State of New Jersey Common Pension Fund D Sells 17,403 Shares of Rayonier Inc. (NYSE:RYN)

State of New Jersey Common Pension Fund D lessened its stake in shares of Rayonier Inc. (NYSE:RYN - Free Report) by 21.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,310 shares of the real estate investment trust's stock after selling 17,403 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Rayonier were worth $1,871,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of RYN. BNP Paribas Financial Markets lifted its holdings in shares of Rayonier by 138.7% during the first quarter. BNP Paribas Financial Markets now owns 161,368 shares of the real estate investment trust's stock valued at $5,364,000 after acquiring an additional 93,768 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Rayonier during the 1st quarter worth about $961,000. Price T Rowe Associates Inc. MD lifted its holdings in Rayonier by 1.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,294,936 shares of the real estate investment trust's stock valued at $541,645,000 after purchasing an additional 196,571 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Rayonier in the first quarter valued at about $729,000. Finally, SG Americas Securities LLC grew its stake in Rayonier by 308.5% during the second quarter. SG Americas Securities LLC now owns 31,717 shares of the real estate investment trust's stock worth $923,000 after buying an additional 23,953 shares during the last quarter. Institutional investors and hedge funds own 89.12% of the company's stock.

Insider Buying and Selling at Rayonier

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

Rayonier Price Performance

Shares of RYN stock traded up $0.04 during trading hours on Monday, reaching $31.91. 570,973 shares of the company were exchanged, compared to its average volume of 602,925. Rayonier Inc. has a fifty-two week low of $24.84 and a fifty-two week high of $35.29. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.98 and a quick ratio of 1.78. The stock's fifty day moving average is $30.23 and its two-hundred day moving average is $30.49. The company has a market cap of $4.75 billion, a price-to-earnings ratio of 28.46 and a beta of 1.04.

Rayonier (NYSE:RYN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.14 by ($0.12). The firm had revenue of $173.60 million during the quarter, compared to the consensus estimate of $218.86 million. Rayonier had a net margin of 14.78% and a return on equity of 3.00%. The firm's quarterly revenue was down 16.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.05 earnings per share. Sell-side analysts forecast that Rayonier Inc. will post 0.4 earnings per share for the current fiscal year.

Rayonier Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.285 per share. The ex-dividend date is Monday, September 16th. This represents a $1.14 annualized dividend and a yield of 3.57%. Rayonier's dividend payout ratio is currently 101.79%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on RYN. Royal Bank of Canada reiterated a "sector perform" rating and issued a $34.00 target price on shares of Rayonier in a research note on Friday, June 14th. StockNews.com upgraded Rayonier from a "sell" rating to a "hold" rating in a research report on Saturday, August 17th. Finally, Truist Financial decreased their target price on Rayonier from $34.00 to $31.00 and set a "hold" rating on the stock in a report on Tuesday, July 16th.

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.