Rayonier Inc. (NYSE:RYN) Shares Bought by Stifel Financial Corp

Stifel Financial Corp grew its position in Rayonier Inc. (NYSE:RYN) by 209.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,289 shares of the real estate investment trust’s stock after purchasing an additional 38,783 shares during the period. Stifel Financial Corp’s holdings in Rayonier were worth $1,843,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in RYN. V Square Quantitative Management LLC acquired a new stake in Rayonier in the third quarter valued at $25,000. Venturi Wealth Management LLC raised its stake in shares of Rayonier by 165.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,079 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 672 shares in the last quarter. Quest Partners LLC bought a new position in shares of Rayonier during the second quarter worth about $40,000. Blue Trust Inc. lifted its position in shares of Rayonier by 539.9% during the third quarter. Blue Trust Inc. now owns 1,235 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 1,042 shares during the last quarter. Finally, 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. Institutional investors and hedge funds own 89.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on RYN shares. StockNews.com raised Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Truist Financial raised their price objective on Rayonier from $31.00 to $32.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th.

Rayonier Stock Performance

RYN stock opened at $26.42 on Friday. Rayonier Inc. has a 1 year low of $26.14 and a 1 year high of $35.29. The stock’s fifty day moving average is $30.83 and its two-hundred day moving average is $30.40. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.85 and a current ratio of 1.99. The stock has a market capitalization of $3.94 billion, a price-to-earnings ratio of 24.92 and a beta of 1.02.

Rayonier (NYSE:RYN) last announced its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $211.21 million. During the same period in the prior year, the business earned $0.13 EPS. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. On average, research analysts predict that Rayonier Inc. will post 0.38 EPS for the current year.

Rayonier Increases Dividend

The business also recently announced a special dividend, which will be paid on Thursday, January 30th. Investors of record on Thursday, December 12th will be given a dividend of $1.80 per share. This is a positive change from Rayonier’s previous special dividend of $0.20. Rayonier’s payout ratio is 107.55%.

Rayonier announced that its Board of Directors has authorized a share buyback plan on Monday, December 2nd that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the real estate investment trust to purchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

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.