Rayonier Inc. (NYSE:RYN) Shares Sold by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. reduced its holdings in Rayonier Inc. (NYSE:RYN) by 0.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,847,476 shares of the real estate investment trust’s stock after selling 15,127 shares during the period. Diamond Hill Capital Management Inc. owned about 1.24% of Rayonier worth $53,743,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC grew its position in Rayonier by 3,240.9% during the 4th quarter. International Assets Investment Management LLC now owns 17,640 shares of the real estate investment trust’s stock worth $589,000 after purchasing an additional 17,112 shares during the period. BNP Paribas Financial Markets raised its position in Rayonier by 669.4% during the fourth quarter. BNP Paribas Financial Markets now owns 67,600 shares of the real estate investment trust’s stock valued at $2,259,000 after acquiring an additional 58,814 shares in the last quarter. Jump Financial LLC acquired a new position in Rayonier in the fourth quarter valued at approximately $615,000. Vanguard Personalized Indexing Management LLC boosted its position in Rayonier by 53.0% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 11,413 shares of the real estate investment trust’s stock worth $381,000 after purchasing an additional 3,954 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of Rayonier by 39.2% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 181,000 shares of the real estate investment trust’s stock worth $6,047,000 after purchasing an additional 51,000 shares during the period. Institutional investors and hedge funds own 89.12% of the company’s stock.

Analysts Set New Price Targets

RYN has been the topic of several analyst reports. StockNews.com upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, August 17th. Truist Financial cut their price target on shares of Rayonier from $34.00 to $31.00 and set a “hold” rating for the company in a report on Tuesday, July 16th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $34.00 price objective on shares of Rayonier in a report on Friday, June 14th.

Rayonier Trading Up 1.7 %

Shares of Rayonier stock opened at $32.03 on Friday. Rayonier Inc. has a fifty-two week low of $24.84 and a fifty-two week high of $35.29. The stock has a 50 day moving average of $29.86 and a 200 day moving average of $30.62. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of 28.60 and a beta of 1.04. 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 posted its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.12). Rayonier had a net margin of 14.78% and a return on equity of 3.00%. The company had revenue of $173.60 million during the quarter, compared to analyst estimates of $218.86 million. During the same period in the previous year, the company earned $0.05 EPS. The company’s quarterly revenue was down 16.9% compared to the same quarter last year. As a group, research analysts predict that Rayonier Inc. will post 0.4 earnings per share for the current year.

Rayonier Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date is Monday, September 16th. Rayonier’s payout ratio is 101.79%.

Insiders Place Their Bets

In other news, Director V. Larkin Martin sold 10,011 shares of Rayonier 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 directly owns 40,168 shares of the company’s stock, valued at $1,227,935.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.83% of the stock is owned by insiders.

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.