Mutual of America Capital Management LLC Reduces Stake in Rayonier Inc. (NYSE:RYN)

Mutual of America Capital Management LLC lowered its holdings in Rayonier Inc. (NYSE:RYN) by 3.5% during the second quarter, HoldingsChannel reports. The fund owned 78,420 shares of the real estate investment trust’s stock after selling 2,861 shares during the period. Mutual of America Capital Management LLC’s holdings in Rayonier were worth $2,281,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in RYN. Commerce Bank purchased a new position in shares of Rayonier in the 4th quarter valued at about $245,000. Treasurer of the State of North Carolina increased its holdings in shares of Rayonier by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 65,100 shares of the real estate investment trust’s stock valued at $2,175,000 after acquiring an additional 640 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Rayonier by 9.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 395,308 shares of the real estate investment trust’s stock valued at $13,207,000 after acquiring an additional 34,478 shares during the last quarter. Bollard Group LLC increased its holdings in shares of Rayonier by 0.9% in the 4th quarter. Bollard Group LLC now owns 68,880 shares of the real estate investment trust’s stock valued at $2,301,000 after acquiring an additional 583 shares during the last quarter. Finally, Cibc World Markets Corp purchased a new position in shares of Rayonier in the 4th quarter valued at about $1,523,000. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Rayonier Stock Up 1.1 %

Rayonier stock opened at $32.25 on Wednesday. Rayonier Inc. has a twelve month low of $24.84 and a twelve month high of $35.29. The stock has a 50 day moving average of $30.35 and a two-hundred day moving average of $30.45. 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 stock has a market capitalization of $4.80 billion, a price-to-earnings ratio of 28.79 and a beta of 1.04.

Rayonier (NYSE:RYN) last posted its quarterly earnings data 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). 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 analyst estimates of $218.86 million. During the same period in the previous year, the business posted $0.05 earnings per share. The firm’s revenue was down 16.9% compared to the same quarter last year. As a group, research analysts expect that Rayonier Inc. will post 0.4 earnings per share for the current year.

Rayonier Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given 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 yield of 3.53%. Rayonier’s payout ratio is 101.79%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RYN. Royal Bank of Canada reissued a “sector perform” rating and issued a $34.00 target price on shares of Rayonier in a research report on Friday, June 14th. Truist Financial decreased their target price on Rayonier from $34.00 to $31.00 and set a “hold” rating for the company in a research report on Tuesday, July 16th. Finally, StockNews.com raised Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, August 17th.

Insiders Place Their Bets

In other news, Director V. Larkin Martin sold 10,011 shares of the firm’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 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 approximately $1,227,935.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.83% of the stock is owned by insiders.

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.