Rayonier Inc. (NYSE:RYN) Shares Sold by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. reduced its stake in Rayonier Inc. (NYSE:RYN) by 45.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 7,011 shares of the real estate investment trust’s stock after selling 5,779 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Rayonier were worth $204,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Algert Global LLC lifted its stake in Rayonier by 16.9% during the 2nd quarter. Algert Global LLC now owns 98,411 shares of the real estate investment trust’s stock worth $2,863,000 after acquiring an additional 14,221 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Rayonier by 2.7% during the second quarter. The Manufacturers Life Insurance Company now owns 449,296 shares of the real estate investment trust’s stock worth $13,070,000 after purchasing an additional 11,604 shares during the period. Millennium Management LLC lifted 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 worth $21,900,000 after purchasing an additional 272,349 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Rayonier by 2.1% in the second quarter. Bank of Montreal Can now owns 23,606 shares of the real estate investment trust’s stock valued at $716,000 after purchasing an additional 490 shares during the period. Finally, Ensign Peak Advisors Inc grew its holdings in shares of Rayonier by 13.8% in the second quarter. Ensign Peak Advisors Inc now owns 69,021 shares of the real estate investment trust’s stock valued at $2,008,000 after purchasing an additional 8,385 shares in the last quarter. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Insider Buying and Selling

In other Rayonier news, Director V. Larkin Martin sold 10,011 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $30.57, for a total transaction of $306,036.27. Following the sale, the director now owns 40,168 shares of the company’s stock, valued at $1,227,935.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.83% of the stock is owned by company insiders.

Rayonier Stock Down 0.1 %

Shares of Rayonier stock opened at $31.82 on Thursday. Rayonier Inc. has a 52-week low of $24.84 and a 52-week high of $35.29. The company has a 50 day moving average of $30.65 and a 200 day moving average of $30.39. The company has a quick ratio of 1.78, a current ratio of 1.98 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $4.74 billion, a P/E ratio of 28.41 and a beta of 1.04.

Rayonier (NYSE:RYN) last issued its earnings results 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 firm had revenue of $173.60 million for the quarter, compared to analyst estimates of $218.86 million. During the same quarter in the previous year, the firm posted $0.05 EPS. The business’s revenue for the quarter was down 16.9% on a year-over-year basis. As a group, research analysts forecast that Rayonier Inc. will post 0.38 EPS for the current fiscal year.

Rayonier Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 3.58%. The ex-dividend date of this dividend was Monday, September 16th. Rayonier’s dividend payout ratio (DPR) is presently 101.79%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Truist Financial reduced their target price on shares of Rayonier from $34.00 to $31.00 and set a “hold” rating on the stock in a report on Tuesday, July 16th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $34.00 target price on shares of Rayonier in a report on Friday, June 14th. Finally, StockNews.com raised Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, August 17th.

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.