Rayonier Inc. (NYSE:RYN) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC cut its holdings in Rayonier Inc. (NYSE:RYN) by 9.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 89,012 shares of the real estate investment trust’s stock after selling 8,808 shares during the quarter. Nisa Investment Advisors LLC owned 0.06% of Rayonier worth $2,864,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Rayonier by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 20,802,946 shares of the real estate investment trust’s stock worth $691,490,000 after acquiring an additional 67,646 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Rayonier by 1.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 16,294,936 shares of the real estate investment trust’s stock worth $541,645,000 after purchasing an additional 196,571 shares in the last quarter. Impax Asset Management Group plc increased its stake in shares of Rayonier by 17.3% during the second 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 in the last quarter. Bank of New York Mellon Corp raised its position in shares of Rayonier by 0.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,240,608 shares of the real estate investment trust’s stock worth $36,089,000 after purchasing an additional 10,536 shares during the last quarter. Finally, Central Securities Corp lifted its stake in Rayonier by 42.9% in the 1st quarter. Central Securities Corp now owns 1,000,000 shares of the real estate investment trust’s stock valued at $33,240,000 after buying an additional 300,000 shares in the last quarter. 89.12% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. StockNews.com raised Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, August 17th. Truist Financial boosted their price target on Rayonier from $31.00 to $32.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th.

Rayonier Stock Performance

RYN opened at $31.13 on Friday. Rayonier Inc. has a twelve month low of $27.25 and a twelve month high of $35.29. The firm has a market capitalization of $4.64 billion, a PE ratio of 31.13 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 firm’s 50-day moving average price is $31.45 and its 200 day moving average price is $30.28.

Rayonier (NYSE:RYN) last posted 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). Rayonier had a net margin of 14.78% and a return on equity of 3.00%. The company had revenue of $173.60 million during the quarter, compared to analysts’ expectations of $218.86 million. During the same quarter last year, the company earned $0.05 earnings per share. Rayonier’s revenue for the quarter was down 16.9% on a year-over-year basis. As a group, sell-side analysts expect that Rayonier Inc. will post 0.38 EPS for the current fiscal year.

Rayonier Announces Dividend

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

Insider Activity

In other Rayonier news, Director V. Larkin Martin sold 10,011 shares of Rayonier stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $30.57, for a total transaction of $306,036.27. Following the transaction, the director now directly owns 40,168 shares of the company’s stock, valued at $1,227,935.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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.