Louisiana State Employees Retirement System Cuts Stake in Rayonier Inc. (NYSE:RYN)

Louisiana State Employees Retirement System lowered its stake in shares of Rayonier Inc. (NYSE:RYN) by 3.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 37,200 shares of the real estate investment trust’s stock after selling 1,500 shares during the period. Louisiana State Employees Retirement System’s holdings in Rayonier were worth $1,197,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in RYN. Benjamin F. Edwards & Company Inc. grew its position in shares of Rayonier by 1.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 28,472 shares of the real estate investment trust’s stock valued at $828,000 after acquiring an additional 368 shares during the period. GAMMA Investing LLC increased its position in Rayonier by 53.5% in the second 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. Sei Investments Co. raised its stake in shares of Rayonier by 1.3% in the second quarter. Sei Investments Co. now owns 30,341 shares of the real estate investment trust’s stock valued at $883,000 after buying an additional 391 shares during the period. Retirement Systems of Alabama lifted its position 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 valued at $5,694,000 after buying an additional 437 shares during the last quarter. Finally, State of Alaska Department of Revenue grew 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 acquiring an additional 439 shares during the period. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Analysts Set New Price Targets

RYN has been the topic of a number of research reports. StockNews.com upgraded Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, August 17th. Truist Financial boosted their price target on shares of Rayonier from $31.00 to $32.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th.

Rayonier Stock Performance

Shares of RYN opened at $31.13 on Friday. Rayonier Inc. has a 52-week low of $27.25 and a 52-week high of $35.29. The stock’s 50-day simple moving average is $31.45 and its 200 day simple moving average is $30.28. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.78 and a current ratio of 1.98. The stock has a market capitalization of $4.64 billion, a price-to-earnings ratio of 31.13 and a beta of 1.05.

Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.12). The firm had revenue of $173.60 million during 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 quarterly revenue was down 16.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.05 earnings per share. Research analysts forecast that Rayonier Inc. will post 0.38 EPS for the current fiscal year.

Rayonier Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 3.66%. The ex-dividend date is Tuesday, December 17th. Rayonier’s payout ratio is 114.00%.

Insider Activity

In related 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 sale, the director now owns 40,168 shares in the company, valued at approximately $1,227,935.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.83% of the company’s stock.

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.