Amalgamated Bank Has $2.09 Million Stock Position in Rayonier Inc. (NYSE:RYN)

Amalgamated Bank cut its holdings in shares of Rayonier Inc. (NYSE:RYN) by 18.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 64,810 shares of the real estate investment trust’s stock after selling 15,128 shares during the quarter. Amalgamated Bank’s holdings in Rayonier were worth $2,086,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of RYN. Price T Rowe Associates Inc. MD boosted its holdings in shares of 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 worth $541,645,000 after purchasing an additional 196,571 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in shares of Rayonier during the 1st quarter valued at $729,000. SG Americas Securities LLC increased its stake in shares of Rayonier by 308.5% in the second quarter. SG Americas Securities LLC now owns 31,717 shares of the real estate investment trust’s stock worth $923,000 after acquiring an additional 23,953 shares during the last quarter. Edgestream Partners L.P. acquired a new position in shares of Rayonier in the second quarter worth $732,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of Rayonier by 108.9% during the first quarter. Russell Investments Group Ltd. now owns 541,344 shares of the real estate investment trust’s stock worth $17,995,000 after acquiring an additional 282,145 shares in the last quarter. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Rayonier Price Performance

NYSE RYN opened at $30.23 on Tuesday. Rayonier Inc. has a 1 year low of $27.40 and a 1 year high of $35.29. The company has a fifty day simple moving average of $31.53 and a 200 day simple moving average of $30.31. The company has a current ratio of 1.99, a quick ratio of 1.78 and a debt-to-equity ratio of 0.71. The company has a market cap of $4.50 billion, a P/E ratio of 28.52 and a beta of 1.05.

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

Rayonier Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be issued a dividend of $0.285 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.77%. Rayonier’s dividend payout ratio (DPR) is presently 107.55%.

Insider Transactions at Rayonier

In other news, Director V. Larkin Martin sold 10,011 shares of the firm’s stock in a transaction 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 in the company, 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 legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Truist Financial boosted their target price on Rayonier from $31.00 to $32.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. StockNews.com lowered Rayonier from a “hold” rating to a “sell” rating in a report on Friday.

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.