The Manufacturers Life Insurance Company Boosts Stake in Rayonier Inc. (NYSE:RYN)

The Manufacturers Life Insurance Company lifted its holdings in shares of Rayonier Inc. (NYSE:RYN) by 2.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 449,296 shares of the real estate investment trust’s stock after purchasing an additional 11,604 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Rayonier were worth $13,070,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RYN. Advisors Asset Management Inc. acquired a new position in Rayonier in the first quarter valued at about $26,000. GAMMA Investing LLC lifted its holdings 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 worth $31,000 after acquiring an additional 376 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Rayonier in the 2nd quarter worth approximately $40,000. Fifth Third Bancorp boosted its position in shares of 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 purchasing an additional 660 shares during the period. Finally, Farmers & Merchants Investments Inc. increased its holdings in Rayonier by 2,272.7% in the 2nd 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 last quarter. 89.12% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Activity

In related news, Director V. Larkin Martin sold 10,011 shares of the business’s stock in a transaction 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 completion of the transaction, the director now owns 40,168 shares in the company, valued at $1,227,935.76. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.83% of the company’s stock.

Rayonier Trading Down 0.1 %

NYSE:RYN opened at $31.82 on Thursday. Rayonier Inc. has a 12-month low of $24.84 and a 12-month high of $35.29. The firm has a market cap of $4.74 billion, a PE ratio of 28.41 and a beta of 1.04. The company has a current ratio of 1.98, a quick ratio of 1.78 and a debt-to-equity ratio of 0.75. The stock has a fifty day moving average price of $30.65 and a 200 day moving average price of $30.39.

Rayonier (NYSE:RYN) last announced 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 analyst estimates of $218.86 million. Rayonier had a return on equity of 3.00% and a net margin of 14.78%. The business’s quarterly revenue was down 16.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.05 earnings per share. Sell-side analysts anticipate that Rayonier Inc. will post 0.38 earnings per share for the current fiscal year.

Rayonier Announces Dividend

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