Rayonier Inc. (NYSE:RYN) Shares Sold by Confluence Investment Management LLC

Confluence Investment Management LLC trimmed its stake in shares of Rayonier Inc. (NYSE:RYN) by 1.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,087,364 shares of the real estate investment trust’s stock after selling 36,133 shares during the quarter. Confluence Investment Management LLC owned about 1.40% of Rayonier worth $67,171,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Harbor Capital Advisors Inc. acquired a new stake in Rayonier in the third quarter worth $75,000. Brighton Jones LLC bought a new position in shares of Rayonier during the third quarter worth about $211,000. International Assets Investment Management LLC grew its position in shares of Rayonier by 3,118.0% during the third quarter. International Assets Investment Management LLC now owns 16,991 shares of the real estate investment trust’s stock worth $528,000 after acquiring an additional 16,463 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Rayonier in the 3rd quarter worth about $2,525,000. Finally, Allspring Global Investments Holdings LLC lifted its position in Rayonier by 53.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,999 shares of the real estate investment trust’s stock valued at $97,000 after purchasing an additional 1,047 shares during the last quarter. Institutional investors own 89.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on RYN shares. StockNews.com upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, August 17th. Truist Financial increased their price objective on Rayonier from $31.00 to $32.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th.

Rayonier Stock Performance

RYN stock opened at $31.64 on Friday. The company has a 50-day simple moving average of $31.54 and a 200 day simple moving average of $30.31. The company has a market capitalization of $4.71 billion, a P/E ratio of 29.85 and a beta of 1.05. The company has a quick ratio of 1.78, a current ratio of 1.98 and a debt-to-equity ratio of 0.75. Rayonier Inc. has a fifty-two week low of $27.40 and a fifty-two week high of $35.29.

Rayonier (NYSE:RYN) last posted its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.01). Rayonier had a net margin of 14.78% and a return on equity of 3.00%. 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 business earned $0.13 earnings per share. The company’s revenue was down 3.3% on a year-over-year basis. Sell-side analysts predict that Rayonier Inc. will post 0.38 earnings per share for the current fiscal year.

Rayonier Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a dividend of $0.285 per share. The ex-dividend date is Tuesday, December 17th. This represents a $1.14 annualized dividend and a yield of 3.60%. Rayonier’s dividend payout ratio is currently 107.55%.

Insider Buying and Selling

In other Rayonier news, Director V. Larkin Martin sold 10,011 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were 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 of the company’s stock, valued at approximately $1,227,935.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.83% of the stock is owned by corporate insiders.

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.