Massachusetts Financial Services Co. MA Has $107.89 Million Stock Position in Rayonier Inc. (NYSE:RYN)

Massachusetts Financial Services Co. MA boosted its position in Rayonier Inc. (NYSE:RYN) by 26.2% during the 3rd quarter, Holdings Channel reports. The fund owned 3,352,691 shares of the real estate investment trust’s stock after buying an additional 695,810 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Rayonier were worth $107,890,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of RYN. Price T Rowe Associates Inc. MD lifted its holdings in shares of Rayonier by 1.2% in the 1st 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 purchasing an additional 196,571 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Rayonier by 308.5% in 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 buying an additional 23,953 shares in the last quarter. Edgestream Partners L.P. acquired a new position in shares of Rayonier during the second quarter valued at about $732,000. Boston Partners acquired a new stake in shares of Rayonier in the 1st quarter worth about $957,000. Finally, Walleye Trading LLC bought a new position in Rayonier in the 1st quarter valued at about $1,203,000. Institutional investors own 89.12% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Truist Financial boosted 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. StockNews.com upgraded Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, November 16th.

Rayonier Stock Up 2.5 %

Rayonier stock opened at $31.05 on Friday. Rayonier Inc. has a fifty-two week low of $27.40 and a fifty-two week high of $35.29. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.85 and a current ratio of 1.99. The firm’s 50-day simple moving average is $31.38 and its 200 day simple moving average is $30.33. The stock has a market cap of $4.63 billion, a PE ratio of 29.29 and a beta of 1.05.

Rayonier (NYSE:RYN) last released its earnings results 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). The business had revenue of $195.00 million during the quarter, compared to the consensus estimate of $211.21 million. Rayonier had a net margin of 15.84% and a return on equity of 2.95%. The business’s revenue was down 3.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.13 earnings per share. Research analysts predict that Rayonier Inc. will post 0.38 EPS for the current fiscal year.

Rayonier Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date is Tuesday, December 17th. Rayonier’s payout ratio is 107.55%.

Insider Transactions at Rayonier

In related news, Director V. Larkin Martin sold 10,011 shares of Rayonier stock in a transaction that occurred 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 sale, the director now owns 40,168 shares of the company’s stock, valued at approximately $1,227,935.76. The trade was a 19.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company 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.