Blue Trust Inc. Acquires 1,042 Shares of Rayonier Inc. (NYSE:RYN)

Blue Trust Inc. raised its position in shares of Rayonier Inc. (NYSE:RYNFree Report) by 539.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,235 shares of the real estate investment trust’s stock after purchasing an additional 1,042 shares during the quarter. Blue Trust Inc.’s holdings in Rayonier were worth $40,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in RYN. Allspring Global Investments Holdings LLC lifted its holdings in Rayonier by 525.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,551 shares of the real estate investment trust’s stock valued at $85,000 after purchasing an additional 2,143 shares in the last quarter. State of Michigan Retirement System lifted its stake in Rayonier by 2.4% in the first quarter. State of Michigan Retirement System now owns 33,493 shares of the real estate investment trust’s stock worth $1,113,000 after acquiring an additional 800 shares during the period. State of Alaska Department of Revenue lifted its position in shares of Rayonier by 0.5% during the first quarter. State of Alaska Department of Revenue now owns 84,739 shares of the real estate investment trust’s stock valued at $2,815,000 after buying an additional 439 shares during the last quarter. Retirement Systems of Alabama increased its holdings in shares of Rayonier by 0.3% during the first quarter. Retirement Systems of Alabama now owns 171,307 shares of the real estate investment trust’s stock valued at $5,694,000 after acquiring an additional 437 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Rayonier by 138.7% in the 1st quarter. BNP Paribas Financial Markets now owns 161,368 shares of the real estate investment trust’s stock worth $5,364,000 after buying an additional 93,768 shares during the period. 89.12% of the stock is currently owned by institutional investors.

Insider Activity

In related 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 value of $306,036.27. Following the sale, the director now directly owns 40,168 shares of the company’s stock, valued at approximately $1,227,935.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.83% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on RYN shares. Truist Financial increased their target price on Rayonier from $31.00 to $32.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. StockNews.com upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, August 17th.

Get Our Latest Analysis on RYN

Rayonier Trading Down 0.3 %

Shares of Rayonier stock opened at $31.13 on Friday. The company has a fifty day simple moving average of $31.45 and a 200-day simple moving average of $30.28. Rayonier Inc. has a 12-month low of $27.25 and a 12-month high of $35.29. The company has a current ratio of 1.98, a quick ratio of 1.78 and a debt-to-equity ratio of 0.75. The stock has a market cap of $4.64 billion, a price-to-earnings ratio of 31.13 and a beta of 1.04.

Rayonier (NYSE:RYNGet Free Report) 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). The business had revenue of $173.60 million for the quarter, compared to analyst estimates of $218.86 million. Rayonier had a return on equity of 3.00% and a net margin of 14.78%. Rayonier’s quarterly revenue was down 16.9% on a year-over-year basis. During the same quarter last year, the company posted $0.05 EPS. On average, equities analysts forecast that Rayonier Inc. will post 0.38 EPS for the current fiscal year.

Rayonier Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be given a dividend of $0.285 per share. The ex-dividend date is Tuesday, December 17th. This represents a $1.14 dividend on an annualized basis and a yield of 3.66%. Rayonier’s payout ratio is currently 114.00%.

Rayonier Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Rayonier (NYSE:RYN)

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