Sumitomo Mitsui Trust Group Inc. Lowers Position in Rayonier Inc. (NYSE:RYN)

Sumitomo Mitsui Trust Group Inc. cut its stake in shares of Rayonier Inc. (NYSE:RYN) by 6.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 56,557 shares of the real estate investment trust’s stock after selling 4,101 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Rayonier were worth $1,820,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of RYN. Advisors Asset Management Inc. bought a new stake in shares of Rayonier during the first quarter valued at approximately $26,000. V Square Quantitative Management LLC bought a new stake in shares of Rayonier during the third quarter valued at approximately $25,000. GAMMA Investing LLC raised its position in shares of Rayonier by 53.5% during the second quarter. GAMMA Investing LLC now owns 1,079 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 376 shares during the last quarter. Venturi Wealth Management LLC raised its position in shares of Rayonier by 165.1% during the third quarter. Venturi Wealth Management LLC now owns 1,079 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 672 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of Rayonier by 539.9% during the third quarter. Blue Trust Inc. now owns 1,235 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 1,042 shares during the last quarter. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on RYN shares. Truist Financial lifted their price objective on shares of Rayonier from $31.00 to $32.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. StockNews.com raised shares of Rayonier from a “sell” rating to a “hold” rating in a report on Saturday.

Insiders Place Their Bets

In other Rayonier news, Director V. Larkin Martin sold 10,011 shares of Rayonier stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $30.57, for a total transaction 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 $1,227,935.76. The trade was a 19.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.83% of the stock is owned by insiders.

Rayonier Trading Down 0.2 %

RYN stock opened at $30.07 on Wednesday. The firm has a fifty day moving average price of $31.44 and a 200 day moving average price of $30.32. 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 has a market cap of $4.48 billion, a PE ratio of 28.37 and a beta of 1.05.

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 business had revenue of $195.00 million during the quarter, compared to analysts’ expectations of $211.21 million. Rayonier had a net margin of 15.84% and a return on equity of 2.95%. The company’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period last year, the business posted $0.13 earnings per share. Sell-side analysts anticipate that Rayonier Inc. will post 0.38 earnings per share for the current fiscal year.

Rayonier Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend is Tuesday, December 17th. Rayonier’s payout ratio is 107.55%.

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.