Rayonier Inc. (NYSE:RYN) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its holdings in Rayonier Inc. (NYSE:RYN) by 23.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,952 shares of the real estate investment trust’s stock after selling 599 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Rayonier were worth $57,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. CENTRAL TRUST Co lifted its holdings in Rayonier by 5.5% in the first quarter. CENTRAL TRUST Co now owns 6,433 shares of the real estate investment trust’s stock valued at $214,000 after acquiring an additional 336 shares during the period. M&T Bank Corp raised its stake in shares of Rayonier by 4.4% during the 4th quarter. M&T Bank Corp now owns 8,102 shares of the real estate investment trust’s stock worth $271,000 after buying an additional 344 shares during the last quarter. GAMMA Investing LLC raised 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 buying an additional 376 shares during the last quarter. Retirement Systems of Alabama raised its stake in shares of Rayonier by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 171,307 shares of the real estate investment trust’s stock worth $5,694,000 after buying an additional 437 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its stake in shares of Rayonier by 0.5% during the 1st quarter. State of Alaska Department of Revenue now owns 84,739 shares of the real estate investment trust’s stock worth $2,815,000 after buying an additional 439 shares during the last quarter. Institutional investors and hedge funds own 89.12% of the company’s stock.

Rayonier Trading Down 1.6 %

Rayonier stock opened at $30.26 on Tuesday. The stock has a market cap of $4.51 billion, a PE ratio of 27.02 and a beta of 1.04. The stock has a 50-day moving average price of $29.60 and a 200 day moving average price of $30.66. Rayonier Inc. has a 52 week low of $24.84 and a 52 week high of $35.29. 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 (NYSE:RYN) last posted its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.12). The company had revenue of $173.60 million for the quarter, compared to analysts’ expectations of $218.86 million. Rayonier had a return on equity of 3.00% and a net margin of 14.78%. The company’s revenue for the quarter was down 16.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.05 EPS. Equities research analysts predict that Rayonier Inc. will post 0.41 earnings per share for the current fiscal year.

Rayonier Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend is Monday, September 16th. Rayonier’s dividend payout ratio is presently 101.79%.

Analysts Set New Price Targets

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

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.