Hsbc Holdings PLC Decreases Stock Position in Rayonier Inc. $RYN

Key Points

• Hsbc Holdings PLC reduced its stake in Rayonier Inc. (NYSE:RYN) by 51.0% in the first quarter, now holding 22,477 shares valued at approximately $626,000.
• Rayonier announced a quarterly dividend of $0.2725 per share, with a dividend yield of 4.1%, payable on September 30th to stockholders of record.
• Rayonier's stock has recently shown a 0.2% increase in value, with a market capitalization of $4.05 billion and earnings per share of $0.06, surpassing analysts' estimates.

Hsbc Holdings PLC trimmed its stake in shares of Rayonier Inc. (NYSE:RYN - Free Report) by 51.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,477 shares of the real estate investment trust's stock after selling 23,402 shares during the period. Hsbc Holdings PLC's holdings in Rayonier were worth $626,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. American National Bank & Trust acquired a new stake in shares of Rayonier during the first quarter worth $28,000. Elequin Capital LP acquired a new position in shares of Rayonier in the first quarter valued at $30,000. Parallel Advisors LLC raised its holdings in Rayonier by 133.5% in the 1st quarter. Parallel Advisors LLC now owns 1,123 shares of the real estate investment trust's stock valued at $31,000 after acquiring an additional 642 shares during the period. GKV Capital Management Co. Inc. bought a new position in shares of Rayonier during the first quarter worth approximately $32,000. Finally, Byrne Asset Management LLC acquired a new stake in shares of Rayonier during the first quarter worth $38,000. 89.12% of the stock is currently owned by institutional investors and hedge funds.

Rayonier Stock Up 1.5%

NYSE RYN traded up $0.38 during trading hours on Thursday, hitting $26.12. The company's stock had a trading volume of 333,077 shares, compared to its average volume of 1,097,270. The company has a market capitalization of $4.03 billion, a PE ratio of 5.28 and a beta of 1.01. The company has a current ratio of 3.50, a quick ratio of 3.38 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 company's 50-day simple moving average is $24.58 and its two-hundred day simple moving average is $24.86.

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

Rayonier Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a $0.2725 dividend. 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%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Citigroup boosted their price target on Rayonier from $26.00 to $27.00 and gave the company a "neutral" rating in a research note on Thursday, August 21st. Royal Bank Of Canada boosted their price objective on shares of Rayonier from $26.00 to $27.00 and gave the company a "sector perform" rating in a research report on Friday, August 8th. Finally, Wall Street Zen upgraded shares of Rayonier from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $28.00.

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.