Rayonier Inc. (NYSE:RYN) Stake Trimmed by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its position in Rayonier Inc. (NYSE:RYN - Free Report) by 58.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,500 shares of the real estate investment trust's stock after selling 45,141 shares during the period. Thrivent Financial for Lutherans' holdings in Rayonier were worth $1,014,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC raised its position 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 acquiring an additional 23,953 shares during the period. Edgestream Partners L.P. purchased a new stake in Rayonier in the 2nd quarter valued at about $732,000. Boston Partners purchased a new position in shares of Rayonier in the 1st quarter valued at $957,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Rayonier in the 3rd quarter worth $2,525,000. Finally, WINTON GROUP Ltd purchased a new position in Rayonier in the 2nd quarter worth $3,275,000. Institutional investors own 89.12% of the company's stock.

Insider Transactions at Rayonier

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

Rayonier Stock Up 0.8 %

Shares of NYSE RYN traded up $0.24 during mid-day trading on Tuesday, hitting $31.71. The company had a trading volume of 650,020 shares, compared to its average volume of 607,782. The business's 50-day simple moving average is $31.37 and its 200 day simple moving average is $30.41. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.99 and a quick ratio of 1.85. Rayonier Inc. has a 1-year low of $27.40 and a 1-year high of $35.29. The company has a market capitalization of $4.72 billion, a PE ratio of 29.90 and a beta of 1.02.

Rayonier (NYSE:RYN - Get Free Report) last issued its quarterly earnings data 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 return on equity of 2.95% and a net margin of 15.84%. The business had revenue of $195.00 million for the quarter, compared to analysts' expectations of $211.21 million. During the same period in the previous year, the business posted $0.13 earnings per share. The company's revenue for the quarter was down 3.3% on a year-over-year basis. On average, analysts predict that Rayonier Inc. will post 0.38 earnings per share for the current year.

Rayonier announced that its Board of Directors has initiated a stock repurchase program on Monday, December 2nd that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to reacquire up to 6.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

Rayonier Increases Dividend

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on RYN. Truist Financial boosted their price target on shares of Rayonier from $31.00 to $32.00 and gave the stock a "hold" rating in a report on Tuesday, October 15th. StockNews.com upgraded shares of Rayonier from a "sell" rating to a "hold" rating in a research 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.