Holocene Advisors LP Takes Position in Rayonier Inc. (NYSE:RYN)

Holocene Advisors LP bought a new position in shares of Rayonier Inc. (NYSE:RYN - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 74,573 shares of the real estate investment trust's stock, valued at approximately $2,400,000. Holocene Advisors LP owned about 0.05% of Rayonier at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RYN. V Square Quantitative Management LLC acquired a new stake in Rayonier during the 3rd quarter worth about $25,000. GAMMA Investing LLC raised its position in Rayonier by 53.5% during the second quarter. GAMMA Investing LLC now owns 1,079 shares of the real estate investment trust's stock valued at $31,000 after acquiring an additional 376 shares in the last quarter. Venturi Wealth Management LLC raised its position in Rayonier by 165.1% during the third quarter. Venturi Wealth Management LLC now owns 1,079 shares of the real estate investment trust's stock valued at $35,000 after acquiring an additional 672 shares in the last quarter. Blue Trust Inc. lifted its holdings in Rayonier by 539.9% in the third quarter. Blue Trust Inc. now owns 1,235 shares of the real estate investment trust's stock valued at $40,000 after acquiring an additional 1,042 shares during the period. Finally, Quest Partners LLC purchased a new stake in Rayonier in the 2nd quarter worth approximately $40,000. 89.12% of the stock is currently owned by institutional investors and hedge funds.

Rayonier Price Performance

Shares of Rayonier stock traded up $0.22 during mid-day trading on Friday, reaching $31.46. 795,318 shares of the stock traded hands, compared to its average volume of 608,490. The stock has a market capitalization of $4.69 billion, a PE ratio of 29.79 and a beta of 1.02. The business has a 50-day moving average of $31.35 and a 200 day moving average of $30.43. Rayonier Inc. has a fifty-two week low of $27.40 and a fifty-two week high of $35.29. The company has a quick ratio of 1.85, a current ratio of 1.99 and a debt-to-equity ratio of 0.71.

Rayonier (NYSE:RYN - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). Rayonier had a net margin of 15.84% and a return on equity of 2.95%. The firm had revenue of $195.00 million during the quarter, compared to analyst estimates of $211.21 million. During the same period in the prior year, the company posted $0.13 earnings per share. The firm's revenue for the quarter was down 3.3% compared to the same quarter last year. On average, 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 repurchase plan on Monday, December 2nd that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to buy up to 6.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its stock is undervalued.

Rayonier Increases Dividend

The firm also recently disclosed a special dividend, which will be paid on Thursday, January 30th. Investors of record on Thursday, December 12th will be paid a dividend of $1.80 per share. This is a boost from Rayonier's previous special dividend of $0.20. Rayonier's dividend payout ratio is currently 107.55%.

Insider Buying and Selling at Rayonier

In other Rayonier 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 transaction, the director now owns 40,168 shares of the company's stock, valued at approximately $1,227,935.76. The trade was a 19.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.83% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. StockNews.com upgraded shares of Rayonier from a "sell" rating to a "hold" rating in a research report on Saturday, November 16th. Truist Financial boosted their price objective on Rayonier from $31.00 to $32.00 and gave the company a "hold" rating in a research report on Tuesday, October 15th.

About Rayonier

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.