Maryland State Retirement & Pension System Sells 1,176 Shares of Rayonier Inc. $RYN

Maryland State Retirement & Pension System decreased its position in Rayonier Inc. (NYSE:RYN) by 14.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,216 shares of the real estate investment trust’s stock after selling 1,176 shares during the period. Maryland State Retirement & Pension System’s holdings in Rayonier were worth $201,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Securian Asset Management Inc. raised its stake in shares of Rayonier by 4.6% during the 1st quarter. Securian Asset Management Inc. now owns 10,603 shares of the real estate investment trust’s stock worth $296,000 after purchasing an additional 466 shares during the period. Shell Asset Management Co. increased its holdings in Rayonier by 4.5% during the fourth quarter. Shell Asset Management Co. now owns 11,652 shares of the real estate investment trust’s stock worth $304,000 after buying an additional 497 shares during the last quarter. Hollencrest Capital Management raised its position in Rayonier by 5.1% in the first quarter. Hollencrest Capital Management now owns 10,509 shares of the real estate investment trust’s stock worth $293,000 after acquiring an additional 509 shares during the period. Hamilton Point Investment Advisors LLC boosted its stake in Rayonier by 4.5% in the first quarter. Hamilton Point Investment Advisors LLC now owns 13,183 shares of the real estate investment trust’s stock valued at $368,000 after acquiring an additional 563 shares during the last quarter. Finally, Timber Creek Capital Management LLC boosted its stake in Rayonier by 4.5% in the first quarter. Timber Creek Capital Management LLC now owns 13,957 shares of the real estate investment trust’s stock valued at $389,000 after acquiring an additional 596 shares during the last quarter. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Rayonier Price Performance

NYSE:RYN opened at $26.6360 on Wednesday. Rayonier Inc. has a 52-week low of $21.84 and a 52-week high of $32.88. The stock has a fifty day moving average of $23.82 and a 200 day moving average of $24.80. The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.38 and a current ratio of 3.50. The firm has a market capitalization of $4.11 billion, a price-to-earnings ratio of 5.38 and a beta of 1.00.

Rayonier (NYSE:RYN) last issued its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. Rayonier had a return on equity of 3.39% and a net margin of 68.53%.The firm had revenue of $106.50 million during the quarter, compared to the consensus estimate of $95.30 million. During the same quarter last year, the company posted $0.02 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, research analysts expect that Rayonier Inc. will post 0.55 EPS for the current fiscal year.

Rayonier Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a dividend of $0.2725 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.09 annualized dividend and a yield of 4.1%. Rayonier’s payout ratio is 22.02%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on RYN shares. Truist Financial lowered their price target on shares of Rayonier from $30.00 to $27.00 and set a “hold” rating on the stock in a report on Tuesday, April 22nd. Royal Bank Of Canada increased their price target on Rayonier from $26.00 to $27.00 and gave the stock a “sector perform” rating in a research note on Friday, August 8th. Citigroup decreased their price objective on Rayonier from $27.00 to $26.00 and set a “neutral” rating for the company in a report on Tuesday, June 3rd. Finally, Wall Street Zen upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Rayonier currently has a consensus rating of “Hold” and an average price target of $27.75.

About Rayonier

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.