Ensign Peak Advisors Inc Purchases 8,385 Shares of Rayonier Inc. (NYSE:RYN)

Ensign Peak Advisors Inc raised its position in Rayonier Inc. (NYSE:RYN) by 13.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,021 shares of the real estate investment trust’s stock after buying an additional 8,385 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Rayonier were worth $2,008,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Advisors Asset Management Inc. purchased a new stake in Rayonier in the 1st quarter worth about $26,000. GAMMA Investing LLC boosted its position in Rayonier by 53.5% during the second 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 period. Quest Partners LLC purchased a new position in shares of Rayonier in the second quarter worth about $40,000. Fifth Third Bancorp raised its position in shares of Rayonier by 83.7% in the second 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, Farmers & Merchants Investments Inc. raised its position in shares of Rayonier by 2,272.7% in the second quarter. Farmers & Merchants Investments Inc. now owns 1,566 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 1,500 shares during the period. 89.12% of the stock is currently owned by institutional investors.

Insider Activity at Rayonier

In other Rayonier news, Director V. Larkin Martin sold 10,011 shares of the business’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 value of $306,036.27. Following the completion of the transaction, the director now owns 40,168 shares of the company’s stock, valued at approximately $1,227,935.76. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.83% of the stock is currently owned by insiders.

Rayonier Stock Up 1.3 %

Shares of NYSE:RYN opened at $32.16 on Friday. The firm has a fifty day moving average price of $30.50 and a two-hundred day moving average price of $30.45. The company has a market cap of $4.79 billion, a price-to-earnings ratio of 28.71 and a beta of 1.04. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.98 and a quick ratio of 1.78. Rayonier Inc. has a one year low of $24.84 and a one 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 (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.12). The business had revenue of $173.60 million for the quarter, compared to the consensus estimate of $218.86 million. Rayonier had a net margin of 14.78% and a return on equity of 3.00%. Rayonier’s quarterly revenue was down 16.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.05 EPS. Analysts anticipate that Rayonier Inc. will post 0.38 EPS for the current fiscal year.

Rayonier Dividend Announcement

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 $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 3.54%. The ex-dividend date is Monday, September 16th. Rayonier’s dividend payout ratio (DPR) is 101.79%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on RYN shares. Royal Bank of Canada reiterated 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 decreased their price objective on Rayonier from $34.00 to $31.00 and set a “hold” rating on the stock in a research note on Tuesday, July 16th. Finally, StockNews.com upgraded Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, August 17th.

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.