Oppenheimer Asset Management Inc. Takes Position in Rayonier Inc. (NYSE:RYN)

Oppenheimer Asset Management Inc. bought a new position in shares of Rayonier Inc. (NYSE:RYN) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 9,650 shares of the real estate investment trust’s stock, valued at approximately $311,000.

Other large investors have also recently bought and sold shares of the company. Impax Asset Management Group plc grew its stake in shares of Rayonier by 17.3% in the second quarter. Impax Asset Management Group plc now owns 6,815,188 shares of the real estate investment trust’s stock valued at $197,226,000 after buying an additional 1,004,357 shares in the last quarter. Teramo Advisors LLC bought a new position in shares of Rayonier in the 2nd quarter valued at about $9,309,000. Crossmark Global Holdings Inc. increased its stake in shares of Rayonier by 2,950.1% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 296,222 shares of the real estate investment trust’s stock worth $9,532,000 after purchasing an additional 286,510 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Rayonier by 56.7% in the 2nd quarter. Millennium Management LLC now owns 752,847 shares of the real estate investment trust’s stock valued at $21,900,000 after purchasing an additional 272,349 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in Rayonier by 1.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,294,936 shares of the real estate investment trust’s stock valued at $541,645,000 after purchasing an additional 196,571 shares during the last quarter. 89.12% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Rayonier news, Director V. Larkin Martin sold 10,011 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $30.57, for a total transaction of $306,036.27. Following the completion of the sale, the director now directly owns 40,168 shares in the company, valued at $1,227,935.76. This represents a 19.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.83% of the stock is owned by company insiders.

Rayonier Price Performance

Shares of NYSE RYN opened at $30.15 on Thursday. The firm has a market cap of $4.49 billion, a P/E ratio of 28.44 and a beta of 1.05. The business’s 50 day moving average is $31.42 and its 200-day moving average is $30.32. The company has a current ratio of 1.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.71. Rayonier Inc. has a 1-year low of $27.40 and a 1-year high of $35.29.

Rayonier (NYSE:RYN) last posted its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). Rayonier had a return on equity of 2.95% and a net margin of 15.84%. The firm had revenue of $195.00 million for the quarter, compared to analyst estimates of $211.21 million. During the same period in the prior year, the business posted $0.13 EPS. The firm’s quarterly revenue was down 3.3% compared to the same quarter last year. Equities research analysts predict that Rayonier Inc. will post 0.38 earnings per share for the current year.

Rayonier Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be issued a dividend of $0.285 per share. The ex-dividend date is Tuesday, December 17th. This represents a $1.14 annualized dividend and a dividend yield of 3.78%. Rayonier’s dividend payout ratio is presently 107.55%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RYN. StockNews.com upgraded Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Truist Financial raised their price target on Rayonier from $31.00 to $32.00 and gave the company a “hold” rating in a report on Tuesday, October 15th.

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.