Rayonier Inc. (NYSE:RYN) Shares Sold by Baker Ellis Asset Management LLC

Baker Ellis Asset Management LLC decreased its holdings in shares of Rayonier Inc. (NYSE:RYN) by 3.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,925 shares of the real estate investment trust’s stock after selling 600 shares during the quarter. Baker Ellis Asset Management LLC’s holdings in Rayonier were worth $390,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in RYN. V Square Quantitative Management LLC purchased a new stake in shares of Rayonier during the third quarter worth about $25,000. Venturi Wealth Management LLC increased 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 buying an additional 672 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Rayonier by 539.9% in the third quarter. Blue Trust Inc. now owns 1,235 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 1,042 shares in the last quarter. UMB Bank n.a. grew its position in Rayonier by 59.7% during the 4th quarter. UMB Bank n.a. now owns 1,404 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 525 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Rayonier by 41.8% during the 4th quarter. GAMMA Investing LLC now owns 1,733 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 511 shares in the last quarter. Institutional investors and hedge funds own 89.12% of the company’s stock.

Rayonier Trading Up 0.4 %

RYN opened at $26.30 on Friday. The stock has a market capitalization of $3.92 billion, a P/E ratio of 24.81 and a beta of 1.04. Rayonier Inc. has a 12 month low of $24.88 and a 12 month high of $35.29. The firm’s fifty day simple moving average is $28.21 and its 200 day simple moving average is $29.80. The company has a current ratio of 1.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.71.

Rayonier (NYSE:RYN) last issued its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.12 earnings per share (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 business had revenue of $195.00 million during the quarter, compared to analyst estimates of $211.21 million. During the same quarter in the previous year, the firm posted $0.13 earnings per share. The firm’s quarterly revenue was down 3.3% on a year-over-year basis. As a group, research analysts anticipate that Rayonier Inc. will post 0.38 EPS for the current fiscal year.

Rayonier Increases Dividend

The business also recently declared a special dividend, which will be paid on Thursday, January 30th. Investors of record on Thursday, December 12th will be paid a $1.80 dividend. This is a positive change from Rayonier’s previous special dividend of $0.20. Rayonier’s dividend payout ratio is 107.55%.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Truist Financial cut their target price on shares of Rayonier from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Monday, January 6th. StockNews.com raised shares of Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Finally, Citigroup lowered their target price on shares of Rayonier from $32.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Four research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Rayonier currently has an average rating of “Hold” and an average target price of $29.67.

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.