The Manufacturers Life Insurance Company Has $13.92 Million Position in Rayonier Inc. (NYSE:RYN)

The Manufacturers Life Insurance Company trimmed its position in shares of Rayonier Inc. (NYSE:RYN) by 3.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 432,518 shares of the real estate investment trust’s stock after selling 16,778 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.29% of Rayonier worth $13,918,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. raised its stake in shares of Rayonier by 1.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 28,472 shares of the real estate investment trust’s stock valued at $828,000 after purchasing an additional 368 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of 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 buying an additional 376 shares in the last quarter. Sei Investments Co. boosted its position in shares of Rayonier by 1.3% during the 2nd quarter. Sei Investments Co. now owns 30,341 shares of the real estate investment trust’s stock valued at $883,000 after acquiring an additional 391 shares in the last quarter. CWM LLC boosted its position in shares of Rayonier by 20.6% during the 3rd quarter. CWM LLC now owns 2,849 shares of the real estate investment trust’s stock valued at $92,000 after acquiring an additional 487 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in Rayonier by 2.1% in the second quarter. Bank of Montreal Can now owns 23,606 shares of the real estate investment trust’s stock valued at $716,000 after acquiring an additional 490 shares during the period. Institutional investors and hedge funds own 89.12% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on RYN shares. Truist Financial lifted their price objective on Rayonier from $31.00 to $32.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. StockNews.com upgraded Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th.

Insider Buying and Selling at Rayonier

In other Rayonier news, Director V. Larkin Martin sold 10,011 shares of the 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 transaction, the director now directly owns 40,168 shares in the company, valued at approximately $1,227,935.76. This trade represents a 19.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.83% of the company’s stock.

Rayonier Stock Performance

NYSE RYN opened at $31.87 on Monday. Rayonier Inc. has a 1-year low of $27.40 and a 1-year high of $35.29. The company has a 50 day moving average of $31.38 and a 200-day moving average of $30.40. The company has a current ratio of 1.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.71. The firm has a market cap of $4.75 billion, a price-to-earnings ratio of 30.07 and a beta of 1.05.

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

Rayonier Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend is Tuesday, December 17th. Rayonier’s dividend payout ratio is currently 107.55%.

About Rayonier

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.