Sequoia Financial Advisors LLC Grows Stock Holdings in Rayonier Inc. $RYN

Sequoia Financial Advisors LLC raised its stake in Rayonier Inc. (NYSE:RYN) by 7.6% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 88,519 shares of the real estate investment trust’s stock after buying an additional 6,217 shares during the period. Sequoia Financial Advisors LLC’s holdings in Rayonier were worth $1,963,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Elequin Capital LP purchased a new stake in Rayonier in the 1st quarter valued at about $30,000. GKV Capital Management Co. Inc. purchased a new stake in shares of Rayonier in the 1st quarter worth approximately $32,000. Headlands Technologies LLC boosted its stake in shares of Rayonier by 223.4% during the first quarter. Headlands Technologies LLC now owns 2,076 shares of the real estate investment trust’s stock valued at $58,000 after purchasing an additional 1,434 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of Rayonier by 8,272.0% during the second quarter. IFP Advisors Inc now owns 2,093 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 2,068 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Rayonier by 54.6% during the first quarter. GAMMA Investing LLC now owns 2,680 shares of the real estate investment trust’s stock valued at $75,000 after purchasing an additional 947 shares in the last quarter. 89.12% of the stock is owned by hedge funds and other institutional investors.

Rayonier Trading Up 0.1%

NYSE RYN opened at $24.22 on Thursday. The company has a quick ratio of 3.38, a current ratio of 3.50 and a debt-to-equity ratio of 0.37. The firm has a market cap of $3.73 billion, a PE ratio of 4.89 and a beta of 0.99. The company has a 50 day moving average price of $26.22 and a 200 day moving average price of $24.67. Rayonier Inc. has a 52 week low of $21.84 and a 52 week high of $32.88.

Rayonier (NYSE:RYN) last posted its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.06 EPS for the quarter, topping the consensus estimate of $0.03 by $0.03. The firm had revenue of $106.50 million during the quarter, compared to analyst estimates of $95.30 million. Rayonier had a net margin of 68.53% and a return on equity of 3.39%. Rayonier’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.02 EPS. As a group, sell-side analysts forecast that Rayonier Inc. will post 0.55 EPS for the current fiscal year.

Rayonier Announces Dividend

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

Wall Street Analyst Weigh In

RYN has been the topic of a number of recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Rayonier in a research note on Tuesday. Citigroup increased their price objective on shares of Rayonier from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, August 21st. Wall Street Zen upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Royal Bank Of Canada increased their price objective on shares of Rayonier from $26.00 to $27.00 and gave the company a “sector perform” rating in a research note on Friday, August 8th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $28.00.

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.