Rayonier Inc. (NYSE:RYN) Shares Sold by First Affirmative Financial Network

First Affirmative Financial Network cut its holdings in Rayonier Inc. (NYSE:RYN) by 5.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 7,671 shares of the real estate investment trust’s stock after selling 470 shares during the period. First Affirmative Financial Network’s holdings in Rayonier were worth $200,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Sei Investments Co. increased its stake in Rayonier by 1.3% in the second quarter. Sei Investments Co. now owns 30,341 shares of the real estate investment trust’s stock valued at $883,000 after purchasing an additional 391 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Rayonier by 2.3% during the 4th quarter. Pacer Advisors Inc. now owns 19,993 shares of the real estate investment trust’s stock valued at $522,000 after acquiring an additional 442 shares during the last quarter. CWM LLC lifted its holdings in shares of Rayonier by 20.6% during the 3rd quarter. CWM LLC now owns 2,849 shares of the real estate investment trust’s stock worth $92,000 after acquiring an additional 487 shares during the period. Bank of Montreal Can boosted its position in shares of Rayonier by 2.1% in the second quarter. Bank of Montreal Can now owns 23,606 shares of the real estate investment trust’s stock worth $716,000 after acquiring an additional 490 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Rayonier by 41.8% in the fourth quarter. GAMMA Investing LLC now owns 1,733 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 511 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 equities analysts have weighed in on the stock. Truist Financial decreased their price target on shares of Rayonier from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Monday, January 6th. Citigroup lowered their price target on Rayonier from $32.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Finally, StockNews.com upgraded Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Four investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $29.67.

Rayonier Stock Performance

Shares of RYN stock opened at $26.30 on Friday. The company has a current ratio of 1.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.71. The company has a market cap of $3.92 billion, a PE ratio of 24.81 and a beta of 1.04. The company’s fifty day simple moving average is $27.83 and its 200-day simple moving average is $29.74. Rayonier Inc. has a 52 week low of $24.88 and a 52 week high of $35.29.

Rayonier (NYSE:RYN) last released its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). Rayonier had a net margin of 15.84% and a return on equity of 2.95%. The company had revenue of $195.00 million during the quarter, compared to analysts’ expectations of $211.21 million. During the same period last year, the business earned $0.13 earnings per share. The company’s revenue for the quarter was down 3.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Rayonier Inc. will post 0.38 EPS for the current year.

Rayonier announced that its board has authorized a share buyback plan on Monday, December 2nd that permits the company to buyback $300.00 million in shares. This buyback authorization permits the real estate investment trust to repurchase up to 6.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Rayonier Increases Dividend

The company also recently disclosed a special dividend, which was paid on Thursday, January 30th. Shareholders of record on Thursday, December 12th were given a $1.80 dividend. This is an increase from Rayonier’s previous special dividend of $0.20. Rayonier’s dividend payout ratio (DPR) is 107.55%.

Rayonier Company 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.