Diamond Hill Capital Management Inc. Has $56.56 Million Stock Holdings in Rayonier Inc. (NYSE:RYN)

Diamond Hill Capital Management Inc. lessened its holdings in Rayonier Inc. (NYSE:RYN - Free Report) by 4.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,757,630 shares of the real estate investment trust's stock after selling 89,846 shares during the quarter. Diamond Hill Capital Management Inc. owned 1.18% of Rayonier worth $56,561,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. State of New Jersey Common Pension Fund D boosted its holdings in shares of Rayonier by 1.2% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 65,078 shares of the real estate investment trust's stock valued at $2,094,000 after purchasing an additional 768 shares in the last quarter. Crossmark Global Holdings Inc. lifted its stake in shares of Rayonier by 2,950.1% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 296,222 shares of the real estate investment trust's stock valued at $9,532,000 after acquiring an additional 286,510 shares during the last quarter. Covestor Ltd lifted its stake in shares of Rayonier by 135.7% in the 3rd quarter. Covestor Ltd now owns 1,782 shares of the real estate investment trust's stock valued at $57,000 after acquiring an additional 1,026 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of Rayonier in the 3rd quarter valued at $75,000. Finally, Brighton Jones LLC bought a new position in shares of Rayonier in the 3rd quarter valued at $211,000. Institutional investors and hedge funds own 89.12% of the company's stock.

Rayonier Trading Down 2.0 %

NYSE:RYN traded down $0.63 during trading hours on Monday, hitting $30.36. 239,580 shares of the company were exchanged, compared to its average volume of 597,710. The stock has a market capitalization of $4.52 billion, a price-to-earnings ratio of 28.67 and a beta of 1.05. The company has a current ratio of 1.99, a quick ratio of 1.78 and a debt-to-equity ratio of 0.71. Rayonier Inc. has a one year low of $27.40 and a one year high of $35.29. The company has a fifty day simple moving average of $31.54 and a 200 day simple moving average of $30.31.

Rayonier (NYSE:RYN - Get Free Report) last issued its quarterly 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). Rayonier had a return on equity of 2.95% and a net margin of 15.84%. The business had revenue of $195.00 million for the quarter, compared to analyst estimates of $211.21 million. During the same quarter in the previous year, the business posted $0.13 earnings per share. The business's revenue was down 3.3% on a year-over-year basis. Sell-side analysts expect that Rayonier Inc. will post 0.38 EPS for the current fiscal year.

Rayonier Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a dividend of $0.285 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.14 dividend on an annualized basis and a yield of 3.75%. Rayonier's payout ratio is currently 107.55%.

Analyst Ratings Changes

A number of brokerages have recently commented on RYN. StockNews.com cut Rayonier from a "hold" rating to a "sell" rating in a research note on Friday. Truist Financial increased their price target on Rayonier from $31.00 to $32.00 and gave the company a "hold" rating in a research note on Tuesday, October 15th.

Insiders Place Their Bets

In other Rayonier news, Director V. Larkin Martin sold 10,011 shares of the stock in a transaction dated Wednesday, September 11th. The stock was 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 directly owns 40,168 shares in the company, valued at approximately $1,227,935.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.83% of the company's stock.

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.