Texas Permanent School Fund Corp Sells 20,969 Shares of Rayonier Inc. (NYSE:RYN)

Texas Permanent School Fund Corp trimmed its stake in Rayonier Inc. (NYSE:RYN) by 17.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,422 shares of the real estate investment trust’s stock after selling 20,969 shares during the period. Texas Permanent School Fund Corp’s holdings in Rayonier were worth $2,863,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of RYN. Advisors Asset Management Inc. purchased a new stake in shares of Rayonier in the 1st quarter worth $26,000. GAMMA Investing LLC increased its stake in shares of Rayonier by 53.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,079 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 376 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Rayonier in the 2nd quarter worth $40,000. Fifth Third Bancorp increased its stake in shares of Rayonier by 83.7% in the 2nd quarter. Fifth Third Bancorp now owns 1,449 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 660 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. increased its stake in shares of Rayonier by 2,272.7% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 1,566 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 1,500 shares in the last quarter. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Rayonier

In other news, Director V. Larkin Martin sold 10,011 shares of Rayonier 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 sale, the director now directly owns 40,168 shares of the company’s stock, valued at $1,227,935.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.83% of the company’s stock.

Rayonier Trading Up 1.7 %

Shares of RYN stock opened at $32.03 on Monday. Rayonier Inc. has a 52-week low of $24.84 and a 52-week high of $35.29. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.78 and a current ratio of 1.98. The firm has a market capitalization of $4.77 billion, a PE ratio of 28.60 and a beta of 1.04. The stock has a fifty day simple moving average of $29.86 and a two-hundred day simple moving average of $30.60.

Rayonier (NYSE:RYN) last issued its quarterly earnings results 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). The business had revenue of $173.60 million during 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 company’s quarterly revenue was down 16.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.05 EPS. On average, analysts predict that Rayonier Inc. will post 0.4 EPS for the current fiscal year.

Rayonier Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.285 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.14 annualized dividend and a dividend yield of 3.56%. Rayonier’s dividend payout ratio (DPR) is 101.79%.

Wall Street Analyst Weigh In

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

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.