Rayonier Inc. (NYSE:RYN) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its position in shares of Rayonier Inc. (NYSE:RYN) by 31.8% during the third quarter, Holdings Channel reports. The fund owned 311,632 shares of the real estate investment trust’s stock after selling 145,251 shares during the quarter. Principal Financial Group Inc.’s holdings in Rayonier were worth $10,028,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Rayonier by 1.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 28,472 shares of the real estate investment trust’s stock valued at $828,000 after buying an additional 368 shares during the last quarter. GAMMA Investing LLC grew its position 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 valued at $31,000 after buying an additional 376 shares in the last quarter. Sei Investments Co. increased its position in shares of Rayonier by 1.3% during the 2nd quarter. Sei Investments Co. now owns 30,341 shares of the real estate investment trust’s stock valued at $883,000 after purchasing an additional 391 shares during the period. CWM LLC grew its stake in shares of Rayonier by 20.6% in the 3rd quarter. CWM LLC now owns 2,849 shares of the real estate investment trust’s stock worth $92,000 after purchasing an additional 487 shares during the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of Rayonier by 2.1% in the second quarter. Bank of Montreal Can now owns 23,606 shares of the real estate investment trust’s stock valued at $716,000 after buying an additional 490 shares in the last quarter. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

Rayonier Stock Performance

Shares of RYN opened at $30.14 on Tuesday. Rayonier Inc. has a 12 month low of $27.40 and a 12 month high of $35.29. The company has a current ratio of 1.99, a quick ratio of 1.78 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $4.49 billion, a P/E ratio of 28.43 and a beta of 1.05. The firm’s fifty day simple moving average is $31.45 and its two-hundred day simple moving average is $30.32.

Rayonier (NYSE:RYN) last issued its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The business had revenue of $195.00 million for 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 quarter in the prior year, the business earned $0.13 EPS. As a group, analysts predict that Rayonier Inc. will post 0.38 EPS for the current year.

Rayonier Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend is Tuesday, December 17th. Rayonier’s payout ratio is 107.55%.

Insider Buying and Selling 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 stock was 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 directly owns 40,168 shares in the company, valued at $1,227,935.76. This trade represents a 19.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RYN. StockNews.com upgraded Rayonier from a “sell” rating to a “hold” rating in a report on Saturday. Truist Financial raised their target price on Rayonier from $31.00 to $32.00 and gave the stock a “hold” rating in a 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.