Rayonier Inc. $RYN Shares Sold by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. reduced its stake in Rayonier Inc. by 3.8%, holding approximately 10.90% of the company worth $473.4 million after the sale of 674,861 shares.
• Rayonier reported $0.06 earnings per share for the recent quarter, surpassing analysts' expectations, and its revenue increased by 6.9% year-over-year, reaching $106.5 million.
• The company announced a quarterly dividend of $0.2725 per share, which translates to a 4.0% yield, set to be paid on September 30th to shareholders of record on September 16th.

Price T Rowe Associates Inc. MD trimmed its stake in Rayonier Inc. (NYSE:RYN - Free Report) by 3.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,980,154 shares of the real estate investment trust's stock after selling 674,861 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 10.90% of Rayonier worth $473,408,000 at the end of the most recent quarter.

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

Rayonier Stock Performance

Shares of Rayonier stock opened at $27.1330 on Friday. The stock has a market cap of $4.18 billion, a PE ratio of 5.48 and a beta of 1.00. The business has a fifty day simple moving average of $24.00 and a 200-day simple moving average of $24.83. 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 12 month low of $21.84 and a 12 month high of $32.88.

Rayonier (NYSE:RYN - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.03. The firm had revenue of $106.50 million during 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%.The business's revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.02 earnings per share. On average, sell-side analysts anticipate 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 annualized dividend and a yield of 4.0%. The ex-dividend date is Tuesday, September 16th. Rayonier's dividend payout ratio (DPR) is 22.02%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Citigroup lifted their target price on Rayonier from $26.00 to $27.00 and gave the stock a "neutral" rating in a report on Thursday. Royal Bank Of Canada raised their target price on Rayonier from $26.00 to $27.00 and gave the stock a "sector perform" rating in a research report on Friday, August 8th. Finally, Wall Street Zen raised Rayonier from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $28.00.

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.

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