Rayonier Inc. (NYSE:RYN) Shares Sold by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund trimmed its stake in shares of Rayonier Inc. (NYSE:RYN) by 15.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,403 shares of the real estate investment trust’s stock after selling 5,300 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Rayonier were worth $826,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of RYN. Vanguard Group Inc. lifted its stake in Rayonier by 0.3% during the first quarter. Vanguard Group Inc. now owns 20,802,946 shares of the real estate investment trust’s stock valued at $691,490,000 after buying an additional 67,646 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Rayonier by 1.2% in the 1st 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 acquiring an additional 196,571 shares in the last quarter. Norges Bank acquired a new position in Rayonier in the 4th quarter worth approximately $439,076,000. Charles Schwab Investment Management Inc. grew its position in Rayonier by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,337,632 shares of the real estate investment trust’s stock worth $78,100,000 after purchasing an additional 75,749 shares in the last quarter. Finally, Confluence Investment Management LLC acquired a new stake in Rayonier during the 1st quarter valued at $77,027,000. Institutional investors and hedge funds own 89.12% of the company’s stock.

Analyst Upgrades and Downgrades

RYN has been the subject of several recent analyst reports. StockNews.com raised Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, August 17th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $34.00 target price on shares of Rayonier in a research note on Friday, June 14th. Finally, Truist Financial dropped their target price on Rayonier from $34.00 to $31.00 and set a “hold” rating on the stock in a report on Tuesday, July 16th.

Rayonier Price Performance

Shares of NYSE:RYN opened at $30.84 on Wednesday. The firm has a market cap of $4.59 billion, a price-to-earnings ratio of 27.54 and a beta of 1.04. Rayonier Inc. has a 1 year low of $24.84 and a 1 year high of $35.29. The company has a current ratio of 1.98, a quick ratio of 1.78 and a debt-to-equity ratio of 0.75. The business has a fifty day simple moving average of $29.65 and a 200 day simple moving average of $30.64.

Rayonier (NYSE:RYN) last posted its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.12). The firm had revenue of $173.60 million for the quarter, compared to analysts’ expectations of $218.86 million. Rayonier had a return on equity of 3.00% and a net margin of 14.78%. The firm’s revenue for the quarter was down 16.9% on a year-over-year basis. During the same period last year, the business earned $0.05 earnings per share. As a group, sell-side analysts predict that Rayonier Inc. will post 0.41 earnings per share for the current fiscal year.

Rayonier Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 3.70%. The ex-dividend date is Monday, September 16th. Rayonier’s dividend payout ratio is 101.79%.

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.