Rayonier Inc. (NYSE:RYN) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its holdings in shares of Rayonier Inc. (NYSE:RYN - Free Report) by 50.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,380,020 shares of the real estate investment trust's stock after selling 3,412,725 shares during the period. JPMorgan Chase & Co. owned 2.27% of Rayonier worth $108,769,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC acquired a new stake in Rayonier in the third quarter valued at approximately $25,000. Venturi Wealth Management LLC grew its holdings in Rayonier by 165.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,079 shares of the real estate investment trust's stock valued at $35,000 after purchasing an additional 672 shares in the last quarter. Quest Partners LLC purchased a new stake in Rayonier during the 2nd quarter worth $40,000. Blue Trust Inc. lifted its holdings in Rayonier by 539.9% in the 3rd quarter. Blue Trust Inc. now owns 1,235 shares of the real estate investment trust's stock worth $40,000 after buying an additional 1,042 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. boosted its position in Rayonier by 2,272.7% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 1,566 shares of the real estate investment trust's stock valued at $46,000 after buying an additional 1,500 shares during the last quarter. 89.12% of the stock is currently owned by institutional investors and hedge funds.

Rayonier Stock Down 0.2 %

Shares of RYN traded down $0.05 during midday trading on Thursday, hitting $26.05. The company had a trading volume of 563,916 shares, compared to its average volume of 622,039. The stock has a market cap of $3.88 billion, a price-to-earnings ratio of 24.58 and a beta of 1.02. The company's 50 day moving average price is $29.69 and its 200 day moving average price is $30.12. 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 Inc. has a 52 week low of $25.46 and a 52 week high of $35.29.

Rayonier (NYSE:RYN - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.12 earnings per share 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 the consensus estimate of $211.21 million. During the same period in the prior year, the firm earned $0.13 earnings per share. The firm's quarterly revenue was down 3.3% compared to the same quarter last year. On average, equities research analysts predict that Rayonier Inc. will post 0.38 EPS for the current year.

Rayonier declared that its board has approved a stock buyback plan on Monday, December 2nd that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the real estate investment trust to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its stock is undervalued.

Rayonier Increases Dividend

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

Analyst Ratings Changes

A number of analysts have recently issued reports on RYN shares. StockNews.com raised Rayonier from a "sell" rating to a "hold" rating in a research report on Saturday, November 16th. Truist Financial lifted their price objective on Rayonier from $31.00 to $32.00 and gave the stock a "hold" rating in a report on Tuesday, October 15th.

Rayonier 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.