ST Germain D J Co. Inc. Lowers Position in Rayonier Inc. (NYSE:RYN)

ST Germain D J Co. Inc. trimmed its position in shares of Rayonier Inc. (NYSE:RYN) by 7.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,516 shares of the real estate investment trust’s stock after selling 415 shares during the quarter. ST Germain D J Co. Inc.’s holdings in Rayonier were worth $144,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its position in Rayonier by 26.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,352,691 shares of the real estate investment trust’s stock worth $107,890,000 after purchasing an additional 695,810 shares in the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of Rayonier by 2,950.1% in the third quarter. Crossmark Global Holdings Inc. now owns 296,222 shares of the real estate investment trust’s stock valued at $9,532,000 after acquiring an additional 286,510 shares in the last quarter. Millennium Management LLC increased its position in shares of Rayonier by 56.7% during the second quarter. Millennium Management LLC now owns 752,847 shares of the real estate investment trust’s stock valued at $21,900,000 after acquiring an additional 272,349 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Rayonier by 119.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 457,370 shares of the real estate investment trust’s stock worth $14,718,000 after acquiring an additional 249,173 shares during the period. Finally, WINTON GROUP Ltd purchased a new position in Rayonier in the second quarter worth $3,275,000. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Rayonier Stock Down 3.1 %

Shares of NYSE RYN opened at $24.93 on Friday. 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 stock has a market capitalization of $3.71 billion, a PE ratio of 23.52 and a beta of 1.04. Rayonier Inc. has a one year low of $24.88 and a one year high of $35.29. The business’s fifty day moving average price is $29.04 and its 200-day moving average price is $29.95.

Rayonier (NYSE:RYN) last issued its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). Rayonier had a return on equity of 2.95% and a net margin of 15.84%. The business had revenue of $195.00 million for the quarter, compared to the consensus estimate of $211.21 million. During the same quarter in the prior year, the business earned $0.13 EPS. Rayonier’s revenue for the quarter was down 3.3% compared to the same quarter last year. On average, equities research analysts anticipate that Rayonier Inc. will post 0.38 EPS for the current year.

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

Rayonier Increases Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RYN. Truist Financial decreased their target price on Rayonier from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Monday, January 6th. StockNews.com raised shares of 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.