Impax Asset Management Group plc Sells 2,743,787 Shares of Rayonier Inc. $RYN

Impax Asset Management Group plc reduced its holdings in shares of Rayonier Inc. (NYSE:RYN) by 52.5% in the 2nd quarter, Holdings Channel.com reports. The fund owned 2,484,057 shares of the real estate investment trust’s stock after selling 2,743,787 shares during the period. Impax Asset Management Group plc’s holdings in Rayonier were worth $54,715,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its position in shares of Rayonier by 5.1% in the first quarter. Bank of New York Mellon Corp now owns 1,133,966 shares of the real estate investment trust’s stock worth $31,615,000 after purchasing an additional 55,381 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Rayonier by 62.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 22,775 shares of the real estate investment trust’s stock valued at $635,000 after buying an additional 8,738 shares during the last quarter. Cerity Partners LLC lifted its position in Rayonier by 87.0% during the 1st quarter. Cerity Partners LLC now owns 68,528 shares of the real estate investment trust’s stock worth $1,911,000 after buying an additional 31,875 shares in the last quarter. State of Michigan Retirement System boosted its stake in shares of Rayonier by 5.7% during the 1st quarter. State of Michigan Retirement System now owns 33,615 shares of the real estate investment trust’s stock worth $937,000 after buying an additional 1,822 shares during the last quarter. Finally, Xponance Inc. boosted its stake in shares of Rayonier by 16.5% during the 1st quarter. Xponance Inc. now owns 20,662 shares of the real estate investment trust’s stock worth $576,000 after buying an additional 2,930 shares during the last quarter. 89.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on RYN shares. Citigroup lowered their target price on Rayonier from $27.00 to $24.00 and set a “neutral” rating on the stock in a research report on Wednesday. Wall Street Zen raised Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Rayonier in a research note on Tuesday. Finally, Royal Bank Of Canada raised their target price on shares of Rayonier from $26.00 to $27.00 and gave the company a “sector perform” rating in a research note on Friday, August 8th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $27.25.

Rayonier Price Performance

NYSE:RYN opened at $22.11 on Thursday. The company has a quick ratio of 3.38, a current ratio of 3.50 and a debt-to-equity ratio of 0.37. The stock’s 50 day moving average price is $24.94 and its two-hundred day moving average price is $24.38. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of 4.47 and a beta of 0.98. Rayonier Inc. has a 12-month low of $21.23 and a 12-month high of $32.74.

Rayonier (NYSE:RYN) last issued its earnings results on Wednesday, November 5th. The real estate investment trust reported $0.32 EPS for the quarter, topping the consensus estimate of $0.23 by $0.09. The company had revenue of $177.53 million during the quarter, compared to the consensus estimate of $162.82 million. Rayonier had a return on equity of 3.39% and a net margin of 68.53%.The firm’s revenue for the quarter was up 43.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.12 EPS. Rayonier has set its Q4 2025 guidance at 0.080-0.110 EPS. FY 2025 guidance at 0.410- EPS. On average, analysts anticipate that Rayonier Inc. will post 0.55 earnings per share for the current year.

Rayonier Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th will be given a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend is Wednesday, December 10th. Rayonier’s payout ratio is 21.63%.

About Rayonier

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.