Rayonier Inc. (NYSE:RYN) Shares Sold by Bfsg LLC

Bfsg LLC cut its stake in Rayonier Inc. (NYSE:RYN) by 3.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,394 shares of the real estate investment trust’s stock after selling 2,258 shares during the period. Bfsg LLC’s holdings in Rayonier were worth $2,169,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in RYN. CWM LLC increased its stake in shares of Rayonier by 20.6% in the third quarter. CWM LLC now owns 2,849 shares of the real estate investment trust’s stock valued at $92,000 after purchasing an additional 487 shares during the period. Handelsbanken Fonder AB grew its holdings in Rayonier by 1.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 40,939 shares of the real estate investment trust’s stock worth $1,317,000 after buying an additional 600 shares in the last quarter. Algert Global LLC increased its position in Rayonier by 16.9% in the 2nd quarter. Algert Global LLC now owns 98,411 shares of the real estate investment trust’s stock valued at $2,863,000 after acquiring an additional 14,221 shares during the period. The Manufacturers Life Insurance Company raised its stake in Rayonier by 2.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 449,296 shares of the real estate investment trust’s stock valued at $13,070,000 after acquiring an additional 11,604 shares in the last quarter. Finally, Millennium Management LLC boosted its position in Rayonier by 56.7% during the 2nd quarter. Millennium Management LLC now owns 752,847 shares of the real estate investment trust’s stock worth $21,900,000 after acquiring an additional 272,349 shares during the period. 89.12% of the stock is currently owned by institutional investors.

Insider Transactions at Rayonier

In other news, Director V. Larkin Martin sold 10,011 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $30.57, for a total transaction of $306,036.27. Following the sale, the director now directly owns 40,168 shares of the company’s stock, valued at $1,227,935.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.83% of the company’s stock.

Rayonier Stock Down 0.7 %

RYN opened at $32.09 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.78 and a current ratio of 1.98. The company has a market capitalization of $4.78 billion, a PE ratio of 32.09 and a beta of 1.04. The stock’s fifty day moving average is $30.98 and its 200-day moving average is $30.30. Rayonier Inc. has a one year low of $24.84 and a one year high of $35.29.

Rayonier (NYSE:RYN) last issued its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.02 EPS 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 during the quarter, compared to the consensus estimate of $218.86 million. During the same quarter last year, the firm posted $0.05 earnings per share. Rayonier’s revenue was down 16.9% compared to the same quarter last year. On average, equities analysts predict that Rayonier Inc. will post 0.38 EPS for the current fiscal year.

Rayonier Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.285 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.55%. Rayonier’s dividend payout ratio (DPR) is presently 114.00%.

Analyst Upgrades and Downgrades

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

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.