Horizon Kinetics Asset Management LLC Sells 24,522 Shares of Rayonier Inc. (NYSE:RYN)

Horizon Kinetics Asset Management LLC cut its position in Rayonier Inc. (NYSE:RYN - Free Report) by 28.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,644 shares of the real estate investment trust's stock after selling 24,522 shares during the quarter. Horizon Kinetics Asset Management LLC's holdings in Rayonier were worth $1,952,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on RYN. Truist Financial upped their target price on Rayonier from $31.00 to $32.00 and gave the company a "hold" rating in a report on Tuesday, October 15th. StockNews.com raised shares of Rayonier from a "sell" rating to a "hold" rating in a research note on Saturday, November 16th.

Insiders Place Their Bets

In other Rayonier news, Director V. Larkin Martin sold 10,011 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $30.57, for a total value of $306,036.27. Following the transaction, the director now owns 40,168 shares in the company, valued at approximately $1,227,935.76. This represents a 19.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.83% of the company's stock.

Rayonier Trading Down 0.4 %

Shares of NYSE:RYN traded down $0.14 during midday trading on Tuesday, reaching $31.48. The company's stock had a trading volume of 352,976 shares, compared to its average volume of 609,477. Rayonier Inc. has a fifty-two week low of $27.40 and a fifty-two week high of $35.29. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.85 and a current ratio of 1.99. The firm has a 50 day moving average price of $31.38 and a two-hundred day moving average price of $30.35. The firm has a market capitalization of $4.69 billion, a price-to-earnings ratio of 29.68 and a beta of 1.05.

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 (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.01). The business had revenue of $195.00 million during the quarter, compared to analyst estimates of $211.21 million. Rayonier had a net margin of 15.84% and a return on equity of 2.95%. Rayonier's quarterly revenue was down 3.3% compared to the same quarter last year. During the same period last year, the firm posted $0.13 earnings per share. As a group, analysts forecast that Rayonier Inc. will post 0.38 earnings per share for the current year.

Rayonier Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.62%. The ex-dividend date is Tuesday, December 17th. Rayonier's dividend payout ratio is presently 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.