Rayonier Inc. (NYSE:RYN) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its holdings in Rayonier Inc. (NYSE:RYN - Free Report) by 3.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 432,518 shares of the real estate investment trust's stock after selling 16,778 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.29% of Rayonier worth $13,918,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Boston Partners bought a new position in Rayonier during the first quarter valued at $957,000. GAMMA Investing LLC lifted its stake in Rayonier by 53.5% in the second quarter. GAMMA Investing LLC now owns 1,079 shares of the real estate investment trust's stock worth $31,000 after acquiring an additional 376 shares during the period. SG Americas Securities LLC raised its holdings in Rayonier by 308.5% in the second quarter. SG Americas Securities LLC now owns 31,717 shares of the real estate investment trust's stock worth $923,000 after purchasing an additional 23,953 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Rayonier by 20.8% in the second quarter. Assenagon Asset Management S.A. now owns 11,347 shares of the real estate investment trust's stock worth $330,000 after purchasing an additional 1,956 shares in the last quarter. Finally, Accordant Advisory Group Inc bought a new position in Rayonier in the second quarter worth about $62,000. Institutional investors own 89.12% of the company's stock.

Rayonier Price Performance

RYN stock traded down $0.24 during midday trading on Monday, reaching $31.63. The stock had a trading volume of 94,754 shares, compared to its average volume of 605,349. The company's fifty day simple moving average is $31.38 and its 200 day simple moving average is $30.40. The company has a current ratio of 1.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.71. The company has a market cap of $4.71 billion, a price-to-earnings ratio of 30.07 and a beta of 1.05. Rayonier Inc. has a 52-week low of $27.40 and a 52-week high of $35.29.

Rayonier (NYSE:RYN - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.12 earnings per share 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 analysts' expectations of $211.21 million. Rayonier had a net margin of 15.84% and a return on equity of 2.95%. The company's revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.13 EPS. As a group, sell-side analysts predict that Rayonier Inc. will post 0.38 earnings per share for the current fiscal year.

Rayonier Announces Dividend

The business 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 $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend is Tuesday, December 17th. Rayonier's dividend payout ratio (DPR) is presently 107.55%.

Wall Street Analysts Forecast Growth

RYN has been the subject of a number of recent research reports. StockNews.com upgraded shares of Rayonier from a "sell" rating to a "hold" rating in a report on Saturday, November 16th. Truist Financial upped their price objective on shares of Rayonier from $31.00 to $32.00 and gave the company a "hold" rating in a report on Tuesday, October 15th.

Insiders Place Their Bets

In other Rayonier news, Director V. Larkin Martin sold 10,011 shares of the firm's stock in a transaction on 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 sale, the director now directly owns 40,168 shares of the company's stock, valued at $1,227,935.76. This trade represents a 19.95 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.83% of the company's stock.

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.