Mutual of America Capital Management LLC trimmed its stake in shares of Rayonier Inc. (NYSE:RYN – Free Report) by 1.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,476 shares of the real estate investment trust’s stock after selling 1,792 shares during the quarter. Mutual of America Capital Management LLC owned 0.08% of Rayonier worth $3,941,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of RYN. Jump Financial LLC acquired a new position in shares of Rayonier during the 1st quarter worth about $244,000. Granite Investment Partners LLC acquired a new position in shares of Rayonier during the 1st quarter worth about $2,790,000. New Mexico Educational Retirement Board boosted its position in shares of Rayonier by 15.2% during the 1st quarter. New Mexico Educational Retirement Board now owns 26,500 shares of the real estate investment trust’s stock worth $881,000 after acquiring an additional 3,500 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Rayonier by 7.4% in the 1st quarter. Victory Capital Management Inc. now owns 3,640,578 shares of the real estate investment trust’s stock valued at $121,086,000 after purchasing an additional 250,058 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Rayonier by 4.1% in the 1st quarter. Nisa Investment Advisors LLC now owns 99,365 shares of the real estate investment trust’s stock valued at $3,305,000 after purchasing an additional 3,940 shares during the last quarter. 81.93% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on RYN shares. TheStreet downgraded Rayonier from a “b-” rating to a “c+” rating in a report on Thursday, May 11th. 51job reissued a “reiterates” rating on shares of Rayonier in a report on Wednesday, June 28th. Truist Financial started coverage on Rayonier in a report on Monday, May 15th. They issued a “hold” rating and a $33.00 target price for the company. Finally, StockNews.com downgraded Rayonier from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. One research analyst has rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to MarketBeat, Rayonier presently has an average rating of “Hold” and an average target price of $34.50.
Rayonier Stock Down 1.2 %
Rayonier (NYSE:RYN – Get Free Report) last posted its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.05 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.04). The company had revenue of $208.90 million for the quarter, compared to analysts’ expectations of $210.18 million. Rayonier had a net margin of 9.77% and a return on equity of 2.55%. The firm’s revenue was down 15.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.16 earnings per share. As a group, research analysts anticipate that Rayonier Inc. will post 0.36 EPS for the current year.
Rayonier Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend is Thursday, September 14th. Rayonier’s dividend payout ratio is presently 207.27%.
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 March 31, 2023, Rayonier owned or leased under long-term agreements approximately 2.8 million acres of timberlands located in the U.S.
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