Firetrail Investments PTY Ltd. Sells 177,626 Shares of Rayonier Inc. $RYN

Firetrail Investments PTY Ltd. trimmed its holdings in shares of Rayonier Inc. (NYSE:RYN) by 42.6% in the second quarter, according to its most recent filing with the SEC. The firm owned 239,578 shares of the real estate investment trust’s stock after selling 177,626 shares during the period. Rayonier makes up about 1.4% of Firetrail Investments PTY Ltd.’s investment portfolio, making the stock its 26th biggest position. Firetrail Investments PTY Ltd. owned 0.15% of Rayonier worth $5,294,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Elequin Capital LP bought a new position in shares of Rayonier during the 1st quarter worth about $30,000. GKV Capital Management Co. Inc. bought a new position in Rayonier during the 1st quarter valued at about $32,000. IFP Advisors Inc lifted its holdings in Rayonier by 8,272.0% during the 2nd 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 during the last quarter. Headlands Technologies LLC lifted its holdings in Rayonier by 223.4% during the 1st 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 during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Rayonier by 54.6% during the 1st 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 during the last quarter. 89.12% of the stock is owned by institutional investors.

Rayonier Trading Down 2.1%

RYN opened at $22.07 on Friday. 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 stock has a market capitalization of $3.40 billion, a PE ratio of 4.46 and a beta of 0.99. Rayonier Inc. has a 1-year low of $21.84 and a 1-year high of $32.88. The firm has a 50-day moving average price of $25.58 and a two-hundred day moving average price of $24.53.

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

Rayonier Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th will be given a dividend of $0.2725 per share. The ex-dividend date is Wednesday, December 10th. This represents a $1.09 annualized dividend and a dividend yield of 4.9%. Rayonier’s payout ratio is currently 22.02%.

Analyst Upgrades and Downgrades

RYN has been the subject of several analyst reports. Wall Street Zen raised shares of Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Citigroup lifted their price target on shares of Rayonier from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Thursday, August 21st. Royal Bank Of Canada lifted their price target on shares of Rayonier from $26.00 to $27.00 and gave the company a “sector perform” rating in a report on Friday, August 8th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Rayonier in a report on Tuesday, October 14th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $28.00.

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.