Rayonier Inc. (NYSE:RYN) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. reduced its position in Rayonier Inc. (NYSE:RYN) by 5.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,480 shares of the real estate investment trust’s stock after selling 724 shares during the period. Federated Hermes Inc.’s holdings in Rayonier were worth $392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position 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 worth $31,000 after acquiring an additional 376 shares during the period. Retirement Systems of Alabama boosted its position in Rayonier by 0.3% during the first quarter. Retirement Systems of Alabama now owns 171,307 shares of the real estate investment trust’s stock worth $5,694,000 after purchasing an additional 437 shares in the last quarter. State of Alaska Department of Revenue increased its position 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 buying an additional 439 shares in the last quarter. Bollard Group LLC raised its stake in shares of Rayonier by 0.9% during the 4th quarter. Bollard Group LLC now owns 68,880 shares of the real estate investment trust’s stock worth $2,301,000 after buying an additional 583 shares during the period. Finally, Financial Management Professionals Inc. lifted its position in shares of Rayonier by 18.7% during the 1st quarter. Financial Management Professionals Inc. now owns 3,808 shares of the real estate investment trust’s stock valued at $127,000 after buying an additional 600 shares in the last quarter. 89.12% of the stock is owned by hedge funds and other institutional investors.

Rayonier Price Performance

Shares of NYSE RYN opened at $31.91 on Tuesday. The firm has a 50-day simple moving average of $30.29 and a 200-day simple moving average of $30.47. 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 stock has a market capitalization of $4.75 billion, a price-to-earnings ratio of 28.49 and a beta of 1.04. Rayonier Inc. has a 52 week low of $24.84 and a 52 week high of $35.29.

Rayonier (NYSE:RYN) last released 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). Rayonier had a return on equity of 3.00% and a net margin of 14.78%. The business had revenue of $173.60 million during the quarter, compared to analysts’ expectations of $218.86 million. During the same period last year, the business earned $0.05 earnings per share. The company’s revenue for the quarter was down 16.9% compared to the same quarter last year. On average, equities analysts predict that Rayonier Inc. will post 0.4 earnings per share for the current fiscal year.

Rayonier Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date is Monday, September 16th. Rayonier’s dividend payout ratio (DPR) is presently 101.79%.

Wall Street Analyst Weigh In

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

Insider Transactions at Rayonier

In related news, Director V. Larkin Martin sold 10,011 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $30.57, for a total value of $306,036.27. Following the completion of the sale, the director now owns 40,168 shares of the company’s stock, valued at $1,227,935.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.83% of the company’s stock.

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.