Firetrail Investments PTY Ltd. Buys 1,681 Shares of Rayonier Inc. (NYSE:RYN)

Firetrail Investments PTY Ltd. boosted its stake in shares of Rayonier Inc. (NYSE:RYN) by 0.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 246,287 shares of the real estate investment trust’s stock after purchasing an additional 1,681 shares during the quarter. Rayonier comprises 2.3% of Firetrail Investments PTY Ltd.’s portfolio, making the stock its 25th largest holding. Firetrail Investments PTY Ltd. owned approximately 0.17% of Rayonier worth $7,918,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Rayonier by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 20,802,946 shares of the real estate investment trust’s stock worth $691,490,000 after purchasing an additional 67,646 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Rayonier by 1.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,294,936 shares of the real estate investment trust’s stock worth $541,645,000 after buying an additional 196,571 shares during the period. Impax Asset Management Group plc lifted its holdings in shares of Rayonier by 17.3% during the second quarter. Impax Asset Management Group plc now owns 6,815,188 shares of the real estate investment trust’s stock worth $197,226,000 after buying an additional 1,004,357 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Rayonier by 0.9% in the second quarter. Bank of New York Mellon Corp now owns 1,240,608 shares of the real estate investment trust’s stock valued at $36,089,000 after acquiring an additional 10,536 shares during the period. Finally, Millennium Management LLC grew its stake in shares of Rayonier by 56.7% in the second quarter. Millennium Management LLC now owns 752,847 shares of the real estate investment trust’s stock worth $21,900,000 after acquiring an additional 272,349 shares during the last quarter. Institutional investors and hedge funds own 89.12% of the company’s stock.

Rayonier Stock Performance

RYN opened at $30.10 on Thursday. The stock’s 50 day simple moving average is $31.49 and its 200-day simple moving average is $30.31. The company has a current ratio of 1.99, a quick ratio of 1.78 and a debt-to-equity ratio of 0.71. The stock has a market cap of $4.48 billion, a PE ratio of 28.40 and a beta of 1.05. Rayonier Inc. has a 1 year low of $27.40 and a 1 year high of $35.29.

Rayonier (NYSE:RYN) last posted its quarterly earnings results 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 business had revenue of $195.00 million for the quarter, compared to analyst estimates of $211.21 million. During the same quarter in the prior year, the firm earned $0.13 EPS. The firm’s quarterly revenue was down 3.3% on a year-over-year basis. Sell-side analysts forecast that Rayonier Inc. will post 0.38 EPS for the current year.

Rayonier Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be given a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend is Tuesday, December 17th. Rayonier’s dividend payout ratio (DPR) is presently 107.55%.

Insiders Place Their Bets

In other news, Director V. Larkin Martin sold 10,011 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $30.57, for a total value of $306,036.27. Following the sale, the director now directly owns 40,168 shares in the company, valued at approximately $1,227,935.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on RYN shares. StockNews.com cut shares of Rayonier from a “hold” rating to a “sell” rating in a research note on Friday, November 8th. Truist Financial boosted their price objective 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 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.