Rayonier Inc. (NYSE:RYN) Shares Bought by Foresight Group Ltd Liability Partnership

Foresight Group Ltd Liability Partnership raised its holdings in Rayonier Inc. (NYSE:RYN) by 90.1% during the 2nd quarter, Holdings Channel reports. The firm owned 30,397 shares of the real estate investment trust’s stock after buying an additional 14,408 shares during the quarter. Rayonier makes up about 0.4% of Foresight Group Ltd Liability Partnership’s holdings, making the stock its 26th largest holding. Foresight Group Ltd Liability Partnership’s holdings in Rayonier were worth $884,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Rayonier by 0.3% in 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 purchasing an additional 67,646 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Rayonier by 1.2% in the first 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. Impax Asset Management Group plc lifted its position in shares of Rayonier by 17.3% in the second quarter. Impax Asset Management Group plc now owns 6,815,188 shares of the real estate investment trust’s stock valued at $197,226,000 after acquiring an additional 1,004,357 shares in the last quarter. Confluence Investment Management LLC purchased a new position in shares of Rayonier in the first quarter valued at approximately $77,027,000. Finally, Cohen & Steers Inc. purchased a new position in shares of Rayonier in the fourth quarter valued at approximately $51,265,000. 89.12% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Rayonier

In other news, Director V. Larkin Martin sold 10,011 shares of Rayonier stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $30.57, for a total value of $306,036.27. Following the completion of 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 this link. Company insiders own 0.83% of the company’s stock.

Rayonier Stock Performance

Shares of Rayonier stock opened at $31.58 on Thursday. Rayonier Inc. has a one year low of $24.84 and a one year high of $35.29. The company has a market cap of $4.70 billion, a price-to-earnings ratio of 28.20 and a beta of 1.04. 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 business’s 50 day moving average price is $30.02 and its 200 day moving average price is $30.56.

Rayonier (NYSE:RYN) last announced its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.12). Rayonier had a return on equity of 3.00% and a net margin of 14.78%. The company had revenue of $173.60 million for the quarter, compared to analysts’ expectations of $218.86 million. During the same quarter in the previous year, the business posted $0.05 EPS. The business’s quarterly revenue was down 16.9% compared to the same quarter last year. On average, research analysts predict that Rayonier Inc. will post 0.4 EPS for the current 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. The ex-dividend date is Monday, September 16th. This represents a $1.14 dividend on an annualized basis and a yield of 3.61%. Rayonier’s dividend payout ratio is currently 101.79%.

Analyst Upgrades and Downgrades

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

Rayonier 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.