Rayonier Inc. (NYSE:RYN) Shares Sold by Wolverine Asset Management LLC

Wolverine Asset Management LLC trimmed its stake in shares of Rayonier Inc. (NYSE:RYN) by 38.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,000 shares of the real estate investment trust’s stock after selling 7,000 shares during the quarter. Wolverine Asset Management LLC’s holdings in Rayonier were worth $320,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Rayonier in the 4th quarter valued at about $439,076,000. Confluence Investment Management LLC acquired a new stake in Rayonier in the first quarter valued at approximately $77,027,000. Cohen & Steers Inc. purchased a new position in Rayonier in the fourth quarter worth approximately $51,265,000. Central Securities Corp grew its holdings in 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 acquiring an additional 300,000 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Rayonier by 108.9% in the 1st quarter. Russell Investments Group Ltd. now owns 541,344 shares of the real estate investment trust’s stock valued at $17,995,000 after purchasing an additional 282,145 shares during the last quarter. 89.12% of the stock is owned by institutional investors and hedge funds.

Rayonier Trading Down 0.6 %

Shares of Rayonier stock opened at $30.64 on Friday. 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 company has a fifty day simple moving average of $29.52 and a 200-day simple moving average of $30.74. The stock has a market cap of $4.56 billion, a price-to-earnings ratio of 27.36 and a beta of 1.04. Rayonier Inc. has a 12-month low of $24.84 and a 12-month high of $35.29.

Rayonier (NYSE:RYN) last released its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.12). Rayonier had a net margin of 14.78% and a return on equity of 3.00%. The company had revenue of $173.60 million during the quarter, compared to analyst estimates of $218.86 million. During the same quarter in the prior year, the company earned $0.05 EPS. The business’s revenue was down 16.9% on a year-over-year basis. On average, equities analysts forecast that Rayonier Inc. will post 0.41 EPS for the current fiscal year.

Rayonier Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a dividend of $0.285 per share. The ex-dividend date is Monday, September 16th. This represents a $1.14 dividend on an annualized basis and a yield of 3.72%. Rayonier’s dividend payout ratio is presently 101.79%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on RYN. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $34.00 price objective on shares of Rayonier in a research report on Friday, June 14th. StockNews.com raised Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, August 17th. Finally, Truist Financial dropped their price objective on Rayonier from $34.00 to $31.00 and set a “hold” rating on the stock in a report on Tuesday, July 16th.

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.