Assenagon Asset Management S.A. Sells 492 Shares of Rayonier Inc. (NYSE:RYN)

Assenagon Asset Management S.A. trimmed its stake in shares of Rayonier Inc. (NYSE:RYN) by 5.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,391 shares of the real estate investment trust’s stock after selling 492 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Rayonier were worth $312,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Louisiana State Employees Retirement System grew its position in Rayonier by 2.6% during the 1st quarter. Louisiana State Employees Retirement System now owns 39,300 shares of the real estate investment trust’s stock worth $1,306,000 after acquiring an additional 1,000 shares during the last quarter. State of Alaska Department of Revenue grew its position in Rayonier by 0.5% during the 1st quarter. State of Alaska Department of Revenue now owns 84,739 shares of the real estate investment trust’s stock worth $2,815,000 after acquiring an additional 439 shares during the last quarter. State of Michigan Retirement System grew its position in Rayonier by 2.4% during the 1st quarter. State of Michigan Retirement System now owns 33,493 shares of the real estate investment trust’s stock worth $1,113,000 after acquiring an additional 800 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Rayonier by 525.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,551 shares of the real estate investment trust’s stock worth $85,000 after acquiring an additional 2,143 shares during the last quarter. Finally, Financial Management Professionals Inc. grew its position in Rayonier by 18.7% during the 1st quarter. Financial Management Professionals Inc. now owns 3,808 shares of the real estate investment trust’s stock worth $127,000 after acquiring an additional 600 shares during the last quarter. 89.12% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. TheStreet upgraded Rayonier from a “c+” rating to a “b-” rating in a report on Friday, February 16th. StockNews.com cut Rayonier from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Finally, Royal Bank of Canada increased their price objective on Rayonier from $34.00 to $35.00 and gave the stock a “sector perform” rating in a report on Friday, February 2nd. Three equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $34.50.

Rayonier Stock Down 1.8 %

Shares of RYN traded down $0.54 on Thursday, reaching $29.34. The stock had a trading volume of 347,134 shares, compared to its average volume of 571,958. The firm has a market capitalization of $4.37 billion, a price-to-earnings ratio of 26.68 and a beta of 1.09. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.08 and a current ratio of 2.46. The company has a 50-day simple moving average of $31.20 and a 200-day simple moving average of $31.87. Rayonier Inc. has a 12-month low of $24.84 and a 12-month high of $35.29.

Rayonier (NYSE:RYN) last released its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $168.10 million during the quarter, compared to analysts’ expectations of $190.04 million. Rayonier had a return on equity of 3.21% and a net margin of 15.92%. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.01 EPS. Sell-side analysts predict that Rayonier Inc. will post 0.47 EPS for the current year.

Rayonier Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date of this dividend is Friday, June 14th. Rayonier’s payout ratio 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.