Thrivent Financial for Lutherans Has $2.23 Million Stock Holdings in Rayonier Inc. (NYSE:RYN)

Thrivent Financial for Lutherans raised its stake in Rayonier Inc. (NYSE:RYN) by 124.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 76,641 shares of the real estate investment trust’s stock after purchasing an additional 42,455 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.05% of Rayonier worth $2,229,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. bought a new position in shares of Rayonier in the first quarter valued at $26,000. GAMMA Investing LLC increased its stake in shares of Rayonier by 53.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,079 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 376 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Rayonier in the 2nd quarter valued at about $40,000. Fifth Third Bancorp raised its holdings in shares of Rayonier by 83.7% in the 2nd quarter. Fifth Third Bancorp now owns 1,449 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 660 shares during the period. Finally, Covestor Ltd lifted its stake in Rayonier by 488.6% in the 1st quarter. Covestor Ltd now owns 1,554 shares of the real estate investment trust’s stock valued at $52,000 after purchasing an additional 1,290 shares during the last quarter. Institutional investors and hedge funds own 89.12% of the company’s stock.

Analysts Set New Price Targets

RYN has been the topic of several research analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $34.00 price objective on shares of Rayonier in a research note on Friday, June 14th. Truist Financial reduced their price objective on shares of Rayonier from $34.00 to $31.00 and set a “hold” rating for the company in a research report on Tuesday, July 16th. Finally, StockNews.com upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, August 17th.

Insider Buying and Selling at Rayonier

In other 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 transaction of $306,036.27. Following the transaction, the director now directly owns 40,168 shares of the company’s stock, valued at $1,227,935.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.83% of the company’s stock.

Rayonier Price Performance

Shares of NYSE RYN opened at $31.82 on Wednesday. The firm has a market cap of $4.74 billion, a P/E ratio of 28.41 and a beta of 1.04. The business’s 50 day moving average is $30.60 and its 200-day moving average is $30.38. The company has a current ratio of 1.98, a quick ratio of 1.78 and a debt-to-equity ratio of 0.75. Rayonier Inc. has a 1-year low of $24.84 and a 1-year high of $35.29.

Rayonier (NYSE:RYN) last posted 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 firm had revenue of $173.60 million for the quarter, compared to the consensus estimate of $218.86 million. Rayonier had a return on equity of 3.00% and a net margin of 14.78%. The firm’s quarterly revenue was down 16.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.05 EPS. Equities research analysts predict that Rayonier Inc. will post 0.38 earnings per share for the current year.

Rayonier Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend was Monday, September 16th. Rayonier’s dividend payout ratio (DPR) is 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.