Crossmark Global Holdings Inc. grew its holdings in shares of Rayonier Inc. (NYSE:RYN - Free Report) by 2,950.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 296,222 shares of the real estate investment trust's stock after buying an additional 286,510 shares during the quarter. Crossmark Global Holdings Inc. owned 0.20% of Rayonier worth $9,532,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its stake in Rayonier by 525.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,551 shares of the real estate investment trust's stock worth $85,000 after buying an additional 2,143 shares in the last quarter. Texas Permanent School Fund Corp raised its holdings in Rayonier by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 119,391 shares of the real estate investment trust's stock worth $3,969,000 after purchasing an additional 1,589 shares in the last quarter. Swiss National Bank increased its stake in shares of Rayonier by 0.3% in the 1st quarter. Swiss National Bank now owns 278,200 shares of the real estate investment trust's stock worth $9,247,000 after acquiring an additional 700 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Rayonier in the 1st quarter worth about $729,000. Finally, Russell Investments Group Ltd. grew its position in Rayonier by 108.9% during the 1st quarter. Russell Investments Group Ltd. now owns 541,344 shares of the real estate investment trust's stock valued at $17,995,000 after purchasing an additional 282,145 shares during the last quarter. 89.12% of the stock is currently owned by hedge funds and other institutional investors.
Rayonier Trading Down 2.5 %
Shares of NYSE:RYN traded down $0.76 during trading hours on Monday, hitting $30.23. 939,925 shares of the company's stock traded hands, compared to its average volume of 600,924. Rayonier Inc. has a 1 year low of $27.40 and a 1 year high of $35.29. The business has a fifty day moving average price of $31.53 and a 200-day moving average price of $30.31. The firm has a market capitalization of $4.50 billion, a P/E ratio of 28.52 and a beta of 1.05. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.99 and a quick ratio of 1.78.
Rayonier (NYSE:RYN - Get Free Report) last posted its earnings results 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). The company had revenue of $195.00 million for the quarter, compared to analysts' expectations of $211.21 million. Rayonier had a return on equity of 2.95% and a net margin of 15.84%. The firm's quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.13 EPS. Equities analysts expect that Rayonier Inc. will post 0.38 earnings per share for the current year.
Rayonier Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be given a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 3.77%. The ex-dividend date is Tuesday, December 17th. Rayonier's payout ratio is 107.55%.
Insider Buying and Selling at Rayonier
In related news, Director V. Larkin Martin sold 10,011 shares of the firm's 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 transaction, the director now directly owns 40,168 shares of the company's stock, valued at approximately $1,227,935.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.83% of the stock is owned by corporate insiders.
Analyst Ratings Changes
A number of analysts have recently issued reports on the stock. Truist Financial raised their price target on shares of Rayonier from $31.00 to $32.00 and gave the company a "hold" rating in a report on Tuesday, October 15th. StockNews.com cut Rayonier from a "hold" rating to a "sell" rating in a report on Friday.
Get Our Latest Analysis on RYN
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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