Advisors Asset Management Inc. Purchases 11,892 Shares of Rayonier Inc. (NYSE:RYN)

Advisors Asset Management Inc. raised its position in Rayonier Inc. (NYSE:RYN) by 948.3% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 13,146 shares of the real estate investment trust’s stock after acquiring an additional 11,892 shares during the period. Advisors Asset Management Inc.’s holdings in Rayonier were worth $423,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Impax Asset Management Group plc increased its position in shares of Rayonier by 17.3% in the second quarter. Impax Asset Management Group plc now owns 6,815,188 shares of the real estate investment trust’s stock valued at $197,226,000 after acquiring an additional 1,004,357 shares during the last quarter. Teramo Advisors LLC acquired a new position in shares of Rayonier during the 2nd quarter worth approximately $9,309,000. Crossmark Global Holdings Inc. increased its position in shares of Rayonier by 2,950.1% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 296,222 shares of the real estate investment trust’s stock worth $9,532,000 after purchasing an additional 286,510 shares during the last quarter. Millennium Management LLC raised its stake in shares of Rayonier by 56.7% during the 2nd quarter. Millennium Management LLC now owns 752,847 shares of the real estate investment trust’s stock worth $21,900,000 after purchasing an additional 272,349 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new position in shares of Rayonier in the second quarter valued at $3,275,000. Institutional investors and hedge funds own 89.12% of the company’s stock.

Insider Transactions at Rayonier

In related 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 transaction, the director now directly owns 40,168 shares in the company, valued at approximately $1,227,935.76. This represents a 19.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.83% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Truist Financial upped their price target 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 upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th.

Rayonier Trading Up 1.1 %

Shares of Rayonier stock opened at $31.82 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.99 and a quick ratio of 1.85. The business has a fifty day simple moving average of $31.38 and a two-hundred day simple moving average of $30.37. Rayonier Inc. has a 1 year low of $27.40 and a 1 year high of $35.29. The company has a market capitalization of $4.74 billion, a price-to-earnings ratio of 30.02 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). Rayonier had a return on equity of 2.95% and a net margin of 15.84%. The company had revenue of $195.00 million for the quarter, compared to analyst estimates of $211.21 million. During the same quarter in the prior year, the business posted $0.13 EPS. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. Research analysts forecast that Rayonier Inc. will post 0.38 EPS for the current year.

Rayonier Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be given a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 3.58%. The ex-dividend date is Tuesday, December 17th. Rayonier’s payout ratio is 107.55%.

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.