Sequoia Financial Advisors LLC Buys 6,217 Shares of Rayonier Inc. $RYN

Sequoia Financial Advisors LLC raised its stake in Rayonier Inc. (NYSE:RYN) by 7.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 88,519 shares of the real estate investment trust’s stock after acquiring an additional 6,217 shares during the period. Sequoia Financial Advisors LLC owned approximately 0.06% of Rayonier worth $1,963,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. increased its holdings in Rayonier by 5.0% in the 1st quarter. Principal Financial Group Inc. now owns 323,985 shares of the real estate investment trust’s stock valued at $9,033,000 after acquiring an additional 15,382 shares during the last quarter. GAMMA Investing LLC increased its holdings in Rayonier by 54.6% in the 1st quarter. GAMMA Investing LLC now owns 2,680 shares of the real estate investment trust’s stock valued at $75,000 after acquiring an additional 947 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Rayonier in the 1st quarter valued at $1,017,000. New York State Teachers Retirement System increased its holdings in Rayonier by 5.4% in the 1st quarter. New York State Teachers Retirement System now owns 166,119 shares of the real estate investment trust’s stock valued at $4,631,000 after acquiring an additional 8,565 shares during the last quarter. Finally, Mutual of America Capital Management LLC increased its holdings in Rayonier by 2.1% in the 1st quarter. Mutual of America Capital Management LLC now owns 72,324 shares of the real estate investment trust’s stock valued at $2,016,000 after acquiring an additional 1,487 shares during the last quarter. 89.12% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on RYN shares. Royal Bank Of Canada lifted their price objective on shares of Rayonier from $26.00 to $27.00 and gave the stock a “sector perform” rating in a research note on Friday, August 8th. Wall Street Zen raised shares of Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Rayonier in a research note on Tuesday. Finally, Citigroup lifted their price objective on shares of Rayonier from $26.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, August 21st. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Rayonier presently has an average rating of “Hold” and a consensus price target of $28.00.

Rayonier Price Performance

RYN stock opened at $24.22 on Thursday. Rayonier Inc. has a 12 month low of $21.84 and a 12 month high of $32.88. The company has a current ratio of 3.50, a quick ratio of 3.38 and a debt-to-equity ratio of 0.37. The company has a 50-day moving average price of $26.22 and a 200 day moving average price of $24.67. The stock has a market cap of $3.73 billion, a PE ratio of 4.89 and a beta of 0.99.

Rayonier (NYSE:RYN) last released its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. Rayonier had a net margin of 68.53% and a return on equity of 3.39%. The firm had revenue of $106.50 million during the quarter, compared to analysts’ expectations of $95.30 million. During the same period in the previous year, the company earned $0.02 EPS. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. Equities research analysts anticipate that Rayonier Inc. will post 0.55 earnings per share for the current year.

Rayonier Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, October 24th will be given a $1.40 dividend. The ex-dividend date of this dividend is Friday, October 24th. Rayonier’s payout ratio is 22.02%.

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.