Rayonier Inc. $RYN Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lowered its position in shares of Rayonier Inc. (NYSE:RYN) by 46.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,058 shares of the real estate investment trust’s stock after selling 30,189 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Rayonier were worth $644,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. V Square Quantitative Management LLC bought a new position in Rayonier during the 3rd quarter valued at about $26,000. Bayban bought a new stake in Rayonier during the first quarter worth about $36,000. Whittier Trust Co. grew its stake in Rayonier by 74.0% during the first quarter. Whittier Trust Co. now owns 2,279 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 969 shares during the last quarter. North Star Investment Management Corp. acquired a new stake in shares of Rayonier during the first quarter worth approximately $51,000. Finally, Sunbelt Securities Inc. increased its holdings in shares of Rayonier by 124,900.0% during the first quarter. Sunbelt Securities Inc. now owns 2,500 shares of the real estate investment trust’s stock worth $52,000 after buying an additional 2,498 shares in the last quarter. Institutional investors and hedge funds own 89.12% of the company’s stock.

Wall Street Analyst Weigh In

RYN has been the subject of a number of research analyst reports. Weiss Ratings upgraded shares of Rayonier from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, August 21st. Seaport Research Partners reissued a “buy” rating and issued a $30.00 target price on shares of Rayonier in a report on Thursday, October 8th. Truist Financial decreased their price target on Rayonier from $24.00 to $22.00 and set a “hold” rating on the stock in a research report on Monday, October 12th. Royal Bank Of Canada dropped their price target on Rayonier from $24.00 to $20.00 and set a “sector perform” rating for the company in a report on Friday, October 16th. Finally, Citigroup cut their price objective on Rayonier from $23.00 to $19.00 and set a “neutral” rating for the company in a research report on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $22.80.

Rayonier Stock Up 1.4%

Shares of NYSE RYN opened at $19.22 on Wednesday. The firm’s 50-day simple moving average is $19.62 and its 200 day simple moving average is $21.04. The company has a market cap of $5.72 billion, a price-to-earnings ratio of 42.71 and a beta of 0.89. Rayonier Inc. has a 12-month low of $17.71 and a 12-month high of $24.82.

Rayonier (NYSE:RYN) last issued its quarterly earnings data 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 the consensus estimate of $374.28 million. During the same period in the prior year, the company earned $0.06 EPS. The firm’s revenue was up 272.3% compared to the same quarter last year. On average, equities analysts expect that Rayonier Inc. will post 0.42 earnings per share for the current year.

Rayonier Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Thursday, December 17th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend is Thursday, December 17th. Rayonier’s dividend payout ratio is 231.11%.

Insider Activity at Rayonier

In related news, EVP Mark Bridwell sold 5,318 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $20.19, for a total value of $107,370.42. Following the completion of the transaction, the executive vice president owned 131,661 shares in the company, valued at $2,658,235.59. The trade was a 3.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold 6,219 shares of company stock worth $124,088 over the last quarter. 0.84% of the stock is owned by corporate insiders.

Rayonier Profile

Rayonier Inc (NYSE:RYN) is a real estate investment trust that owns and manages timberlands and other rural land assets. The company’s primary business is the sustainable management of forest resources, with timber harvested and sold for use in lumber, paper, packaging, and other wood products.

Rayonier’s timber operations are located primarily in the U.S. South, the Pacific Northwest, and New Zealand. Its activities include forest management, timber sales, land conservation, and the sale of higher and better use properties, such as land suitable for residential, commercial, or industrial development.

In addition to its timber business, Rayonier generates value from real estate transactions, renewable energy opportunities, conservation initiatives, and other alternative uses of its land portfolio.