Swiss National Bank Lowers Stock Holdings in Rayonier Inc. (NYSE:RYN)

Swiss National Bank lowered its stake in Rayonier Inc. (NYSE:RYN) by 0.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 276,100 shares of the real estate investment trust’s stock after selling 2,100 shares during the period. Swiss National Bank owned 0.19% of Rayonier worth $8,885,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Impax Asset Management Group plc raised its position in shares of Rayonier by 17.3% in the 2nd quarter. Impax Asset Management Group plc now owns 6,815,188 shares of the real estate investment trust’s stock worth $197,226,000 after purchasing an additional 1,004,357 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Rayonier by 0.9% during the second quarter. Bank of New York Mellon Corp now owns 1,240,608 shares of the real estate investment trust’s stock valued at $36,089,000 after buying an additional 10,536 shares during the last quarter. Millennium Management LLC increased its position in shares of Rayonier by 56.7% during the second quarter. Millennium Management LLC now owns 752,847 shares of the real estate investment trust’s stock valued at $21,900,000 after acquiring an additional 272,349 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Rayonier by 2.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 449,296 shares of the real estate investment trust’s stock worth $13,070,000 after acquiring an additional 11,604 shares during the last quarter. Finally, Teramo Advisors LLC bought a new position in Rayonier in the 2nd quarter valued at approximately $9,309,000. Institutional investors own 89.12% of the company’s stock.

Analysts Set New Price Targets

RYN has been the subject of several recent analyst reports. Truist Financial boosted their price target on Rayonier from $31.00 to $32.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th. StockNews.com raised shares of Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th.

Rayonier Stock Performance

Shares of NYSE RYN opened at $31.05 on Monday. The company has a current ratio of 1.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.71. Rayonier Inc. has a 12-month low of $27.40 and a 12-month high of $35.29. The firm has a market capitalization of $4.63 billion, a price-to-earnings ratio of 29.29 and a beta of 1.05. The firm has a 50 day moving average of $31.38 and a 200 day moving average of $30.34.

Rayonier (NYSE:RYN) last announced its 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). The company had revenue of $195.00 million during the quarter, compared to the consensus estimate of $211.21 million. Rayonier had a return on equity of 2.95% and a net margin of 15.84%. Rayonier’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.13 earnings per share. On average, research analysts anticipate that Rayonier Inc. will post 0.38 earnings per share for the current year.

Rayonier Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be paid a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend is Tuesday, December 17th. Rayonier’s payout ratio is 107.55%.

Insiders Place Their Bets

In related news, Director V. Larkin Martin sold 10,011 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $30.57, for a total transaction of $306,036.27. Following the completion of the sale, the director now owns 40,168 shares in the company, valued at approximately $1,227,935.76. This trade represents a 19.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.83% of the company’s stock.

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.