Venturi Wealth Management LLC Acquires 672 Shares of Rayonier Inc. (NYSE:RYN)

Venturi Wealth Management LLC boosted its holdings in Rayonier Inc. (NYSE:RYN) by 165.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,079 shares of the real estate investment trust’s stock after purchasing an additional 672 shares during the period. Venturi Wealth Management LLC’s holdings in Rayonier were worth $35,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Advisors Asset Management Inc. purchased a new position in shares of Rayonier in the first quarter worth about $26,000. V Square Quantitative Management LLC purchased a new position in Rayonier in the 3rd quarter worth approximately $25,000. GAMMA Investing LLC increased its stake in Rayonier by 53.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,079 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 376 shares during the period. Blue Trust Inc. lifted its position in Rayonier by 539.9% in the third quarter. Blue Trust Inc. now owns 1,235 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 1,042 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of Rayonier during the second quarter valued at approximately $40,000. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director V. Larkin Martin sold 10,011 shares of the company’s 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 directly owns 40,168 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available at this link. 0.83% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Truist Financial lifted 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 upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday.

Rayonier Price Performance

Shares of RYN stock opened at $29.97 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.78 and a current ratio of 1.99. Rayonier Inc. has a fifty-two week low of $27.40 and a fifty-two week high of $35.29. The firm has a market cap of $4.47 billion, a P/E ratio of 28.27 and a beta of 1.05. The business’s 50 day moving average price is $31.46 and its 200-day moving average price is $30.30.

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

Rayonier Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend is Tuesday, December 17th. Rayonier’s dividend payout ratio is currently 107.55%.

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.