Rayonier Inc. $RYN Shares Sold by Third Avenue Management LLC

Third Avenue Management LLC decreased its holdings in shares of Rayonier Inc. (NYSE:RYN) by 18.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 258,499 shares of the real estate investment trust’s stock after selling 57,301 shares during the period. Rayonier makes up about 1.4% of Third Avenue Management LLC’s holdings, making the stock its 26th biggest position. Third Avenue Management LLC owned approximately 0.17% of Rayonier worth $7,207,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American National Bank & Trust acquired a new position in Rayonier during the 1st quarter worth approximately $28,000. Elequin Capital LP acquired a new position in Rayonier during the 1st quarter worth approximately $30,000. Parallel Advisors LLC increased its position in Rayonier by 133.5% during the 1st quarter. Parallel Advisors LLC now owns 1,123 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 642 shares during the period. GKV Capital Management Co. Inc. acquired a new position in Rayonier during the 1st quarter worth approximately $32,000. Finally, Byrne Asset Management LLC acquired a new position in Rayonier during the 1st quarter worth approximately $38,000. Institutional investors and hedge funds own 89.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RYN. Citigroup dropped their target price on Rayonier from $27.00 to $26.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 3rd. Royal Bank Of Canada upped their price target on Rayonier from $26.00 to $27.00 and gave the stock a “sector perform” rating in a report on Friday, August 8th. Truist Financial lowered their price target on Rayonier from $30.00 to $27.00 and set a “hold” rating on the stock in a report on Tuesday, April 22nd. Finally, Wall Street Zen upgraded Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $27.75.

Rayonier Price Performance

Shares of NYSE:RYN opened at $26.17 on Tuesday. The business’s fifty day moving average price is $23.77 and its two-hundred day moving average price is $24.79. The stock has a market cap of $4.03 billion, a PE ratio of 5.29 and a beta of 1.00. The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.38 and a current ratio of 3.50. Rayonier Inc. has a one year low of $21.84 and a one year high of $32.88.

Rayonier (NYSE:RYN) last announced its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. The firm had revenue of $106.50 million for the quarter, compared to analysts’ expectations of $95.30 million. Rayonier had a return on equity of 3.39% and a net margin of 68.53%. Rayonier’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.02 EPS. On average, analysts forecast that Rayonier Inc. will post 0.55 EPS for the current fiscal year.

Rayonier Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Tuesday, September 16th. Rayonier’s dividend payout ratio is 22.02%.

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.