Massachusetts Financial Services Co. MA Acquires 695,810 Shares of Rayonier Inc. (NYSE:RYN)

Massachusetts Financial Services Co. MA boosted its holdings in Rayonier Inc. (NYSE:RYN) by 26.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,352,691 shares of the real estate investment trust’s stock after buying an additional 695,810 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 2.25% of Rayonier worth $107,890,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RYN. Advisors Asset Management Inc. acquired a new stake in shares of Rayonier in the 1st quarter valued at approximately $26,000. V Square Quantitative Management LLC acquired a new stake in Rayonier in the third quarter valued at approximately $25,000. GAMMA Investing LLC grew its stake in shares of Rayonier by 53.5% during the second quarter. GAMMA Investing LLC now owns 1,079 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 376 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in shares of Rayonier by 165.1% during the third quarter. Venturi Wealth Management LLC now owns 1,079 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 672 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Rayonier by 539.9% during the third quarter. Blue Trust Inc. now owns 1,235 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 1,042 shares in the last quarter. Institutional investors own 89.12% of the company’s stock.

Insider Transactions at Rayonier

In related news, Director V. Larkin Martin sold 10,011 shares of Rayonier 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 $1,227,935.76. This trade represents a 19.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.83% of the company’s stock.

Rayonier Price Performance

Shares of NYSE:RYN opened at $31.05 on Friday. The firm has a market cap of $4.63 billion, a PE ratio of 29.29 and a beta of 1.05. Rayonier Inc. has a 52 week low of $27.40 and a 52 week high of $35.29. The firm’s fifty day moving average is $31.38 and its 200-day moving average is $30.33. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.85 and a current ratio of 1.99.

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

Rayonier Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a dividend of $0.285 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.14 annualized dividend and a yield of 3.67%. Rayonier’s payout ratio is 107.55%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. StockNews.com upgraded Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Truist Financial boosted their price target on Rayonier from $31.00 to $32.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th.

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.