Covestor Ltd Purchases 1,026 Shares of Rayonier Inc. (NYSE:RYN)

Covestor Ltd boosted its position in shares of Rayonier Inc. (NYSE:RYN) by 135.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,782 shares of the real estate investment trust’s stock after acquiring an additional 1,026 shares during the period. Covestor Ltd’s holdings in Rayonier were worth $57,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RYN. V Square Quantitative Management LLC bought a new stake in Rayonier during the 3rd quarter worth approximately $25,000. Advisors Asset Management Inc. bought a new stake in Rayonier during the 1st quarter worth approximately $26,000. GAMMA Investing LLC raised its stake in Rayonier by 53.5% during 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 period. Quest Partners LLC bought a new stake in Rayonier during the 2nd quarter worth approximately $40,000. Finally, Blue Trust Inc. raised its stake in Rayonier by 539.9% during the 3rd quarter. Blue Trust Inc. now owns 1,235 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 1,042 shares during the period. Institutional investors own 89.12% of the company’s stock.

Insider Activity at Rayonier

In related news, Director V. Larkin Martin sold 10,011 shares of the firm’s stock in a transaction on 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 transaction, the director now directly owns 40,168 shares of the company’s stock, 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. 0.83% of the stock is currently owned by insiders.

Rayonier Trading Down 1.3 %

Rayonier stock opened at $29.72 on Friday. The stock has a market cap of $4.43 billion, a P/E ratio of 28.04 and a beta of 1.05. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.99 and a quick ratio of 1.78. Rayonier Inc. has a 1 year low of $27.40 and a 1 year high of $35.29. The firm’s 50 day moving average price is $31.47 and its 200-day moving average price is $30.30.

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

Rayonier Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date of this dividend is Tuesday, December 17th. Rayonier’s dividend payout ratio (DPR) is presently 107.55%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. StockNews.com cut shares of Rayonier from a “hold” rating to a “sell” rating in a research report on Friday, November 8th. Truist Financial lifted their price objective 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 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.