shares of Rayonier Inc. (NYSE:RYN – Get Rating) by 22.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 50,095 shares of the real estate investment trust’s stock after selling 14,394 shares during the period. Russell Investments Group Ltd.’s holdings in Rayonier were worth $1,652,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Cipher Capital LP raised its position in shares of Rayonier by 90.0% in the third quarter. Cipher Capital LP now owns 60,930 shares of the real estate investment trust’s stock worth $1,826,000 after buying an additional 28,854 shares in the last quarter. Point72 Asset Management L.P. raised its position in shares of Rayonier by 3.1% in the third quarter. Point72 Asset Management L.P. now owns 343,400 shares of the real estate investment trust’s stock worth $10,292,000 after buying an additional 10,400 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Rayonier in the third quarter worth $207,000. Renaissance Technologies LLC raised its position in shares of Rayonier by 76.9% in the third quarter. Renaissance Technologies LLC now owns 359,071 shares of the real estate investment trust’s stock worth $10,761,000 after buying an additional 156,100 shares in the last quarter. Finally, New York State Common Retirement Fund raised its position in shares of Rayonier by 3.5% in the fourth quarter. New York State Common Retirement Fund now owns 175,400 shares of the real estate investment trust’s stock worth $5,781,000 after buying an additional 6,000 shares in the last quarter. Hedge funds and other institutional investors own 82.87% of the company’s stock.

Rayonier Stock Down 1.2 %

Shares of NYSE:RYN opened at $29.55 on Wednesday. The stock’s 50-day moving average price is $31.61 and its 200-day moving average price is $33.52. Rayonier Inc. has a 12-month low of $27.81 and a 12-month high of $42.05. The stock has a market capitalization of $4.38 billion, a P/E ratio of 50.95 and a beta of 0.96. The company has a current ratio of 1.94, a quick ratio of 1.62 and a debt-to-equity ratio of 0.82.

Rayonier (NYSE:RYN – Get Rating) last announced its quarterly earnings data on Wednesday, May 3rd. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.07). Rayonier had a net margin of 9.94% and a return on equity of 3.44%. The company had revenue of $179.10 million for the quarter, compared to the consensus estimate of $210.13 million. During the same period last year, the business posted $0.20 earnings per share. The firm’s quarterly revenue was down 19.3% compared to the same quarter last year. On average, equities analysts anticipate that Rayonier Inc. will post 0.36 earnings per share for the current year.

Rayonier Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 16th will be paid a dividend of $0.285 per share. The ex-dividend date of this dividend is Thursday, June 15th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.86%. Rayonier’s dividend payout ratio (DPR) is currently 196.55%.

Wall Street Analyst Weigh In

RYN has been the topic of a number of recent analyst reports. Truist Financial initiated coverage on Rayonier in a research report on Monday, May 15th. They issued a “hold” rating and a $33.00 price objective on the stock. Citigroup reduced their target price on Rayonier from $39.00 to $36.00 and set a “neutral” rating on the stock in a research note on Thursday, April 6th. TheStreet cut Rayonier from a “b-” rating to a “c+” rating in a research note on Thursday, May 11th. Finally, StockNews.com assumed coverage on Rayonier in a research note on Thursday, May 18th. They issued a “sell” rating on the stock.

Rayonier Profile

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Rayonier, Inc is a real estate investment trust, which engages in investment in timberlands. It operates through the following business segments: Southern Timber, Pacific Northwest Timber, New Zealand Timber, Real Estate, Timber Funds and Trading. The Southern Timber, Pacific Northwest Timber and New Zealand Timber segments reflect all activities related to the harvesting of timber and other value-added activities, such as recreational licenses, within each respective geography.