Foresight Group Ltd Liability Partnership Raises Stock Holdings in Rayonier Inc. (NYSE:RYN)

Foresight Group Ltd Liability Partnership increased its stake in shares of Rayonier Inc. (NYSE:RYN) by 90.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,397 shares of the real estate investment trust’s stock after purchasing an additional 14,408 shares during the quarter. Rayonier makes up 0.4% of Foresight Group Ltd Liability Partnership’s holdings, making the stock its 26th largest position. Foresight Group Ltd Liability Partnership’s holdings in Rayonier were worth $884,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Advisors Asset Management Inc. purchased a new stake in Rayonier in the first quarter valued at about $26,000. GAMMA Investing LLC raised its stake in 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 buying an additional 376 shares during the last quarter. Quest Partners LLC purchased a new stake in Rayonier in the second quarter valued at about $40,000. Fifth Third Bancorp raised its stake in Rayonier by 83.7% in the second quarter. Fifth Third Bancorp now owns 1,449 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 660 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. raised its stake in Rayonier by 2,272.7% in the second quarter. Farmers & Merchants Investments Inc. now owns 1,566 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 1,500 shares during the last quarter. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RYN has been the subject of a number of research analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $34.00 price target on shares of Rayonier in a research note on Friday, June 14th. StockNews.com upgraded Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, August 17th. Finally, Truist Financial reduced their price objective on Rayonier from $34.00 to $31.00 and set a “hold” rating for the company in a research note on Tuesday, July 16th.

Insider Buying and Selling

In related news, Director V. Larkin Martin sold 10,011 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $30.57, for a total transaction of $306,036.27. Following the sale, the director now directly owns 40,168 shares of the company’s stock, valued at $1,227,935.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.83% of the stock is owned by corporate insiders.

Rayonier Trading Down 0.4 %

Shares of NYSE:RYN opened at $31.58 on Thursday. Rayonier Inc. has a 52-week low of $24.84 and a 52-week high of $35.29. The stock has a market cap of $4.70 billion, a price-to-earnings ratio of 28.20 and a beta of 1.04. The company has a quick ratio of 1.78, a current ratio of 1.98 and a debt-to-equity ratio of 0.75. The business has a 50-day moving average price of $30.02 and a 200-day moving average price of $30.56.

Rayonier (NYSE:RYN) last announced its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.12). The firm had revenue of $173.60 million during the quarter, compared to analysts’ expectations of $218.86 million. Rayonier had a return on equity of 3.00% and a net margin of 14.78%. The company’s revenue for the quarter was down 16.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.05 earnings per share. Equities analysts predict that Rayonier Inc. will post 0.4 EPS for the current year.

Rayonier Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend is Monday, September 16th. Rayonier’s dividend payout ratio (DPR) is 101.79%.

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.