Impax Asset Management Group plc trimmed its holdings in shares of Rayonier Inc. (NYSE:RYN - Free Report) by 3.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,593,452 shares of the real estate investment trust's stock after selling 221,736 shares during the period. Impax Asset Management Group plc owned approximately 4.43% of Rayonier worth $211,040,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Harbor Capital Advisors Inc. bought a new stake in shares of Rayonier in the third quarter valued at $75,000. Brighton Jones LLC purchased a new stake in Rayonier during the third quarter valued at about $211,000. International Assets Investment Management LLC lifted its position in Rayonier by 3,118.0% in the 3rd quarter. International Assets Investment Management LLC now owns 16,991 shares of the real estate investment trust's stock worth $528,000 after buying an additional 16,463 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of Rayonier in the 3rd quarter valued at $2,525,000. Finally, Allspring Global Investments Holdings LLC boosted its position in Rayonier by 53.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,999 shares of the real estate investment trust's stock valued at $97,000 after buying an additional 1,047 shares during the period. Institutional investors own 89.12% of the company's stock.
Insider Buying and Selling
In other 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 transaction, the director now owns 40,168 shares in the company, valued at $1,227,935.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.83% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on RYN shares. StockNews.com upgraded Rayonier from a "sell" rating to a "hold" rating in a research report on Saturday, August 17th. Truist Financial raised their target price on shares of Rayonier from $31.00 to $32.00 and gave the company a "hold" rating in a research note on Tuesday, October 15th.
Check Out Our Latest Report on RYN
Rayonier Trading Up 1.0 %
Shares of Rayonier stock traded up $0.32 on Tuesday, reaching $31.70. The company had a trading volume of 503,045 shares, compared to its average volume of 593,248. 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 firm's 50-day moving average price is $31.47 and its two-hundred day moving average price is $30.28. Rayonier Inc. has a 1 year low of $27.40 and a 1 year high of $35.29. The firm has a market cap of $4.72 billion, a price-to-earnings ratio of 31.68 and a beta of 1.05.
Rayonier (NYSE:RYN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.02 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.12). The firm had revenue of $173.60 million for the quarter, compared to the consensus estimate of $218.86 million. Rayonier had a return on equity of 3.00% and a net margin of 14.78%. The company's revenue was down 16.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.05 EPS. As a group, research analysts predict that Rayonier Inc. will post 0.38 earnings per share for the current fiscal year.
Rayonier Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders 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 dividend yield of 3.60%. The ex-dividend date is Tuesday, December 17th. Rayonier's payout ratio is currently 114.00%.
Rayonier Company Profile
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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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