Confluence Investment Management LLC lowered its holdings in Rayonier Inc. (NYSE:RYN - Free Report) by 1.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,087,364 shares of the real estate investment trust's stock after selling 36,133 shares during the quarter. Confluence Investment Management LLC owned 1.40% of Rayonier worth $67,171,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the business. V Square Quantitative Management LLC acquired a new stake in shares of Rayonier during the 3rd quarter valued at about $25,000. Advisors Asset Management Inc. acquired a new stake in Rayonier in the 1st quarter valued at $26,000. GAMMA Investing LLC lifted its holdings in shares of Rayonier by 53.5% during the second quarter. GAMMA Investing LLC now owns 1,079 shares of the real estate investment trust's stock valued at $31,000 after acquiring an additional 376 shares during the period. Quest Partners LLC acquired a new stake in shares of Rayonier in the 2nd quarter valued at $40,000. Finally, Blue Trust Inc. increased its position in shares of Rayonier by 539.9% during the 3rd quarter. Blue Trust Inc. now owns 1,235 shares of the real estate investment trust's stock worth $40,000 after purchasing an additional 1,042 shares in the last quarter. 89.12% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In related news, Director V. Larkin Martin sold 10,011 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $30.57, for a total transaction of $306,036.27. Following the sale, the director now owns 40,168 shares in the company, valued at approximately $1,227,935.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.83% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on the company. Truist Financial lifted their target price on Rayonier from $31.00 to $32.00 and gave the company a "hold" rating in a research note on Tuesday, October 15th. StockNews.com upgraded Rayonier from a "sell" rating to a "hold" rating in a report on Saturday, August 17th.
Read Our Latest Analysis on Rayonier
Rayonier Stock Performance
RYN stock traded down $0.25 during trading hours on Friday, reaching $31.39. The stock had a trading volume of 205,103 shares, compared to its average volume of 594,733. 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 has a 50-day simple moving average of $31.54 and a 200 day simple moving average of $30.31. The stock has a market capitalization of $4.68 billion, a PE ratio of 29.85 and a beta of 1.05. Rayonier Inc. has a fifty-two week low of $27.40 and a fifty-two week high of $35.29.
Rayonier (NYSE:RYN - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.01). The firm had revenue of $195.00 million during the quarter, compared to analyst estimates of $211.21 million. Rayonier had a net margin of 15.84% and a return on equity of 2.93%. The business's quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.13 earnings per share. Analysts predict that Rayonier Inc. will post 0.38 EPS for the current fiscal year.
Rayonier Dividend Announcement
The company 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. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.14 annualized dividend and a yield of 3.63%. Rayonier's dividend payout ratio is 107.55%.
Rayonier Company Profile
(
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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