Rayonier Inc. (NYSE:RYN) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its stake in shares of Rayonier Inc. (NYSE:RYN) by 7.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 72,466 shares of the real estate investment trust’s stock after selling 5,954 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Rayonier were worth $2,332,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Impax Asset Management Group plc increased its stake in 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 purchasing an additional 1,004,357 shares during the period. Teramo Advisors LLC purchased a new position in Rayonier in the 2nd quarter valued at about $9,309,000. Crossmark Global Holdings Inc. raised its holdings in Rayonier by 2,950.1% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 296,222 shares of the real estate investment trust’s stock valued at $9,532,000 after acquiring an additional 286,510 shares during the last quarter. Millennium Management LLC grew its holdings in 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 buying an additional 272,349 shares during the period. Finally, WINTON GROUP Ltd acquired a new position in shares of Rayonier in the 2nd quarter valued at $3,275,000. Institutional investors and hedge funds 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 completion of the sale, the director now owns 40,168 shares of the company’s stock, valued at $1,227,935.76. This trade represents a 19.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.83% of the company’s stock.

Wall Street Analysts Forecast Growth

RYN has been the subject of several recent research reports. Truist Financial increased 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. StockNews.com upgraded Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, November 16th.

Rayonier Stock Performance

Rayonier stock opened at $31.05 on Monday. Rayonier Inc. has a 12-month low of $27.40 and a 12-month high of $35.29. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.99 and a quick ratio of 1.85. The company has a market capitalization of $4.63 billion, a price-to-earnings ratio of 29.29 and a beta of 1.05. The firm’s fifty day moving average price is $31.38 and its 200 day moving average price is $30.34.

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

Rayonier Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be given a dividend of $0.285 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.14 annualized dividend and a dividend yield of 3.67%. Rayonier’s dividend payout ratio (DPR) is 107.55%.

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.