Tidal Investments LLC Trims Holdings in Rayonier Inc. (NYSE:RYN)

Tidal Investments LLC reduced its stake in shares of Rayonier Inc. (NYSE:RYN) by 1.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 82,803 shares of the real estate investment trust’s stock after selling 1,296 shares during the quarter. Tidal Investments LLC’s holdings in Rayonier were worth $2,665,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new stake in Rayonier in the 3rd quarter valued at about $25,000. Venturi Wealth Management LLC boosted its holdings in shares of Rayonier by 165.1% in the third quarter. Venturi Wealth Management LLC now owns 1,079 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 672 shares during the period. Quest Partners LLC bought a new position in Rayonier in the second quarter worth approximately $40,000. Blue Trust Inc. increased its holdings in Rayonier by 539.9% during the 3rd quarter. Blue Trust Inc. now owns 1,235 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 1,042 shares during the period. Finally, Fifth Third Bancorp raised its position in Rayonier by 83.7% during the 2nd quarter. Fifth Third Bancorp now owns 1,449 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 660 shares in the last quarter. 89.12% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RYN has been the topic of a number of recent research reports. StockNews.com raised Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Truist Financial increased their target price on shares of Rayonier from $31.00 to $32.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th.

Rayonier Stock Down 0.1 %

Rayonier stock opened at $28.83 on Monday. The company has a quick ratio of 1.85, a current ratio of 1.99 and a debt-to-equity ratio of 0.71. The firm has a market cap of $4.30 billion, a P/E ratio of 27.20 and a beta of 1.02. The business has a fifty day moving average of $31.17 and a two-hundred day moving average of $30.48. Rayonier Inc. has a twelve month low of $27.40 and a twelve month high of $35.29.

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

Rayonier Increases Dividend

The company also recently disclosed a special dividend, which will be paid on Thursday, January 30th. Stockholders of record on Thursday, December 12th will be given a $1.80 dividend. This is an increase from Rayonier’s previous special dividend of $0.20. Rayonier’s payout ratio is presently 107.55%.

Rayonier announced that its board has approved 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 reacquire up to 6.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

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.