Fmr LLC Decreases Stock Position in Rayonier Inc. (NYSE:RYN)

Fmr LLC decreased its stake in shares of Rayonier Inc. (NYSE:RYN) by 70.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,162 shares of the real estate investment trust’s stock after selling 19,245 shares during the quarter. Fmr LLC’s holdings in Rayonier were worth $263,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Assenagon Asset Management S.A. grew its position in shares of Rayonier by 20.8% during the second quarter. Assenagon Asset Management S.A. now owns 11,347 shares of the real estate investment trust’s stock worth $330,000 after buying an additional 1,956 shares in the last quarter. Fifth Third Bancorp grew its holdings in Rayonier by 83.7% during the 2nd quarter. Fifth Third Bancorp now owns 1,449 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 660 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Rayonier by 0.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,240,608 shares of the real estate investment trust’s stock valued at $36,089,000 after purchasing an additional 10,536 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in shares of Rayonier by 2.3% in the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 37,001 shares of the real estate investment trust’s stock valued at $1,076,000 after purchasing an additional 841 shares in the last quarter. Finally, Versor Investments LP acquired a new stake in shares of Rayonier in the 2nd quarter valued at $571,000. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Rayonier Trading Up 1.0 %

NYSE RYN opened at $26.42 on Friday. The firm’s fifty day moving average price is $30.83 and its 200 day moving average price is $30.40. Rayonier Inc. has a 12 month low of $26.14 and a 12 month high of $35.29. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.99 and a quick ratio of 1.85. The company has a market capitalization of $3.94 billion, a price-to-earnings ratio of 24.92 and a beta of 1.02.

Rayonier (NYSE:RYN) last posted its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The firm had revenue of $195.00 million for the quarter, compared to analyst estimates of $211.21 million. Rayonier had a return on equity of 2.95% and a net margin of 15.84%. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.13 EPS. On average, sell-side analysts expect that Rayonier Inc. will post 0.38 earnings per share for the current fiscal year.

Rayonier declared that its board has approved a share repurchase plan on Monday, December 2nd that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Rayonier Increases Dividend

The firm also recently announced a special dividend, which will be paid on Thursday, January 30th. Stockholders of record on Thursday, December 12th will be issued a $1.80 dividend. This is a boost from Rayonier’s previous special dividend of $0.20. Rayonier’s payout ratio is presently 107.55%.

Analyst Ratings Changes

A number of equities analysts recently commented on RYN shares. Truist Financial boosted their target price on shares of Rayonier from $31.00 to $32.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th. StockNews.com raised Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, November 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.