9258 Wealth Management LLC Sells 1,123 Shares of Rayonier Inc. (NYSE:RYN)

9258 Wealth Management LLC lessened its stake in shares of Rayonier Inc. (NYSE:RYN) by 6.3% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 16,667 shares of the real estate investment trust’s stock after selling 1,123 shares during the quarter. 9258 Wealth Management LLC’s holdings in Rayonier were worth $485,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC grew its stake in shares of Rayonier by 3,240.9% in the fourth quarter. International Assets Investment Management LLC now owns 17,640 shares of the real estate investment trust’s stock valued at $589,000 after acquiring an additional 17,112 shares in the last quarter. M&T Bank Corp grew its position in shares of Rayonier by 4.4% during the 4th quarter. M&T Bank Corp now owns 8,102 shares of the real estate investment trust’s stock worth $271,000 after purchasing an additional 344 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Rayonier by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,337,632 shares of the real estate investment trust’s stock worth $78,100,000 after purchasing an additional 75,749 shares during the period. Versor Investments LP bought a new position in shares of Rayonier during the fourth quarter worth approximately $523,000. Finally, BNP Paribas Financial Markets raised its position in shares of Rayonier by 669.4% in the fourth quarter. BNP Paribas Financial Markets now owns 67,600 shares of the real estate investment trust’s stock valued at $2,259,000 after buying an additional 58,814 shares in the last quarter. Institutional investors own 89.12% of the company’s stock.

Rayonier Trading Down 0.6 %

Shares of RYN stock opened at $30.64 on Friday. Rayonier Inc. has a 1-year low of $24.84 and a 1-year high of $35.29. The company has a current ratio of 1.98, a quick ratio of 1.78 and a debt-to-equity ratio of 0.75. The stock has a market cap of $4.56 billion, a price-to-earnings ratio of 27.36 and a beta of 1.04. The stock has a 50-day moving average of $29.52 and a 200-day moving average of $30.74.

Rayonier (NYSE:RYN) last released its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.12). The firm had revenue of $173.60 million for the quarter, compared to analyst estimates of $218.86 million. Rayonier had a net margin of 14.78% and a return on equity of 3.00%. The business’s revenue for the quarter was down 16.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.05 EPS. On average, equities research analysts forecast that Rayonier Inc. will post 0.41 earnings per share for the current year.

Rayonier Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date is Monday, September 16th. Rayonier’s dividend payout ratio is presently 101.79%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RYN. StockNews.com upgraded Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, August 17th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $34.00 price objective on shares of Rayonier in a research report on Friday, June 14th. Finally, Truist Financial decreased their target price on shares of Rayonier from $34.00 to $31.00 and set a “hold” rating on the stock in a report on Tuesday, July 16th.

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.