Blair William & Co. IL Sells 4,500 Shares of Rayonier Inc. (NYSE:RYN)

Blair William & Co. IL lessened its stake in shares of Rayonier Inc. (NYSE:RYN) by 11.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,832 shares of the real estate investment trust’s stock after selling 4,500 shares during the quarter. Blair William & Co. IL’s holdings in Rayonier were worth $984,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Advisors Asset Management Inc. bought a new position in shares of Rayonier during the 1st quarter worth approximately $26,000. GAMMA Investing LLC increased its holdings in Rayonier by 53.5% during the 2nd 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 in the last quarter. Quest Partners LLC acquired a new stake in Rayonier during the 2nd quarter valued at $40,000. Fifth Third Bancorp increased its holdings in Rayonier by 83.7% during the 2nd quarter. Fifth Third Bancorp now owns 1,449 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 660 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. increased its holdings in Rayonier by 2,272.7% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 1,566 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 1,500 shares in the last quarter. Institutional investors own 89.12% of the company’s stock.

Insider Transactions at Rayonier

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

Rayonier Stock Up 1.1 %

NYSE RYN opened at $32.25 on Wednesday. The stock has a fifty day moving average of $30.35 and a 200-day moving average of $30.45. The stock has a market capitalization of $4.80 billion, a P/E ratio of 28.79 and a beta of 1.04. Rayonier Inc. has a 52 week low of $24.84 and a 52 week high of $35.29. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.78 and a current ratio of 1.98.

Rayonier (NYSE:RYN) last posted its quarterly earnings results 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). Rayonier had a return on equity of 3.00% and a net margin of 14.78%. The company had revenue of $173.60 million during the quarter, compared to the consensus estimate of $218.86 million. During the same quarter in the prior year, the business earned $0.05 earnings per share. The firm’s revenue for the quarter was down 16.9% on a year-over-year basis. On average, equities research analysts forecast that Rayonier Inc. will post 0.4 EPS for the current year.

Rayonier Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a $0.285 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.14 annualized dividend and a dividend yield of 3.53%. Rayonier’s dividend payout ratio is currently 101.79%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RYN. Truist Financial dropped their price target on Rayonier from $34.00 to $31.00 and set a “hold” rating for the company in a report on Tuesday, July 16th. StockNews.com raised Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, August 17th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $34.00 target price on shares of Rayonier in a research note on Friday, June 14th.

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.