Sequoia Financial Advisors LLC Takes $2.53 Million Position in Rayonier Inc. (NYSE:RYN)

Sequoia Financial Advisors LLC acquired a new stake in shares of Rayonier Inc. (NYSE:RYN) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 78,479 shares of the real estate investment trust’s stock, valued at approximately $2,525,000. Sequoia Financial Advisors LLC owned about 0.05% of Rayonier as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its holdings in Rayonier by 138.7% during the first quarter. BNP Paribas Financial Markets now owns 161,368 shares of the real estate investment trust’s stock valued at $5,364,000 after buying an additional 93,768 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in Rayonier during the first quarter valued at approximately $961,000. Price T Rowe Associates Inc. MD increased its holdings in Rayonier by 1.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 16,294,936 shares of the real estate investment trust’s stock valued at $541,645,000 after buying an additional 196,571 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Rayonier during the first quarter valued at approximately $729,000. Finally, SG Americas Securities LLC increased 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 buying an additional 23,953 shares during the last quarter. 89.12% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RYN. StockNews.com raised shares of Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, August 17th. Truist Financial raised their target price on shares of Rayonier from $31.00 to $32.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th.

Insiders Place Their Bets

In related 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 value 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.83% of the company’s stock.

Rayonier Stock Performance

Shares of NYSE RYN opened at $31.64 on Thursday. 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 price-to-earnings ratio of 28.28 and a beta of 1.04. The company has a 50 day simple moving average of $31.14 and a two-hundred day simple moving average of $30.28. Rayonier Inc. has a 12 month low of $24.84 and a 12 month high of $35.29.

Rayonier (NYSE:RYN) last released its 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 return on equity of 3.00% and a net margin of 14.78%. The business had revenue of $173.60 million for the quarter, compared to analysts’ expectations of $218.86 million. During the same period in the previous year, the company earned $0.05 EPS. Rayonier’s quarterly revenue was down 16.9% compared to the same quarter last year. As a group, analysts predict that Rayonier Inc. will post 0.38 earnings per share for the current year.

Rayonier Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be given a $0.285 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.14 dividend on an annualized basis and a yield of 3.60%. Rayonier’s payout ratio is currently 101.79%.

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.