Rayonier Inc. (NYSE:RYN) Shares Purchased by BNP Paribas Financial Markets

BNP Paribas Financial Markets boosted its holdings in shares of Rayonier Inc. (NYSE:RYN) by 87.6% in the third quarter, HoldingsChannel reports. The firm owned 161,130 shares of the real estate investment trust’s stock after buying an additional 75,258 shares during the period. BNP Paribas Financial Markets’ holdings in Rayonier were worth $5,185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. V Square Quantitative Management LLC purchased a new stake in Rayonier in the 3rd quarter worth approximately $25,000. GAMMA Investing LLC lifted its stake 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 valued at $31,000 after purchasing an additional 376 shares during the period. Venturi Wealth Management LLC boosted its holdings in Rayonier by 165.1% during the third quarter. Venturi Wealth Management LLC now owns 1,079 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 672 shares in the last quarter. Blue Trust Inc. grew its position in Rayonier by 539.9% during the third quarter. Blue Trust Inc. now owns 1,235 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 1,042 shares during the period. Finally, Quest Partners LLC purchased a new position in Rayonier in the second quarter valued at $40,000. 89.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RYN. Truist Financial increased their target price on shares of 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 note on Saturday, November 16th.

Rayonier Stock Up 0.8 %

NYSE RYN opened at $31.71 on Wednesday. Rayonier Inc. has a one year low of $27.40 and a one year high of $35.29. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.85 and a current ratio of 1.99. The business has a fifty day moving average price of $31.37 and a 200 day moving average price of $30.41. The company has a market cap of $4.72 billion, a P/E ratio of 29.92 and a beta of 1.02.

Rayonier (NYSE:RYN) last posted its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). Rayonier had a return on equity of 2.95% and a net margin of 15.84%. The business had revenue of $195.00 million during the quarter, compared to analysts’ expectations of $211.21 million. During the same period in the prior year, the business posted $0.13 earnings per share. The business’s quarterly revenue was down 3.3% on a year-over-year basis. Research analysts anticipate that Rayonier Inc. will post 0.38 EPS for the current fiscal year.

Rayonier Increases Dividend

The business also recently announced a special dividend, which will be paid on Thursday, January 30th. Stockholders of record on Thursday, December 12th will be issued a dividend of $1.80 per share. This is a boost from Rayonier’s previous special dividend of $0.20. Rayonier’s payout ratio is currently 107.55%.

Rayonier announced that its Board of Directors has initiated a share buyback program on Monday, December 2nd that permits the company to buyback $300.00 million in shares. This buyback authorization permits the real estate investment trust to reacquire up to 6.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, Director V. Larkin Martin sold 10,011 shares of the company’s stock in a transaction dated 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 sale, the director now owns 40,168 shares of the company’s stock, valued at approximately $1,227,935.76. This represents a 19.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 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.