Raymond James & Associates Reduces Stock Position in Rayonier Inc. (NYSE:RYN)

Raymond James & Associates cut its holdings in Rayonier Inc. (NYSE:RYN) by 8.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,475 shares of the real estate investment trust’s stock after selling 5,230 shares during the period. Raymond James & Associates’ holdings in Rayonier were worth $1,868,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new position in Rayonier in the 4th quarter valued at about $376,137,000. Victory Capital Management Inc. boosted its holdings in Rayonier by 18.2% in the 4th quarter. Victory Capital Management Inc. now owns 3,390,520 shares of the real estate investment trust’s stock valued at $111,752,000 after purchasing an additional 522,801 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Rayonier by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 21,486,063 shares of the real estate investment trust’s stock valued at $643,938,000 after purchasing an additional 418,687 shares in the last quarter. Northern Trust Corp boosted its holdings in Rayonier by 31.3% in the 1st quarter. Northern Trust Corp now owns 1,450,004 shares of the real estate investment trust’s stock valued at $59,624,000 after purchasing an additional 345,821 shares in the last quarter. Finally, Impax Asset Management Group plc boosted its holdings in Rayonier by 6.0% in the 1st quarter. Impax Asset Management Group plc now owns 5,819,485 shares of the real estate investment trust’s stock valued at $192,742,000 after purchasing an additional 331,783 shares in the last quarter. 82.75% of the stock is currently owned by institutional investors and hedge funds.

Rayonier Price Performance

RYN stock opened at $25.39 on Tuesday. Rayonier Inc. has a 1 year low of $24.84 and a 1 year high of $37.79. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.61 and a current ratio of 1.92. The stock’s 50 day moving average price is $28.29 and its 200 day moving average price is $29.99. The firm has a market cap of $3.76 billion, a P/E ratio of 46.16 and a beta of 1.00.

Rayonier (NYSE:RYN) last posted its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.04). Rayonier had a net margin of 9.77% and a return on equity of 2.55%. The company had revenue of $208.90 million during the quarter, compared to analysts’ expectations of $210.18 million. During the same period in the previous year, the company posted $0.16 EPS. Rayonier’s quarterly revenue was down 15.2% compared to the same quarter last year. On average, sell-side analysts expect that Rayonier Inc. will post 0.34 earnings per share for the current fiscal year.

Rayonier Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a dividend of $0.285 per share. The ex-dividend date is Thursday, December 14th. This represents a $1.14 dividend on an annualized basis and a yield of 4.49%. Rayonier’s dividend payout ratio (DPR) is 207.27%.

Analysts Set New Price Targets

Separately, StockNews.com lowered Rayonier from a “hold” rating to a “sell” rating in a research note on Thursday, October 26th. One analyst has rated the stock with a sell rating and two have issued a hold rating to the stock. According to data from MarketBeat, Rayonier currently has an average rating of “Hold” and an average target price of $34.50.

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 June 30, 2023, Rayonier owned or leased under long-term agreements approximately 2.8 million acres of timberlands located in the U.S.