UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 249,173 Shares of Rayonier Inc. (NYSE:RYN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Rayonier Inc. (NYSE:RYN - Free Report) by 119.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 457,370 shares of the real estate investment trust's stock after buying an additional 249,173 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.31% of Rayonier worth $14,718,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC grew its holdings in shares of Rayonier by 308.5% during 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. Edgestream Partners L.P. purchased a new position in shares of Rayonier during the second quarter worth about $732,000. Sequoia Financial Advisors LLC purchased a new position in shares of Rayonier during the third quarter worth about $2,525,000. WINTON GROUP Ltd purchased a new position in shares of Rayonier during the second quarter worth about $3,275,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Rayonier by 148.4% during the second quarter. Dimensional Fund Advisors LP now owns 120,462 shares of the real estate investment trust's stock worth $3,504,000 after purchasing an additional 71,961 shares in the last quarter. 89.12% of the stock is currently owned by institutional investors.

Rayonier Price Performance

RYN traded up $0.22 during midday trading on Friday, hitting $31.46. The stock had a trading volume of 795,318 shares, compared to its average volume of 715,543. The company has a market cap of $4.69 billion, a P/E ratio of 29.68 and a beta of 1.02. The business has a fifty day moving average of $31.33 and a 200 day moving average of $30.44. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.85 and a current ratio of 1.99. Rayonier Inc. has a 1 year low of $27.40 and a 1 year high of $35.29.

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 analysts' consensus estimates of $0.13 by ($0.01). The company had revenue of $195.00 million for 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 business's revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period last year, the company posted $0.13 EPS. As a group, equities analysts forecast that Rayonier Inc. will post 0.38 earnings per share for the current fiscal year.

Rayonier Increases Dividend

The business also recently disclosed a special dividend, which will be paid on Thursday, January 30th. Stockholders of record on Thursday, December 12th will be paid a dividend of $1.80 per share. This is a positive change from Rayonier's previous special dividend of $0.20. Rayonier's dividend payout ratio is 107.55%.

Rayonier declared that its board has initiated a share repurchase program on Monday, December 2nd that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the real estate investment trust to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RYN. StockNews.com raised Rayonier from a "sell" rating to a "hold" rating in a report on Saturday, November 16th. Truist Financial boosted their price objective on Rayonier from $31.00 to $32.00 and gave the stock a "hold" rating in a report on Tuesday, October 15th.

Insider Activity

In related news, Director V. Larkin Martin sold 10,011 shares of the company'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 owns 40,168 shares in the company, valued at $1,227,935.76. This represents a 19.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.83% of the company's stock.

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.