Intech Investment Management LLC Sells 15,070 Shares of Rayonier Inc. (NYSE:RYN)

Intech Investment Management LLC trimmed its position in shares of Rayonier Inc. (NYSE:RYN) by 55.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,137 shares of the real estate investment trust’s stock after selling 15,070 shares during the period. Intech Investment Management LLC’s holdings in Rayonier were worth $391,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RYN. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Rayonier by 1.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 28,472 shares of the real estate investment trust’s stock valued at $828,000 after purchasing an additional 368 shares during the period. 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 worth $31,000 after purchasing an additional 376 shares during the period. Sei Investments Co. raised its position in Rayonier by 1.3% during the 2nd quarter. Sei Investments Co. now owns 30,341 shares of the real estate investment trust’s stock valued at $883,000 after purchasing an additional 391 shares in the last quarter. CWM LLC lifted its holdings in shares of Rayonier by 20.6% in the 3rd quarter. CWM LLC now owns 2,849 shares of the real estate investment trust’s stock worth $92,000 after buying an additional 487 shares during the period. Finally, Bank of Montreal Can grew its position in shares of Rayonier by 2.1% during the 2nd quarter. Bank of Montreal Can now owns 23,606 shares of the real estate investment trust’s stock worth $716,000 after buying an additional 490 shares in the last quarter. 89.12% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Rayonier

In related news, Director V. Larkin Martin sold 10,011 shares of the firm’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 transaction, the director now directly owns 40,168 shares of the company’s stock, valued at approximately $1,227,935.76. This trade represents a 19.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.83% of the company’s stock.

Rayonier Trading Up 0.8 %

Shares of Rayonier stock opened at $31.71 on Wednesday. The firm has a fifty day moving average price of $31.37 and a 200 day moving average price of $30.41. The stock has a market cap of $4.72 billion, a PE ratio of 29.90 and a beta of 1.02. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.99 and a quick ratio of 1.85. Rayonier Inc. has a 1 year low of $27.40 and a 1 year high of $35.29.

Rayonier (NYSE:RYN) last released its quarterly earnings data 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 net margin of 15.84% and a return on equity of 2.95%. The firm had revenue of $195.00 million during the quarter, compared to analysts’ expectations of $211.21 million. During the same period in the previous year, the firm posted $0.13 EPS. The firm’s quarterly revenue was down 3.3% on a year-over-year basis. Equities research analysts predict that Rayonier Inc. will post 0.38 earnings per share for the current year.

Rayonier declared that its Board of Directors has authorized a share repurchase plan on Monday, December 2nd that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Rayonier Increases Dividend

The firm also recently disclosed a special dividend, which will be paid on Thursday, January 30th. Stockholders of record on Thursday, December 12th will be given a $1.80 dividend. This is a boost from Rayonier’s previous special dividend of $0.20. Rayonier’s payout ratio is 107.55%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. StockNews.com upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Truist Financial lifted 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.

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.