Russell Investments Group Ltd. Sells 139,732 Shares of Rayonier Inc. $RYN

Key Points

• Russell Investments Group Ltd. reduced its stake in Rayonier Inc. by 19.6% in the first quarter, holding approximately 573,305 shares valued at $15,984,000 after selling 139,732 shares.
• Rayonier recently declared a quarterly dividend of $0.2725, with an annualized dividend of $1.09, resulting in a dividend yield of 4.1%.
• The company reported a quarterly profit of $0.06 EPS, exceeding analysts' expectations and reflecting a 6.9% increase in revenue year-over-year.

Russell Investments Group Ltd. lowered its stake in shares of Rayonier Inc. (NYSE:RYN - Free Report) by 19.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 573,305 shares of the real estate investment trust's stock after selling 139,732 shares during the quarter. Russell Investments Group Ltd. owned about 0.37% of Rayonier worth $15,984,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Securian Asset Management Inc. boosted its position in Rayonier by 4.6% during the first quarter. Securian Asset Management Inc. now owns 10,603 shares of the real estate investment trust's stock worth $296,000 after purchasing an additional 466 shares during the period. Shell Asset Management Co. increased its stake in shares of Rayonier by 4.5% in the fourth quarter. Shell Asset Management Co. now owns 11,652 shares of the real estate investment trust's stock worth $304,000 after purchasing an additional 497 shares during the period. Hollencrest Capital Management increased its stake in shares of Rayonier by 5.1% in the first quarter. Hollencrest Capital Management now owns 10,509 shares of the real estate investment trust's stock worth $293,000 after purchasing an additional 509 shares during the period. Hamilton Point Investment Advisors LLC increased its stake in shares of Rayonier by 4.5% in the first quarter. Hamilton Point Investment Advisors LLC now owns 13,183 shares of the real estate investment trust's stock worth $368,000 after purchasing an additional 563 shares during the period. Finally, Timber Creek Capital Management LLC increased its stake in shares of Rayonier by 4.5% in the first quarter. Timber Creek Capital Management LLC now owns 13,957 shares of the real estate investment trust's stock worth $389,000 after purchasing an additional 596 shares during the period. Institutional investors own 89.12% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on RYN. Wall Street Zen upgraded Rayonier from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Citigroup increased their price target on shares of Rayonier from $26.00 to $27.00 and gave the company a "neutral" rating in a report on Thursday. Finally, Royal Bank Of Canada increased their price target 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 investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Rayonier presently has a consensus rating of "Hold" and a consensus target price of $28.00.

Rayonier Stock Performance

Rayonier stock traded up $0.6150 on Friday, hitting $27.2350. The company's stock had a trading volume of 191,554 shares, compared to its average volume of 1,103,449. The company has a fifty day moving average price of $23.93 and a 200-day moving average price of $24.82. The firm has a market cap of $4.20 billion, a P/E ratio of 5.50 and a beta of 1.00. Rayonier Inc. has a one year low of $21.84 and a one year high of $32.88. 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 (NYSE:RYN - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.06 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.03. The company had revenue of $106.50 million during the quarter, compared to the consensus estimate of $95.30 million. Rayonier had a net margin of 68.53% and a return on equity of 3.39%. The firm's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the firm earned $0.02 EPS. On average, equities analysts anticipate that Rayonier Inc. will post 0.55 earnings per share 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 issued a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Tuesday, September 16th. Rayonier's dividend payout ratio (DPR) is presently 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.