Rayonier Inc. (NYSE:RYN) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lowered its holdings in Rayonier Inc. (NYSE:RYN) by 27.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,656,881 shares of the real estate investment trust’s stock after selling 1,028,725 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.78% of Rayonier worth $77,289,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. WINTON GROUP Ltd acquired a new stake in shares of Rayonier in the second quarter worth $3,275,000. Cornercap Investment Counsel Inc. acquired a new stake in shares of Rayonier in the second quarter worth $702,000. Teramo Advisors LLC acquired a new stake in shares of Rayonier in the second quarter worth $9,309,000. United Services Automobile Association acquired a new stake in shares of Rayonier in the second quarter worth $309,000. Finally, Quest Partners LLC acquired a new stake in shares of Rayonier in the second quarter worth $40,000. Institutional investors and hedge funds own 89.12% of the company’s stock.

Insider Activity at Rayonier

In other Rayonier news, Director V. Larkin Martin sold 10,011 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were 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 in the company, valued at approximately $1,227,935.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.83% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RYN. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $34.00 price target on shares of Rayonier in a report on Friday, June 14th. Truist Financial lowered their price target 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, StockNews.com raised shares of Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, August 17th.

Rayonier Price Performance

RYN opened at $31.58 on Thursday. The firm has a market cap of $4.70 billion, a price-to-earnings ratio of 28.23 and a beta of 1.04. The company has a current ratio of 1.98, a quick ratio of 1.78 and a debt-to-equity ratio of 0.75. Rayonier Inc. has a twelve month low of $24.84 and a twelve month high of $35.29. The company has a fifty day simple moving average of $30.02 and a 200 day simple moving average 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 for the quarter, missing the consensus estimate of $0.14 by ($0.12). The company had revenue of $173.60 million for the quarter, compared to analyst estimates of $218.86 million. Rayonier had a return on equity of 3.00% and a net margin of 14.78%. Rayonier’s revenue was down 16.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.05 earnings per share. Equities research analysts expect that Rayonier Inc. will post 0.4 EPS for the current fiscal year.

Rayonier Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a $0.285 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.14 annualized dividend and a yield of 3.61%. Rayonier’s dividend payout ratio is presently 101.79%.

Rayonier 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.