Millennium Management LLC Raises Position in Rayonier Inc. (NYSE:RYN)

Millennium Management LLC lifted its stake in Rayonier Inc. (NYSE:RYN) by 56.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 752,847 shares of the real estate investment trust’s stock after purchasing an additional 272,349 shares during the period. Millennium Management LLC owned 0.51% of Rayonier worth $21,900,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. BNP Paribas Financial Markets increased its position in Rayonier by 138.7% in the first quarter. BNP Paribas Financial Markets now owns 161,368 shares of the real estate investment trust’s stock worth $5,364,000 after buying an additional 93,768 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Rayonier in the 1st quarter worth approximately $961,000. Price T Rowe Associates Inc. MD raised its stake in Rayonier by 1.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,294,936 shares of the real estate investment trust’s stock worth $541,645,000 after acquiring an additional 196,571 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in Rayonier during the first quarter valued at approximately $729,000. Finally, SG Americas Securities LLC lifted its holdings in Rayonier by 308.5% during the second quarter. SG Americas Securities LLC now owns 31,717 shares of the real estate investment trust’s stock valued at $923,000 after purchasing an additional 23,953 shares in the last quarter. 89.12% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on RYN shares. Truist Financial reduced their price objective on shares of Rayonier from $34.00 to $31.00 and set a “hold” rating for the company in a research note on Tuesday, July 16th. 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, StockNews.com upgraded Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, August 17th.

Rayonier Trading Up 0.6 %

Rayonier stock opened at $31.78 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.98 and a quick ratio of 1.78. The firm’s 50 day moving average price is $30.70 and its 200-day moving average price is $30.40. Rayonier Inc. has a 1 year low of $24.84 and a 1 year high of $35.29. The stock has a market cap of $4.73 billion, a P/E ratio of 28.17 and a beta of 1.04.

Rayonier (NYSE:RYN) last announced 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). Rayonier had a net margin of 14.78% and a return on equity of 3.00%. The company had revenue of $173.60 million during the quarter, compared to the consensus estimate of $218.86 million. During the same quarter in the prior year, the firm posted $0.05 earnings per share. The business’s revenue was down 16.9% on a year-over-year basis. On average, equities analysts predict that Rayonier Inc. will post 0.38 earnings per share for the current fiscal year.

Rayonier Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date was Monday, September 16th. Rayonier’s payout ratio is presently 101.79%.

Insider Buying and Selling at Rayonier

In other news, Director V. Larkin Martin sold 10,011 shares of the company’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 transaction 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.83% of the stock is currently owned by company insiders.

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.