Impax Asset Management Group plc Sells 736,120 Shares of Rayonier Inc. (NYSE:RYN)

Impax Asset Management Group plc reduced its stake in shares of Rayonier Inc. (NYSE:RYN - Free Report) by 12.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 5,227,844 shares of the real estate investment trust's stock after selling 736,120 shares during the period. Impax Asset Management Group plc owned approximately 3.35% of Rayonier worth $144,668,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of RYN. Oppenheimer & Co. Inc. acquired a new stake in Rayonier during the 4th quarter worth approximately $327,000. Proficio Capital Partners LLC acquired a new stake in Rayonier during the 4th quarter worth approximately $648,000. US Bancorp DE raised its holdings in Rayonier by 15.9% during the 4th quarter. US Bancorp DE now owns 13,139 shares of the real estate investment trust's stock worth $343,000 after buying an additional 1,807 shares during the period. Steward Partners Investment Advisory LLC raised its holdings in shares of Rayonier by 264.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,677 shares of the real estate investment trust's stock valued at $44,000 after purchasing an additional 1,217 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Rayonier by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,488,802 shares of the real estate investment trust's stock valued at $64,958,000 after purchasing an additional 46,956 shares during the last quarter. 89.12% of the stock is currently owned by institutional investors and hedge funds.

Rayonier Stock Performance

NYSE RYN traded down $0.06 on Friday, hitting $23.11. 721,430 shares of the stock were exchanged, compared to its average volume of 911,218. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.71 and a quick ratio of 2.60. The business's fifty day moving average is $23.38 and its 200 day moving average is $25.19. Rayonier Inc. has a 52 week low of $21.84 and a 52 week high of $31.29. The company has a market capitalization of $3.60 billion, a PE ratio of 9.92 and a beta of 1.02.

Rayonier (NYSE:RYN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.10). Rayonier had a return on equity of 3.29% and a net margin of 30.09%. The firm had revenue of $82.90 million for the quarter, compared to the consensus estimate of $152.99 million. During the same period last year, the company posted $0.01 earnings per share. The business's revenue was down 27.1% compared to the same quarter last year. Research analysts anticipate that Rayonier Inc. will post 0.55 EPS for the current fiscal year.

Rayonier Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a yield of 4.72%. The ex-dividend date was Monday, June 16th. Rayonier's dividend payout ratio (DPR) is currently 46.78%.

Analyst Upgrades and Downgrades

RYN has been the topic of a number of recent research reports. Truist Financial lowered their price objective on shares of Rayonier from $30.00 to $27.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. Royal Bank Of Canada lowered their price objective on shares of Rayonier from $28.00 to $27.00 and set a "sector perform" rating on the stock in a report on Friday, May 2nd. Citigroup lowered their price objective on shares of Rayonier from $27.00 to $26.00 and set a "neutral" rating on the stock in a report on Tuesday, June 3rd. Raymond James Financial upgraded shares of Rayonier from a "market perform" rating to an "outperform" rating and set a $31.00 price objective on the stock in a report on Wednesday, March 12th. Finally, Wall Street Zen upgraded shares of Rayonier from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $27.75.

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.