Global Alpha Capital Management Ltd. Reduces Stake in Rayonier Inc. $RYN

Global Alpha Capital Management Ltd. trimmed its holdings in shares of Rayonier Inc. (NYSE:RYN) by 2.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,657,545 shares of the real estate investment trust’s stock after selling 33,754 shares during the quarter. Rayonier accounts for approximately 2.2% of Global Alpha Capital Management Ltd.’s portfolio, making the stock its 20th biggest position. Global Alpha Capital Management Ltd. owned about 1.03% of Rayonier worth $35,886,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Rayonier during the 4th quarter worth about $34,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Rayonier by 65.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,581 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 627 shares during the last quarter. Hartford Financial Management Inc. increased its position in shares of Rayonier by 49.7% during the 4th quarter. Hartford Financial Management Inc. now owns 1,732 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 575 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Rayonier by 77.9% during the 3rd quarter. Parallel Advisors LLC now owns 2,451 shares of the real estate investment trust’s stock worth $65,000 after purchasing an additional 1,073 shares during the last quarter. Finally, Allworth Financial LP increased its position in shares of Rayonier by 134.8% during the 3rd quarter. Allworth Financial LP now owns 2,858 shares of the real estate investment trust’s stock worth $76,000 after purchasing an additional 1,641 shares during the last quarter. 89.12% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Truist Financial raised their price objective on Rayonier from $24.00 to $25.00 and gave the stock a “hold” rating in a research report on Monday, May 11th. Royal Bank Of Canada set a $24.00 target price on Rayonier in a research note on Thursday, April 16th. Wall Street Zen raised Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, April 18th. BMO Capital Markets decreased their target price on Rayonier from $26.00 to $25.00 and set a “market perform” rating on the stock in a research note on Tuesday, May 19th. Finally, Weiss Ratings lowered Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $24.80.

Insiders Place Their Bets

In related news, CFO Wayne Wasechek sold 2,920 shares of the business’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $21.17, for a total transaction of $61,816.40. Following the completion of the sale, the chief financial officer owned 115,530 shares in the company, valued at $2,445,770.10. The trade was a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.85% of the stock is currently owned by insiders.

Rayonier Price Performance

Shares of RYN opened at $20.97 on Friday. The firm has a market capitalization of $6.31 billion, a price-to-earnings ratio of 6.94 and a beta of 0.88. The firm’s fifty day simple moving average is $20.81 and its 200-day simple moving average is $21.61. Rayonier Inc. has a twelve month low of $19.49 and a twelve month high of $27.33. The company has a current ratio of 2.53, a quick ratio of 2.21 and a debt-to-equity ratio of 0.35.

Rayonier (NYSE:RYN) last issued its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The firm had revenue of $276.79 million during the quarter, compared to the consensus estimate of $280.92 million. Rayonier had a net margin of 68.61% and a return on equity of 3.61%. The company’s revenue was up 233.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. Equities analysts forecast that Rayonier Inc. will post 0.36 EPS for the current fiscal year.

Rayonier Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be paid a dividend of $0.26 per share. The ex-dividend date is Tuesday, June 16th. This represents a $1.04 annualized dividend and a yield of 5.0%. Rayonier’s payout ratio is presently 34.44%.

Rayonier Company Profile

Rayonier, Inc (NYSE: RYN) is a publicly traded real estate investment trust specializing in timberland ownership and management. The company’s core business revolves around sustainably growing, harvesting, and marketing timber and timber-related products. Rayonier’s timberland portfolio encompasses approximately 2.7 million acres across the United States and New Zealand, focusing on softwood and hardwood fiber for use in paper, packaging and building materials.

Rayonier operates through two primary segments: Timber and Real Estate Solutions.