Sumitomo Mitsui Trust Holdings Inc. Has $1.77 Million Stock Holdings in Rayonier Inc. (NYSE:RYN)

Sumitomo Mitsui Trust Holdings Inc. decreased its holdings in shares of Rayonier Inc. (NYSE:RYN) by 18.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,658 shares of the real estate investment trust’s stock after selling 14,032 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Rayonier were worth $1,765,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. CENTRAL TRUST Co raised its holdings in shares of Rayonier by 5.5% in the first quarter. CENTRAL TRUST Co now owns 6,433 shares of the real estate investment trust’s stock valued at $214,000 after purchasing an additional 336 shares during the last quarter. M&T Bank Corp raised its holdings in shares of Rayonier by 4.4% in the fourth quarter. M&T Bank Corp now owns 8,102 shares of the real estate investment trust’s stock valued at $271,000 after purchasing an additional 344 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Rayonier by 53.5% in the second quarter. GAMMA Investing LLC now owns 1,079 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 376 shares during the last quarter. Retirement Systems of Alabama raised its holdings in shares of Rayonier by 0.3% in the first quarter. Retirement Systems of Alabama now owns 171,307 shares of the real estate investment trust’s stock valued at $5,694,000 after purchasing an additional 437 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in shares of Rayonier by 0.5% in the first quarter. State of Alaska Department of Revenue now owns 84,739 shares of the real estate investment trust’s stock valued at $2,815,000 after purchasing an additional 439 shares during the last quarter. Institutional investors and hedge funds own 89.12% of the company’s stock.

Rayonier Stock Performance

NYSE RYN opened at $29.07 on Friday. Rayonier Inc. has a 52-week low of $24.84 and a 52-week high of $35.29. The company has a 50-day simple moving average of $29.38 and a 200 day simple moving average of $30.92. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.78 and a current ratio of 1.98. The company has a market capitalization of $4.33 billion, a PE ratio of 25.96 and a beta of 1.05.

Rayonier (NYSE:RYN) last issued its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.12). The business had revenue of $173.60 million for the quarter, compared to the consensus estimate of $218.86 million. Rayonier had a return on equity of 3.00% and a net margin of 14.78%. Rayonier’s revenue for the quarter was down 16.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.05 EPS. On average, research analysts predict that Rayonier Inc. will post 0.41 EPS for the current year.

Rayonier Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders 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 yield of 3.92%. Rayonier’s dividend payout ratio is presently 101.79%.

Wall Street Analyst Weigh In

RYN has been the subject of several analyst reports. StockNews.com upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, August 17th. Truist Financial decreased their price objective on shares of Rayonier from $34.00 to $31.00 and set a “hold” rating for the company in a report on Tuesday, July 16th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $34.00 price objective on shares of Rayonier in a 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.