SG Americas Securities LLC Sells 8,634 Shares of Rayonier Inc. (NYSE:RYN)

SG Americas Securities LLC lowered its stake in shares of Rayonier Inc. (NYSE:RYN) by 27.2% during the third quarter, Holdings Channel.com reports. The firm owned 23,083 shares of the real estate investment trust’s stock after selling 8,634 shares during the quarter. SG Americas Securities LLC’s holdings in Rayonier were worth $743,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RYN. Confluence Investment Management LLC purchased a new stake in Rayonier in the first quarter valued at about $77,027,000. Impax Asset Management Group plc raised its stake in Rayonier by 17.3% in the second quarter. Impax Asset Management Group plc now owns 6,815,188 shares of the real estate investment trust’s stock valued at $197,226,000 after buying an additional 1,004,357 shares during the last quarter. Teramo Advisors LLC purchased a new stake in Rayonier in the second quarter valued at about $9,309,000. Central Securities Corp raised its stake in Rayonier by 42.9% in the first quarter. Central Securities Corp now owns 1,000,000 shares of the real estate investment trust’s stock valued at $33,240,000 after buying an additional 300,000 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Rayonier by 108.9% in the first quarter. Russell Investments Group Ltd. now owns 541,344 shares of the real estate investment trust’s stock valued at $17,995,000 after buying an additional 282,145 shares during the last quarter. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

Rayonier Stock Up 1.0 %

Shares of RYN stock opened at $31.64 on Friday. The stock has a 50 day moving average of $30.84 and a 200 day moving average of $30.32. 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 cap of $4.71 billion, a P/E ratio of 28.25 and a beta of 1.04. Rayonier Inc. has a twelve month low of $24.84 and a twelve month high of $35.29.

Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.12). The company had revenue of $173.60 million for the quarter, compared to analysts’ expectations of $218.86 million. Rayonier had a net margin of 14.78% and a return on equity of 3.00%. The firm’s revenue was down 16.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.05 earnings per share. As a group, sell-side analysts expect that Rayonier Inc. will post 0.38 EPS for the current year.

Rayonier Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.60%. The ex-dividend date of this dividend was Monday, September 16th. Rayonier’s dividend payout ratio is currently 101.79%.

Insider Buying and Selling at Rayonier

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 stock was sold at an average price of $30.57, for a total value of $306,036.27. Following the sale, the director now directly owns 40,168 shares of the company’s stock, valued at approximately $1,227,935.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.83% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Truist Financial decreased their price target on Rayonier from $34.00 to $31.00 and set a “hold” rating for the company in a research note on Tuesday, July 16th. StockNews.com upgraded Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, August 17th.

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.