Crossmark Global Holdings Inc. Sells 902 Shares of Rayonier Inc. (NYSE:RYN)

Crossmark Global Holdings Inc. reduced its holdings in shares of Rayonier Inc. (NYSE:RYN) by 8.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,712 shares of the real estate investment trust’s stock after selling 902 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Rayonier were worth $283,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Advisors Asset Management Inc. bought a new stake in Rayonier during the first quarter worth $26,000. GAMMA Investing LLC raised its stake in shares of Rayonier by 53.5% in the second quarter. GAMMA Investing LLC now owns 1,079 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 376 shares during the period. Fifth Third Bancorp raised its stake in shares of Rayonier by 83.7% in the second quarter. Fifth Third Bancorp now owns 1,449 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 660 shares during the period. Covestor Ltd raised its stake in shares of Rayonier by 488.6% in the first quarter. Covestor Ltd now owns 1,554 shares of the real estate investment trust’s stock valued at $52,000 after buying an additional 1,290 shares during the period. Finally, Larson Financial Group LLC bought a new stake in shares of Rayonier in the first quarter valued at $62,000. 89.12% of the stock is currently owned by institutional investors.

Rayonier Stock Performance

NYSE:RYN opened at $30.82 on Thursday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.78 and a current ratio of 1.98. Rayonier Inc. has a 52-week low of $24.84 and a 52-week high of $35.29. The firm has a market cap of $4.59 billion, a price-to-earnings ratio of 27.52 and a beta of 1.04. The business’s fifty day moving average is $29.49 and its 200 day moving average is $30.74.

Rayonier (NYSE:RYN) last released its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.12). Rayonier had a net margin of 14.78% and a return on equity of 3.00%. The company had revenue of $173.60 million for the quarter, compared to the consensus estimate of $218.86 million. During the same quarter in the previous year, the firm posted $0.05 earnings per share. The business’s revenue for the quarter was down 16.9% compared to the same quarter last year. Research analysts predict that Rayonier Inc. will post 0.41 EPS for the current year.

Rayonier Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a dividend of $0.285 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.70%. Rayonier’s payout ratio is 101.79%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on RYN. Royal Bank of Canada restated a “sector perform” rating and issued a $34.00 target price on shares of Rayonier in a research note on Friday, June 14th. Truist Financial lowered their target price on Rayonier from $34.00 to $31.00 and set a “hold” rating on the stock in a research note on Tuesday, July 16th. Finally, StockNews.com upgraded Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, August 17th.

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.