Rayonier Inc. (NYSE:RYN) Holdings Lowered by Confluence Investment Management LLC

Confluence Investment Management LLC trimmed its holdings in Rayonier Inc. (NYSE:RYN - Free Report) by 1.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,087,364 shares of the real estate investment trust's stock after selling 36,133 shares during the period. Confluence Investment Management LLC owned about 1.40% of Rayonier worth $67,171,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its stake in Rayonier by 138.7% during the 1st 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 last quarter. GSA Capital Partners LLP bought a new stake in Rayonier in the first quarter valued at about $961,000. Price T Rowe Associates Inc. MD increased its holdings in Rayonier by 1.2% in the first 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 buying an additional 196,571 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Rayonier during the first quarter valued at approximately $729,000. Finally, SG Americas Securities LLC lifted its holdings in Rayonier by 308.5% during the 2nd 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. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

Rayonier Stock Performance

Shares of NYSE:RYN traded down $0.66 during trading on Friday, hitting $30.98. 1,209,305 shares of the company traded hands, compared to its average volume of 599,361. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of 29.85 and a beta of 1.05. Rayonier Inc. has a one year low of $27.40 and a one year high of $35.29. The company has a quick ratio of 1.78, a current ratio of 1.98 and a debt-to-equity ratio of 0.75. The business's fifty day moving average is $31.54 and its 200-day moving average is $30.31.

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 company had revenue of $195.00 million for the quarter, compared to the consensus estimate of $211.21 million. Rayonier had a return on equity of 2.93% and a net margin of 15.84%. Rayonier's quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.13 earnings per share. As a group, equities analysts predict that Rayonier Inc. will post 0.38 earnings per share for the current fiscal year.

Rayonier Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be paid a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend is Tuesday, December 17th. Rayonier's payout ratio is 107.55%.

Insiders Place Their Bets

In other news, Director V. Larkin Martin sold 10,011 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 40,168 shares in the company, valued at approximately $1,227,935.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.83% of the stock is owned by insiders.

Analysts Set New Price Targets

RYN has been the topic of several research reports. StockNews.com raised Rayonier from a "sell" rating to a "hold" rating in a research report on Saturday, August 17th. Truist Financial increased their target price on shares of Rayonier from $31.00 to $32.00 and gave the stock a "hold" rating in a report on Tuesday, October 15th.

Rayonier Company Profile

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.