Horizon Kinetics Asset Management LLC Sells 24,522 Shares of Rayonier Inc. (NYSE:RYN)

Horizon Kinetics Asset Management LLC decreased its stake in shares of Rayonier Inc. (NYSE:RYN) by 28.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,644 shares of the real estate investment trust’s stock after selling 24,522 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Rayonier were worth $1,952,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Advisors Asset Management Inc. bought a new stake in shares of Rayonier during the first quarter valued at approximately $26,000. Quadrature Capital Ltd purchased a new stake in shares of Rayonier in the 1st quarter worth about $320,000. Bayesian Capital Management LP bought a new position in shares of Rayonier in the 1st quarter worth about $262,000. Tidal Investments LLC increased its stake in shares of Rayonier by 18.7% in the 1st quarter. Tidal Investments LLC now owns 65,094 shares of the real estate investment trust’s stock worth $2,164,000 after acquiring an additional 10,251 shares in the last quarter. Finally, Walleye Trading LLC purchased a new position in Rayonier during the 1st quarter valued at about $1,203,000. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Rayonier Stock Performance

Shares of Rayonier stock opened at $31.62 on Tuesday. Rayonier Inc. has a 1 year low of $27.40 and a 1 year high of $35.29. The firm’s 50-day moving average is $31.38 and its 200 day moving average is $30.35. The stock has a market cap of $4.71 billion, a price-to-earnings ratio of 29.83 and a beta of 1.05. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.99 and a quick ratio of 1.85.

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

Rayonier Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend is Tuesday, December 17th. Rayonier’s dividend payout ratio is currently 107.55%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RYN. StockNews.com upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Truist Financial upped their price target on Rayonier from $31.00 to $32.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th.

Insider Activity

In related news, Director V. Larkin Martin sold 10,011 shares of Rayonier stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $30.57, for a total value of $306,036.27. Following the completion of the sale, the director now directly owns 40,168 shares in the company, valued at approximately $1,227,935.76. This trade represents a 19.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.83% of the company’s stock.

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.