Global Alpha Capital Management Ltd. Decreases Stake in Rayonier Inc. $RYN

Global Alpha Capital Management Ltd. trimmed its position in shares of Rayonier Inc. (NYSE:RYN) by 2.0% during the fourth quarter, Holdings Channel reports. The firm owned 1,657,545 shares of the real estate investment trust’s stock after selling 33,754 shares during the quarter. Rayonier comprises approximately 2.2% of Global Alpha Capital Management Ltd.’s holdings, making the stock its 20th biggest position. Global Alpha Capital Management Ltd.’s holdings in Rayonier were worth $35,886,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of RYN. Vanguard Group Inc. raised its stake in shares of Rayonier by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 21,174,792 shares of the real estate investment trust’s stock worth $458,434,000 after buying an additional 444,503 shares during the last quarter. Norges Bank acquired a new position in shares of Rayonier during the 4th quarter worth $313,806,000. Legal & General Group Plc raised its stake in shares of Rayonier by 11.1% during the 4th quarter. Legal & General Group Plc now owns 4,689,938 shares of the real estate investment trust’s stock worth $101,537,000 after buying an additional 467,703 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Rayonier by 2.5% in the third quarter. JPMorgan Chase & Co. now owns 3,782,342 shares of the real estate investment trust’s stock valued at $100,383,000 after acquiring an additional 94,033 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Rayonier by 6.0% in the 4th quarter. Geode Capital Management LLC now owns 3,089,936 shares of the real estate investment trust’s stock valued at $66,910,000 after purchasing an additional 173,704 shares during the last quarter. Institutional investors and hedge funds own 89.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on RYN shares. Truist Financial increased their target price on Rayonier from $24.00 to $25.00 and gave the stock a “hold” rating in a research report on Monday, May 11th. Wall Street Zen upgraded Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, April 18th. Weiss Ratings downgraded shares of Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. Citigroup decreased their target price on shares of Rayonier from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. Finally, BMO Capital Markets lowered their target price on shares of Rayonier from $26.00 to $25.00 and set a “market perform” rating for the company in a report on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $24.80.

Rayonier Trading Down 0.2%

NYSE:RYN opened at $20.97 on Friday. The company has a quick ratio of 2.21, a current ratio of 2.53 and a debt-to-equity ratio of 0.35. The business’s 50 day moving average is $20.81 and its two-hundred day moving average is $21.61. Rayonier Inc. has a 52 week low of $19.49 and a 52 week high of $27.33. The company has a market cap of $6.31 billion, a PE ratio of 6.94 and a beta of 0.88.

Rayonier (NYSE:RYN) last announced its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.01. Rayonier had a return on equity of 3.61% and a net margin of 68.61%.The firm had revenue of $276.79 million for the quarter, compared to the consensus estimate of $280.92 million. During the same quarter in the previous year, the business earned ($0.02) EPS. The firm’s revenue for the quarter was up 233.9% on a year-over-year basis. On average, analysts predict that Rayonier Inc. will post 0.36 EPS for the current year.

Rayonier Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 5.0%. The ex-dividend date is Tuesday, June 16th. Rayonier’s dividend payout ratio (DPR) is currently 34.44%.

Insider Transactions at Rayonier

In related news, CFO Wayne Wasechek sold 2,920 shares of Rayonier stock in a transaction on Monday, April 20th. The stock was sold at an average price of $21.17, for a total transaction of $61,816.40. Following the completion of the sale, the chief financial officer owned 115,530 shares of the company’s stock, valued at approximately $2,445,770.10. This trade represents a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.85% of the company’s stock.

About Rayonier

Rayonier, Inc (NYSE: RYN) is a publicly traded real estate investment trust specializing in timberland ownership and management. The company’s core business revolves around sustainably growing, harvesting, and marketing timber and timber-related products. Rayonier’s timberland portfolio encompasses approximately 2.7 million acres across the United States and New Zealand, focusing on softwood and hardwood fiber for use in paper, packaging and building materials.

Rayonier operates through two primary segments: Timber and Real Estate Solutions.