Commonwealth Equity Services LLC Sells 647 Shares of Rayonier Inc. (NYSE:RYN)

Commonwealth Equity Services LLC trimmed its holdings in shares of Rayonier Inc. (NYSE:RYN) by 2.1% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 29,703 shares of the real estate investment trust’s stock after selling 647 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Rayonier were worth $864,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Advisors Asset Management Inc. bought a new stake in shares of Rayonier in the first quarter valued at about $26,000. GAMMA Investing LLC lifted its stake in Rayonier by 53.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,079 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 376 shares in the last quarter. Fifth Third Bancorp boosted its position in Rayonier by 83.7% during the 2nd quarter. Fifth Third Bancorp now owns 1,449 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 660 shares during the last quarter. Covestor Ltd grew its stake in shares of Rayonier by 488.6% during the 1st quarter. Covestor Ltd now owns 1,554 shares of the real estate investment trust’s stock worth $52,000 after acquiring an additional 1,290 shares in the last quarter. Finally, Larson Financial Group LLC acquired a new stake in shares of Rayonier in the first quarter valued at approximately $62,000. 89.12% of the stock is currently owned by institutional investors and hedge funds.

Rayonier Trading Up 0.3 %

Rayonier stock opened at $31.70 on Wednesday. The stock has a 50-day simple moving average of $29.94 and a 200 day simple moving average of $30.58. The stock has a market capitalization of $4.72 billion, a P/E ratio of 28.30 and a beta of 1.04. 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 Inc. has a 52 week low of $24.84 and a 52 week high of $35.29.

Rayonier (NYSE:RYN) last issued its quarterly earnings data 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 business had revenue of $173.60 million during the quarter, compared to analyst estimates of $218.86 million. Rayonier had a return on equity of 3.00% and a net margin of 14.78%. Rayonier’s revenue for the quarter was down 16.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.05 EPS. Analysts expect that Rayonier Inc. will post 0.4 earnings per share for the current year.

Rayonier Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 3.60%. The ex-dividend date is Monday, September 16th. Rayonier’s dividend payout ratio (DPR) is currently 101.79%.

Insider Activity

In related news, Director V. Larkin Martin sold 10,011 shares of the company’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 transaction of $306,036.27. Following the transaction, the director now directly owns 40,168 shares of the company’s stock, valued at approximately $1,227,935.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.83% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.