Horizon Kinetics Asset Management LLC Lowers Position in Rayonier Inc. (NYSE:RYN)

Horizon Kinetics Asset Management LLC decreased its holdings in shares of Rayonier Inc. (NYSE:RYN) by 28.8% in the 3rd quarter, according to its most recent Form 13F 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 quarter. Horizon Kinetics Asset Management LLC’s holdings in Rayonier were worth $1,952,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of RYN. Impax Asset Management Group plc increased its stake in Rayonier by 17.3% in the second quarter. Impax Asset Management Group plc now owns 6,815,188 shares of the real estate investment trust’s stock valued at $197,226,000 after acquiring an additional 1,004,357 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Rayonier by 26.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,352,691 shares of the real estate investment trust’s stock valued at $107,890,000 after buying an additional 695,810 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Rayonier by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,441,846 shares of the real estate investment trust’s stock valued at $78,579,000 after buying an additional 7,733 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Rayonier by 0.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,240,608 shares of the real estate investment trust’s stock worth $36,089,000 after buying an additional 10,536 shares during the last quarter. Finally, Global Alpha Capital Management Ltd. boosted its stake in Rayonier by 2.9% in the third quarter. Global Alpha Capital Management Ltd. now owns 1,034,127 shares of the real estate investment trust’s stock worth $33,278,000 after buying an additional 28,800 shares in the last quarter. 89.12% of the stock is currently owned by institutional investors.

Rayonier Price Performance

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

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

Rayonier Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 3.61%. The ex-dividend date is Tuesday, December 17th. Rayonier’s dividend payout ratio (DPR) is 107.55%.

Insider Transactions at Rayonier

In other Rayonier news, Director V. Larkin Martin sold 10,011 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was 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 represents a 19.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.83% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on RYN shares. StockNews.com raised shares of Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Truist Financial lifted their target price on shares of Rayonier from $31.00 to $32.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th.

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.