The Manufacturers Life Insurance Company Has $13.92 Million Stake in Rayonier Inc. (NYSE:RYN)

The Manufacturers Life Insurance Company reduced its stake in shares of Rayonier Inc. (NYSE:RYN) by 3.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 432,518 shares of the real estate investment trust’s stock after selling 16,778 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Rayonier were worth $13,918,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Impax Asset Management Group plc grew its holdings in Rayonier by 17.3% during 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 purchasing an additional 1,004,357 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Rayonier by 26.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,352,691 shares of the real estate investment trust’s stock valued at $107,890,000 after buying an additional 695,810 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Rayonier by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,441,846 shares of the real estate investment trust’s stock valued at $78,579,000 after buying an additional 7,733 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Rayonier by 0.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,240,608 shares of the real estate investment trust’s stock worth $36,089,000 after buying an additional 10,536 shares during the period. Finally, Global Alpha Capital Management Ltd. lifted its holdings in Rayonier by 2.9% during the third quarter. Global Alpha Capital Management Ltd. now owns 1,034,127 shares of the real estate investment trust’s stock worth $33,278,000 after acquiring an additional 28,800 shares in the last quarter. 89.12% of the stock is owned by institutional investors.

Insider Buying and Selling at Rayonier

In other Rayonier news, Director V. Larkin Martin sold 10,011 shares of the firm’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 transaction, the director now directly owns 40,168 shares in the company, valued at $1,227,935.76. This trade represents a 19.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.83% of the company’s stock.

Rayonier Stock Performance

RYN opened at $31.87 on Monday. The company has a market capitalization of $4.75 billion, a price-to-earnings ratio of 30.07 and a beta of 1.05. The business’s 50-day moving average price is $31.38 and its two-hundred day moving average price is $30.40. Rayonier Inc. has a 1 year low of $27.40 and a 1 year high of $35.29. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.99 and a quick ratio of 1.85.

Rayonier (NYSE:RYN) last released its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). The firm 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 company’s revenue was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.13 EPS. Equities analysts expect 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. Investors of record on Tuesday, December 17th will be given a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend is Tuesday, December 17th. Rayonier’s dividend payout ratio (DPR) is currently 107.55%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RYN. Truist Financial increased their price target on Rayonier from $31.00 to $32.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. StockNews.com raised Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th.

About Rayonier

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.