Confluence Investment Management LLC Acquires Shares of 2,317,310 Rayonier Inc. (NYSE:RYN)

Confluence Investment Management LLC bought a new stake in Rayonier Inc. (NYSE:RYN) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,317,310 shares of the real estate investment trust’s stock, valued at approximately $77,027,000. Confluence Investment Management LLC owned 1.56% of Rayonier as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. M&T Bank Corp increased its stake in Rayonier by 4.4% during the 4th quarter. M&T Bank Corp now owns 8,102 shares of the real estate investment trust’s stock worth $271,000 after buying an additional 344 shares in the last quarter. Leavell Investment Management Inc. boosted its stake in Rayonier by 1.0% during the 4th quarter. Leavell Investment Management Inc. now owns 38,352 shares of the real estate investment trust’s stock worth $1,289,000 after purchasing an additional 363 shares during the last quarter. Retirement Systems of Alabama grew its holdings in shares of Rayonier by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 170,870 shares of the real estate investment trust’s stock worth $5,709,000 after buying an additional 550 shares in the last quarter. Bollard Group LLC raised its position in shares of Rayonier by 0.9% in the fourth quarter. Bollard Group LLC now owns 68,880 shares of the real estate investment trust’s stock valued at $2,301,000 after buying an additional 583 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its stake in shares of Rayonier by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 65,100 shares of the real estate investment trust’s stock worth $2,175,000 after buying an additional 640 shares in the last quarter. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on RYN shares. StockNews.com lowered Rayonier from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Royal Bank of Canada reiterated a “sector perform” rating and set a $34.00 price target on shares of Rayonier in a report on Friday. Three equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $34.00.

Rayonier Trading Up 0.0 %

Shares of RYN stock traded up $0.01 during trading hours on Tuesday, hitting $30.01. The company had a trading volume of 103,557 shares, compared to its average volume of 550,732. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.46 and a quick ratio of 2.08. The stock has a market capitalization of $4.47 billion, a PE ratio of 26.81 and a beta of 1.07. The company’s fifty day moving average is $30.15 and its 200 day moving average is $31.85. Rayonier Inc. has a fifty-two week low of $24.84 and a fifty-two week high of $35.29.

Rayonier (NYSE:RYN) last announced its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. Rayonier had a net margin of 15.92% and a return on equity of 3.21%. The firm had revenue of $168.10 million during the quarter, compared to analysts’ expectations of $190.04 million. During the same quarter in the previous year, the business posted $0.01 earnings per share. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. Research analysts expect that Rayonier Inc. will post 0.46 earnings per share for the current fiscal year.

Rayonier Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.285 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.14 dividend on an annualized basis and a yield of 3.80%. Rayonier’s dividend payout ratio (DPR) is presently 101.79%.

About Rayonier

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.