Texas Permanent School Fund Corp Reduces Position in Rayonier Inc. (NYSE:RYN)

Texas Permanent School Fund Corp cut its holdings in Rayonier Inc. (NYSE:RYN - Free Report) by 17.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 98,422 shares of the real estate investment trust's stock after selling 20,969 shares during the quarter. Texas Permanent School Fund Corp owned about 0.07% of Rayonier worth $2,863,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the stock. CENTRAL TRUST Co lifted its position in Rayonier by 5.5% during the first quarter. CENTRAL TRUST Co now owns 6,433 shares of the real estate investment trust's stock valued at $214,000 after buying an additional 336 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Rayonier by 53.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,079 shares of the real estate investment trust's stock worth $31,000 after buying an additional 376 shares in the last quarter. Retirement Systems of Alabama grew its holdings in Rayonier by 0.3% during the first quarter. Retirement Systems of Alabama now owns 171,307 shares of the real estate investment trust's stock worth $5,694,000 after acquiring an additional 437 shares during the period. State of Alaska Department of Revenue lifted its position in shares of Rayonier by 0.5% during the 1st quarter. State of Alaska Department of Revenue now owns 84,739 shares of the real estate investment trust's stock valued at $2,815,000 after acquiring an additional 439 shares during the last quarter. Finally, Bollard Group LLC boosted its holdings in shares of Rayonier by 0.9% in the fourth quarter. Bollard Group LLC now owns 68,880 shares of the real estate investment trust's stock worth $2,301,000 after buying an additional 583 shares during the period. 89.12% of the stock is owned by institutional investors and hedge funds.

Rayonier Stock Performance

Shares of NYSE:RYN traded down $0.43 on Monday, hitting $31.60. The company had a trading volume of 453,059 shares, compared to its average volume of 595,977. The stock has a 50 day moving average price of $29.94 and a 200 day moving average price of $30.58. The company has a current ratio of 1.98, a quick ratio of 1.78 and a debt-to-equity ratio of 0.75. The stock has a market cap of $4.71 billion, a price-to-earnings ratio of 28.21 and a beta of 1.04. Rayonier Inc. has a 1-year low of $24.84 and a 1-year high of $35.29.

Rayonier (NYSE:RYN - Get Free Report) last released its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.12). Rayonier had a return on equity of 3.00% and a net margin of 14.78%. The company had revenue of $173.60 million for the quarter, compared to analyst estimates of $218.86 million. During the same period last year, the company posted $0.05 earnings per share. The business's revenue for the quarter was down 16.9% compared to the same quarter last year. Analysts expect that Rayonier Inc. will post 0.4 EPS for the current year.

Rayonier Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend is Monday, September 16th. Rayonier's payout ratio is currently 101.79%.

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. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.83% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Truist Financial cut their price objective on shares of Rayonier from $34.00 to $31.00 and set a "hold" rating on the stock in a research report on Tuesday, July 16th. StockNews.com upgraded shares of Rayonier from a "sell" rating to a "hold" rating in a research report on Saturday, August 17th. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $34.00 price target on shares of Rayonier in a research report on Friday, June 14th.

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.