Old Port Advisors Has $2.24 Million Stake in Rayonier Inc. (NYSE:RYN)

Old Port Advisors reduced its holdings in Rayonier Inc. (NYSE:RYN) by 2.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,743 shares of the real estate investment trust’s stock after selling 1,511 shares during the quarter. Old Port Advisors’ holdings in Rayonier were worth $2,244,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of RYN. BNP Paribas Financial Markets grew its holdings in shares of Rayonier by 138.7% during the first quarter. BNP Paribas Financial Markets now owns 161,368 shares of the real estate investment trust’s stock worth $5,364,000 after purchasing an additional 93,768 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in Rayonier in the 1st quarter valued at about $961,000. Price T Rowe Associates Inc. MD raised its stake in shares of Rayonier by 1.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 16,294,936 shares of the real estate investment trust’s stock worth $541,645,000 after acquiring an additional 196,571 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Rayonier during the first quarter worth approximately $729,000. Finally, SG Americas Securities LLC grew its stake in shares of Rayonier by 308.5% during the second quarter. SG Americas Securities LLC now owns 31,717 shares of the real estate investment trust’s stock valued at $923,000 after purchasing an additional 23,953 shares during the last quarter. 89.12% of the stock is currently owned by institutional investors.

Rayonier Stock Down 0.1 %

Shares of NYSE:RYN opened at $31.43 on Tuesday. The company has a 50 day moving average price of $31.32 and a two-hundred day moving average price of $30.27. The company has a market capitalization of $4.68 billion, a PE ratio of 31.43 and a beta of 1.04. Rayonier Inc. has a 52 week low of $24.84 and a 52 week high of $35.29. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.78 and a current ratio of 1.98.

Rayonier (NYSE:RYN) last released its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.12). The firm had revenue of $173.60 million during the quarter, compared to the consensus estimate of $218.86 million. Rayonier had a net margin of 14.78% and a return on equity of 3.00%. Rayonier’s quarterly revenue was down 16.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.05 EPS. Analysts forecast that Rayonier Inc. will post 0.38 earnings per share for the current year.

Rayonier Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 3.63%. The ex-dividend date is Tuesday, December 17th. Rayonier’s dividend payout ratio (DPR) is presently 114.00%.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, Director V. Larkin Martin sold 10,011 shares of the company’s stock in a transaction on 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 transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.83% of the company’s stock.

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.