Principal Financial Group Inc. Has $10.03 Million Stake in Rayonier Inc. (NYSE:RYN)

Principal Financial Group Inc. cut its stake in Rayonier Inc. (NYSE:RYN - Free Report) by 31.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 311,632 shares of the real estate investment trust's stock after selling 145,251 shares during the quarter. Principal Financial Group Inc. owned approximately 0.21% of Rayonier worth $10,028,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Harbor Capital Advisors Inc. bought a new position in Rayonier during the 3rd quarter worth $75,000. Brighton Jones LLC bought a new position in Rayonier during the third quarter worth about $211,000. International Assets Investment Management LLC raised its stake 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 purchasing an additional 16,463 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in Rayonier in the 3rd quarter valued at about $2,525,000. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Rayonier by 53.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,999 shares of the real estate investment trust's stock worth $97,000 after purchasing an additional 1,047 shares in the last quarter. Institutional investors own 89.12% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on RYN. StockNews.com upgraded Rayonier from a "sell" rating to a "hold" rating in a research note on Saturday. Truist Financial upped their target price on Rayonier from $31.00 to $32.00 and gave the company a "hold" rating in a research report on Tuesday, October 15th.

Rayonier Stock Performance

Shares of NYSE RYN remained flat at $30.14 during trading hours on Tuesday. 177,734 shares of the company traded hands, compared to its average volume of 610,456. The firm has a fifty day moving average of $31.45 and a two-hundred day moving average of $30.32. The firm has a market cap of $4.49 billion, a P/E ratio of 28.43 and a beta of 1.05. The company has a current ratio of 1.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.71. 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 quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.12 earnings per share (EPS) 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 business had revenue of $195.00 million during the quarter, compared to the consensus estimate of $211.21 million. During the same quarter in the previous year, the business posted $0.13 EPS. The company's revenue for the quarter was down 3.3% on a year-over-year basis. As a group, sell-side analysts expect that Rayonier Inc. will post 0.38 EPS for the current fiscal year.

Rayonier Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date is Tuesday, December 17th. Rayonier's dividend payout ratio is 107.55%.

Insider Activity at Rayonier

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 value of $306,036.27. Following the completion of the transaction, the director now directly owns 40,168 shares in the company, valued at approximately $1,227,935.76. This trade represents a 19.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.83% of the stock is owned by insiders.

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.