International Assets Investment Management LLC grew its stake in shares of Rayonier Inc. (NYSE:RYN - Free Report) by 3,118.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,991 shares of the real estate investment trust's stock after purchasing an additional 16,463 shares during the quarter. International Assets Investment Management LLC's holdings in Rayonier were worth $528,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Benjamin F. Edwards & Company Inc. grew 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 worth $828,000 after purchasing an additional 368 shares during the last quarter. GAMMA Investing LLC increased its holdings 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 valued at $31,000 after acquiring an additional 376 shares in the last quarter. Sei Investments Co. increased its position in shares of Rayonier by 1.3% in the 2nd quarter. Sei Investments Co. now owns 30,341 shares of the real estate investment trust's stock valued at $883,000 after acquiring an additional 391 shares during the period. CWM LLC lifted its holdings 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 purchasing an additional 487 shares during the period. Finally, Bank of Montreal Can increased its holdings in 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 worth $716,000 after buying an additional 490 shares during the period. 89.12% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, Director V. Larkin Martin sold 10,011 shares of Rayonier 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 completion of the sale, the director now 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.83% of the company's stock.
Analyst Ratings Changes
A number of research firms recently weighed in on RYN. StockNews.com raised Rayonier from a "sell" rating to a "hold" rating in a report on Saturday, August 17th. Truist Financial raised their price objective on Rayonier from $31.00 to $32.00 and gave the stock a "hold" rating in a research report on Tuesday, October 15th.
Read Our Latest Research Report on RYN
Rayonier Price Performance
Shares of NYSE RYN traded down $0.21 during midday trading on Wednesday, hitting $31.47. The company had a trading volume of 878,014 shares, compared to its average volume of 594,573. The firm has a market capitalization of $4.69 billion, a price-to-earnings ratio of 31.70 and a beta of 1.05. The company has a quick ratio of 1.78, a current ratio of 1.98 and a debt-to-equity ratio of 0.75. The business has a 50-day simple moving average of $31.50 and a two-hundred day simple moving average of $30.29. Rayonier Inc. has a twelve month low of $27.40 and a twelve month high of $35.29.
Rayonier (NYSE:RYN - Get Free Report) last issued its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.14 by ($0.12). Rayonier had a net margin of 14.78% and a return on equity of 3.00%. The firm had revenue of $173.60 million during the quarter, compared to analyst estimates of $218.86 million. During the same quarter in the previous year, the business posted $0.05 EPS. Rayonier's revenue was down 16.9% compared to the same quarter last year. Equities research analysts anticipate that Rayonier Inc. will post 0.38 earnings per share for the current year.
Rayonier Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 3.62%. The ex-dividend date is Tuesday, December 17th. Rayonier's dividend payout ratio (DPR) is 114.00%.
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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