Sequoia Financial Advisors LLC Decreases Stock Holdings in Rayonier Inc. $RYN

Key Points

• Sequoia Financial Advisors cut its Rayonier stake by 55% in the second quarter, selling 51,781 shares and retaining 42,450 shares valued at approximately $903,000.
• Analysts remain generally neutral on Rayonier, with one Strong Buy and five Hold ratings. The average price target is $24.80, while the stock recently traded near $20.01.
• Rayonier declared a quarterly dividend of $0.26 per share, equivalent to an annualized $1.04 payout and a 5.2% yield; the company also reported quarterly revenue growth of 272.3% year over year.

Sequoia Financial Advisors LLC decreased its stake in shares of Rayonier Inc. (NYSE:RYN - Free Report) by 55.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,450 shares of the real estate investment trust's stock after selling 51,781 shares during the period. Sequoia Financial Advisors LLC's holdings in Rayonier were worth $903,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Painted Porch Advisors LLC raised its stake in Rayonier by 4.9% during the 4th quarter. Painted Porch Advisors LLC now owns 14,421 shares of the real estate investment trust's stock valued at $312,000 after buying an additional 671 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Rayonier by 2.1% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 37,158 shares of the real estate investment trust's stock worth $804,000 after buying an additional 758 shares during the last quarter. Gabelli Funds LLC grew its holdings in shares of Rayonier by 4.6% in the fourth quarter. Gabelli Funds LLC now owns 18,051 shares of the real estate investment trust's stock worth $391,000 after acquiring an additional 791 shares during the period. Bollard Group LLC grew its holdings in shares of Rayonier by 2.3% in the fourth quarter. Bollard Group LLC now owns 37,042 shares of the real estate investment trust's stock worth $802,000 after acquiring an additional 823 shares during the period. Finally, Natural Investments LLC grew its holdings in shares of Rayonier by 5.4% in the second quarter. Natural Investments LLC now owns 16,382 shares of the real estate investment trust's stock worth $348,000 after acquiring an additional 833 shares during the period. Hedge funds and other institutional investors own 89.12% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RYN. Weiss Ratings upgraded Rayonier from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, August 21st. Truist Financial dropped their target price on Rayonier from $25.00 to $24.00 and set a "hold" rating on the stock in a research report on Wednesday, July 15th. Finally, Citigroup upped their price target on shares of Rayonier from $22.00 to $23.00 and gave the company a "neutral" rating in a research report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $24.80.

Insider Activity at Rayonier

In other news, EVP Mark Bridwell sold 5,318 shares of the firm's stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $20.19, for a total value of $107,370.42. Following the transaction, the executive vice president owned 131,661 shares of the company's stock, valued at $2,658,235.59. This trade represents a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.85% of the stock is owned by company insiders.

Rayonier Trading Down 0.2%

Shares of Rayonier stock opened at $20.01 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.56 and a quick ratio of 2.91. The stock has a market capitalization of $5.95 billion, a PE ratio of 44.46 and a beta of 0.87. Rayonier Inc. has a 1-year low of $19.49 and a 1-year high of $27.06. The company's fifty day simple moving average is $21.17 and its 200-day simple moving average is $21.00.

Rayonier (NYSE:RYN - Get Free Report) last announced its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.10 EPS for the quarter, hitting analysts' consensus estimates of $0.10. The company had revenue of $396.51 million for the quarter, compared to analysts' expectations of $374.28 million. Rayonier had a return on equity of 3.49% and a net margin of 7.83%.Rayonier's revenue for the quarter was up 272.3% compared to the same quarter last year. During the same period last year, the firm earned $0.06 EPS. As a group, equities analysts anticipate that Rayonier Inc. will post 0.44 earnings per share for the current year.

Rayonier Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be given a $0.26 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $1.04 dividend on an annualized basis and a yield of 5.2%. Rayonier's dividend payout ratio is presently 231.11%.

Rayonier Profile

Rayonier Inc NYSE: RYN is a real estate investment trust that owns, leases and manages timberlands. The company generates revenue primarily through the sustainable harvesting and sale of timber, including sawtimber, pulpwood and chip products used in construction, packaging, pulp and paper manufacturing, and other wood products industries.

Rayonier's timberland portfolio spans the U.S. South, the Pacific Northwest and New Zealand. In addition to timber operations, the company manages a real estate business that monetizes land through rural and recreational property sales, residential and commercial development, conservation transactions, and other higher-value uses.

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