Nomura Holdings Inc. Trims Stock Position in Rayonier Inc. $RYN

Key Points

• Nomura Holdings Inc. reduced its stake in Rayonier Inc. by 77.4%, selling 25,060 shares, which brings its holdings down to 7,298 shares valued at approximately $203,000.
• Rayonier reported $0.06 earnings per share for the latest quarter, exceeding analysts' estimates, along with a revenue of $106.5 million, which also surpassed expectations.
• The company declared a quarterly dividend of $0.2725 per share, which translates to an annualized yield of 4.1% and has a payout ratio of 22.02%.

Nomura Holdings Inc. reduced its stake in Rayonier Inc. (NYSE:RYN - Free Report) by 77.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,298 shares of the real estate investment trust's stock after selling 25,060 shares during the quarter. Nomura Holdings Inc.'s holdings in Rayonier were worth $203,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in RYN. American National Bank & Trust acquired a new stake in Rayonier during the first quarter worth $28,000. Elequin Capital LP purchased a new stake in Rayonier in the first quarter valued at approximately $30,000. Parallel Advisors LLC lifted its stake in Rayonier by 133.5% during the first 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 in the last quarter. GKV Capital Management Co. Inc. acquired a new stake in shares of Rayonier in the first quarter valued at $32,000. Finally, Byrne Asset Management LLC acquired a new stake in shares of Rayonier in the first quarter valued at $38,000. Institutional investors and hedge funds own 89.12% of the company's stock.

Analyst Upgrades and Downgrades

RYN has been the subject of a number of research analyst reports. Wall Street Zen upgraded Rayonier from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Citigroup raised their price objective on shares of Rayonier from $26.00 to $27.00 and gave the company a "neutral" rating in a research note on Thursday, August 21st. Finally, Royal Bank Of Canada lifted their price objective on shares of Rayonier from $26.00 to $27.00 and gave the company a "sector perform" rating in a report on Friday, August 8th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $28.00.

Rayonier Stock Up 2.3%

Rayonier stock traded up $0.60 during trading on Thursday, reaching $26.78. The stock had a trading volume of 1,219,139 shares, compared to its average volume of 852,967. The company has a quick ratio of 3.38, a current ratio of 3.50 and a debt-to-equity ratio of 0.37. Rayonier Inc. has a 52-week low of $21.84 and a 52-week high of $32.88. The stock has a market cap of $4.13 billion, a PE ratio of 5.41 and a beta of 1.01. The business has a 50 day moving average price of $25.04 and a 200 day moving average price of $24.89.

Rayonier (NYSE:RYN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.03. The business had revenue of $106.50 million for the quarter, compared to analyst estimates of $95.30 million. Rayonier had a net margin of 68.53% and a return on equity of 3.39%. The company's revenue was up 6.9% on a year-over-year basis. During the same period last year, the business earned $0.02 EPS. On average, analysts predict that Rayonier Inc. will post 0.55 EPS for the current year.

Rayonier Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Tuesday, September 16th. Rayonier's dividend payout ratio is currently 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.