Kestra Investment Management LLC Makes New $287,000 Investment in Rayonier Inc. (NYSE:RYN)

Kestra Investment Management LLC purchased a new stake in Rayonier Inc. (NYSE:RYN) in the third quarter, HoldingsChannel reports. The institutional investor purchased 8,914 shares of the real estate investment trust’s stock, valued at approximately $287,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of RYN. Boston Partners acquired a new stake in shares of Rayonier during the 1st quarter worth about $957,000. GAMMA Investing LLC boosted its stake in Rayonier by 53.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,079 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 376 shares during the period. SG Americas Securities LLC grew its holdings in Rayonier by 308.5% in the 2nd quarter. SG Americas Securities LLC now owns 31,717 shares of the real estate investment trust’s stock valued at $923,000 after buying an additional 23,953 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Rayonier by 20.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 11,347 shares of the real estate investment trust’s stock worth $330,000 after buying an additional 1,956 shares during the period. Finally, Accordant Advisory Group Inc acquired a new stake in shares of Rayonier during the second quarter worth $62,000. Institutional investors own 89.12% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, Director V. Larkin Martin sold 10,011 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $30.57, for a total transaction of $306,036.27. Following the completion of the transaction, the director now owns 40,168 shares of the company’s stock, valued at approximately $1,227,935.76. This trade represents a 19.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.83% of the stock is owned by corporate insiders.

Rayonier Stock Performance

NYSE:RYN opened at $31.49 on Tuesday. The firm has a market capitalization of $4.69 billion, a PE ratio of 29.70 and a beta of 1.02. 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 stock’s 50-day simple moving average is $31.38 and its 200 day simple moving average is $30.40. 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). The firm had revenue of $195.00 million for the quarter, compared to the consensus estimate of $211.21 million. Rayonier had a return on equity of 2.95% and a net margin of 15.84%. The company’s revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.13 EPS. On average, analysts anticipate that Rayonier Inc. will post 0.38 EPS for the current fiscal year.

Rayonier Increases Dividend

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

Rayonier declared that its Board of Directors has approved a stock buyback program on Monday, December 2nd that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to repurchase up to 6.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are 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.