Brighton Jones LLC Invests $211,000 in Rayonier Inc. (NYSE:RYN)

Brighton Jones LLC bought a new stake in shares of Rayonier Inc. (NYSE:RYN) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 6,566 shares of the real estate investment trust’s stock, valued at approximately $211,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Rayonier by 0.3% during the first quarter. Vanguard Group Inc. now owns 20,802,946 shares of the real estate investment trust’s stock worth $691,490,000 after buying an additional 67,646 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Rayonier by 1.2% during the 1st 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 purchasing an additional 196,571 shares during the last quarter. Impax Asset Management Group plc boosted its holdings in Rayonier by 17.3% in the 2nd 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 purchasing an additional 1,004,357 shares during the period. Bank of New York Mellon Corp grew its position in 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 worth $36,089,000 after purchasing an additional 10,536 shares during the last quarter. Finally, Central Securities Corp increased its holdings in shares of Rayonier by 42.9% during the 1st quarter. Central Securities Corp now owns 1,000,000 shares of the real estate investment trust’s stock worth $33,240,000 after purchasing an additional 300,000 shares during the period. Institutional investors and hedge funds own 89.12% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on RYN. Truist Financial increased their target price on shares of Rayonier from $31.00 to $32.00 and gave the company 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 report on Saturday, August 17th.

Insider Activity at Rayonier

In other Rayonier news, Director V. Larkin Martin sold 10,011 shares of the company’s stock in a transaction 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 in the company, valued at $1,227,935.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.83% of the stock is owned by insiders.

Rayonier Trading Down 1.2 %

Shares of RYN stock opened at $31.47 on Friday. The firm has a fifty day moving average of $31.29 and a 200-day moving average of $30.28. The stock has a market cap of $4.69 billion, a price-to-earnings ratio of 31.47 and a beta of 1.04. Rayonier Inc. has a 52-week low of $24.84 and a 52-week high of $35.29. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.78 and a current ratio of 1.98.

Rayonier (NYSE:RYN) last posted its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.12). The business had revenue of $173.60 million during the quarter, compared to the consensus estimate of $218.86 million. Rayonier had a net margin of 14.78% and a return on equity of 3.00%. The business’s revenue was down 16.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.05 EPS. On average, equities research analysts forecast that Rayonier Inc. will post 0.38 earnings per share for the current fiscal year.

Rayonier Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be given a dividend of $0.285 per share. The ex-dividend date is Tuesday, December 17th. This represents a $1.14 annualized dividend and a dividend yield of 3.62%. Rayonier’s dividend payout ratio (DPR) is presently 114.00%.

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.