Stifel Financial Corp Increases Stock Position in Rayonier Inc. (NYSE:RYN)

Stifel Financial Corp increased its stake in shares of Rayonier Inc. (NYSE:RYN - Free Report) by 209.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,289 shares of the real estate investment trust's stock after purchasing an additional 38,783 shares during the period. Stifel Financial Corp's holdings in Rayonier were worth $1,843,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RYN. Impax Asset Management Group plc raised its position in shares of Rayonier by 17.3% in the second quarter. Impax Asset Management Group plc now owns 6,815,188 shares of the real estate investment trust's stock valued at $197,226,000 after buying an additional 1,004,357 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Rayonier by 26.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,352,691 shares of the real estate investment trust's stock valued at $107,890,000 after acquiring an additional 695,810 shares during the last quarter. Teramo Advisors LLC purchased a new position in shares of Rayonier during the 2nd quarter worth $9,309,000. Crossmark Global Holdings Inc. boosted its holdings in shares of Rayonier by 2,950.1% during the third quarter. Crossmark Global Holdings Inc. now owns 296,222 shares of the real estate investment trust's stock worth $9,532,000 after purchasing an additional 286,510 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of Rayonier by 56.7% in the second quarter. Millennium Management LLC now owns 752,847 shares of the real estate investment trust's stock valued at $21,900,000 after purchasing an additional 272,349 shares during the period. Hedge funds and other institutional investors own 89.12% of the company's stock.

Rayonier Trading Up 1.0 %

Shares of RYN traded up $0.27 during trading hours on Friday, hitting $26.42. The stock had a trading volume of 2,270,400 shares, compared to its average volume of 619,029. The company's fifty day simple moving average is $30.73 and its 200 day simple moving average is $30.37. Rayonier Inc. has a 12-month low of $26.14 and a 12-month high of $35.29. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.85 and a current ratio of 1.99. The firm has a market cap of $3.94 billion, a P/E ratio of 24.92 and a beta of 1.02.

Rayonier (NYSE:RYN - Get Free Report) last released 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 analyst estimates of $211.21 million. During the same period in the prior year, the firm earned $0.13 earnings per share. The business's revenue for the quarter was down 3.3% on a year-over-year basis. Equities research analysts forecast that Rayonier Inc. will post 0.38 EPS for the current fiscal year.

Rayonier declared that its Board of Directors has approved a share buyback program on Monday, December 2nd that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to buy up to 6.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.

Rayonier Increases Dividend

The firm also recently announced a special dividend, which will be paid on Thursday, January 30th. Stockholders of record on Thursday, December 12th will be paid a $1.80 dividend. This is an increase from Rayonier's previous special dividend of $0.20. Rayonier's dividend payout ratio (DPR) is currently 107.55%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Truist Financial increased their target price on Rayonier from $31.00 to $32.00 and gave the stock a "hold" rating in a research report on Tuesday, October 15th. StockNews.com upgraded shares of Rayonier from a "sell" rating to a "hold" rating in a report on Saturday, November 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.