Centiva Capital LP Boosts Stake in Rayonier Inc. (NYSE:RYN)

Centiva Capital LP grew its stake in shares of Rayonier Inc. (NYSE:RYN - Free Report) by 534.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,365 shares of the real estate investment trust's stock after acquiring an additional 41,586 shares during the period. Centiva Capital LP's holdings in Rayonier were worth $1,589,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Rayonier by 1.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 28,472 shares of the real estate investment trust's stock worth $828,000 after buying an additional 368 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Rayonier by 53.5% during the second quarter. GAMMA Investing LLC now owns 1,079 shares of the real estate investment trust's stock worth $31,000 after buying an additional 376 shares during the period. Sei Investments Co. lifted its holdings in shares of Rayonier by 1.3% during the second quarter. Sei Investments Co. now owns 30,341 shares of the real estate investment trust's stock worth $883,000 after purchasing an additional 391 shares during the period. CWM LLC lifted its holdings in shares of Rayonier by 20.6% during the 3rd quarter. CWM LLC now owns 2,849 shares of the real estate investment trust's stock worth $92,000 after acquiring an additional 487 shares during the period. Finally, Bank of Montreal Can raised its position in shares of Rayonier by 2.1% in the 2nd quarter. Bank of Montreal Can now owns 23,606 shares of the real estate investment trust's stock valued at $716,000 after purchasing an additional 490 shares in the last quarter. Institutional investors own 89.12% of the company's stock.

Insider Buying and Selling at Rayonier

In other news, Director V. Larkin Martin sold 10,011 shares of the business's 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 of the company's stock, valued at $1,227,935.76. The trade was a 19.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.83% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Rayonier Stock Down 0.9 %

Shares of NYSE RYN traded down $0.29 during midday trading on Wednesday, hitting $31.42. The company's stock had a trading volume of 527,516 shares, compared to its average volume of 607,450. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.99 and a quick ratio of 1.85. Rayonier Inc. has a 1 year low of $27.40 and a 1 year high of $35.29. The business's fifty day simple moving average is $31.36 and its two-hundred day simple moving average is $30.42. The firm has a market capitalization of $4.68 billion, a price-to-earnings ratio of 29.92 and a beta of 1.02.

Rayonier (NYSE:RYN - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates of $0.13 by ($0.01). Rayonier had a net margin of 15.84% and a return on equity of 2.95%. The company had revenue of $195.00 million for the quarter, compared to the consensus estimate of $211.21 million. During the same quarter in the prior year, the firm earned $0.13 earnings per share. Rayonier's revenue for the quarter was down 3.3% compared to the same quarter last year. On average, equities analysts predict that Rayonier Inc. will post 0.38 EPS for the current year.

Rayonier declared that its Board of Directors has authorized a stock buyback plan on Monday, December 2nd that permits the company to buyback $300.00 million in shares. This buyback authorization permits the real estate investment trust to reacquire up to 6.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Rayonier Increases Dividend

The business also recently disclosed a special dividend, which will be paid on Thursday, January 30th. Shareholders of record on Thursday, December 12th will be issued 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 currently 107.55%.

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.