State of New Jersey Common Pension Fund D Purchases 768 Shares of Rayonier Inc. (NYSE:RYN)

State of New Jersey Common Pension Fund D raised its holdings in shares of Rayonier Inc. (NYSE:RYN) by 1.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 65,078 shares of the real estate investment trust’s stock after acquiring an additional 768 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Rayonier were worth $2,094,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its stake in 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 valued at $541,645,000 after purchasing an additional 196,571 shares in the last quarter. SG Americas Securities LLC grew 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 Rayonier during the second quarter worth $732,000. Boston Partners bought a new stake in Rayonier during the first quarter worth $957,000. Finally, Walleye Trading LLC acquired a new stake in Rayonier in the first quarter valued at $1,203,000. 89.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RYN has been the topic of a number of research analyst reports. StockNews.com raised shares of Rayonier from a “sell” rating to a “hold” rating in a report on Saturday. Truist Financial boosted their price target on Rayonier from $31.00 to $32.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th.

Rayonier Price Performance

Shares of NYSE RYN opened at $29.97 on Friday. The firm has a market cap of $4.47 billion, a P/E ratio of 28.27 and a beta of 1.05. The business’s 50 day moving average is $31.46 and its 200-day moving average is $30.30. The company has a current ratio of 1.99, a quick ratio of 1.78 and a debt-to-equity ratio of 0.71. Rayonier Inc. has a 1-year low of $27.40 and a 1-year high of $35.29.

Rayonier (NYSE:RYN) last posted its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The firm had revenue of $195.00 million for the quarter, compared to analyst estimates of $211.21 million. Rayonier had a return on equity of 2.95% and a net margin of 15.84%. The firm’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.13 EPS. Equities research analysts predict that Rayonier Inc. will post 0.38 earnings per share for the current year.

Rayonier Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date is Tuesday, December 17th. Rayonier’s dividend payout ratio is currently 107.55%.

Insiders Place Their Bets

In related news, Director V. Larkin Martin sold 10,011 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was 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 in the company, valued at approximately $1,227,935.76. The trade was a 19.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.83% of the company’s stock.

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.