Inspire Investing LLC Boosts Stock Position in Rayonier Inc. (NYSE:RYN)

Inspire Investing LLC boosted its holdings in Rayonier Inc. (NYSE:RYN) by 37.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,762 shares of the real estate investment trust’s stock after buying an additional 4,035 shares during the quarter. Inspire Investing LLC’s holdings in Rayonier were worth $429,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. purchased a new position in Rayonier in the first quarter valued at $26,000. GAMMA Investing LLC increased its holdings in Rayonier by 53.5% in the second quarter. GAMMA Investing LLC now owns 1,079 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 376 shares during the last quarter. Quest Partners LLC purchased a new position in Rayonier in the second quarter valued at $40,000. Fifth Third Bancorp increased its holdings in Rayonier by 83.7% in the second quarter. Fifth Third Bancorp now owns 1,449 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 660 shares during the last quarter. Finally, Covestor Ltd increased its holdings in Rayonier by 488.6% in the first quarter. Covestor Ltd now owns 1,554 shares of the real estate investment trust’s stock valued at $52,000 after buying an additional 1,290 shares during the last quarter. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Rayonier Price Performance

Shares of RYN opened at $31.87 on Friday. Rayonier Inc. has a fifty-two week low of $24.84 and a fifty-two week high of $35.29. The company has a market capitalization of $4.74 billion, a price-to-earnings ratio of 28.41 and a beta of 1.04. The firm has a 50-day simple moving average of $30.17 and a 200-day simple moving average of $30.58. 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 announced its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.02 earnings per share 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 business had revenue of $173.60 million for the quarter, compared to analyst estimates of $218.86 million. During the same quarter last year, the company posted $0.05 EPS. Rayonier’s quarterly revenue was down 16.9% on a year-over-year basis. On average, equities research analysts anticipate that Rayonier Inc. will post 0.4 earnings per share for the current year.

Rayonier Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.285 per share. The ex-dividend date is Monday, September 16th. This represents a $1.14 annualized dividend and a dividend yield of 3.58%. Rayonier’s dividend payout ratio (DPR) is 101.79%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $34.00 price objective on shares of Rayonier in a research note on Friday, June 14th. Truist Financial decreased their price objective on shares of Rayonier from $34.00 to $31.00 and set a “hold” rating for the company in a research note on Tuesday, July 16th. Finally, StockNews.com upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, August 17th.

Insider Transactions at Rayonier

In other news, Director V. Larkin Martin sold 10,011 shares of the stock in a transaction dated Wednesday, September 11th. The shares were 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 owns 40,168 shares in the company, valued at $1,227,935.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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.