Rayonier Inc. $RYN Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC decreased its position in Rayonier Inc. (NYSE:RYN) by 46.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,058 shares of the real estate investment trust’s stock after selling 30,189 shares during the period. Nisa Investment Advisors LLC’s holdings in Rayonier were worth $644,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Corient Private Wealth LP raised its holdings in Rayonier by 731.4% during the 2nd quarter. Corient Private Wealth LP now owns 94,839 shares of the real estate investment trust’s stock worth $2,018,000 after purchasing an additional 83,432 shares during the last quarter. Bank of America Corp DE lifted its position in Rayonier by 141.8% during the 1st quarter. Bank of America Corp DE now owns 1,620,769 shares of the real estate investment trust’s stock valued at $33,420,000 after purchasing an additional 950,473 shares during the period. World Investment Advisors bought a new position in shares of Rayonier in the 1st quarter valued at about $6,980,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Rayonier by 5.9% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,358,814 shares of the real estate investment trust’s stock valued at $28,916,000 after purchasing an additional 76,021 shares during the last quarter. Finally, BlackRock Inc. bought a new position in shares of Rayonier in the 2nd quarter valued at about $617,451,000. Institutional investors own 89.12% of the company’s stock.

Insider Activity at Rayonier

In related news, EVP Mark Bridwell sold 5,318 shares of Rayonier stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $20.19, for a total transaction of $107,370.42. Following the transaction, the executive vice president owned 131,661 shares of the company’s stock, valued at $2,658,235.59. This trade represents a 3.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders sold 6,219 shares of company stock valued at $124,088. Corporate insiders own 0.84% of the company’s stock.

Rayonier Trading Up 1.4%

NYSE RYN opened at $19.22 on Wednesday. Rayonier Inc. has a 12 month low of $17.71 and a 12 month high of $24.82. The stock has a 50-day simple moving average of $19.62 and a 200 day simple moving average of $21.04. The company has a market capitalization of $5.72 billion, a PE ratio of 42.71 and a beta of 0.89.

Rayonier (NYSE:RYN) last issued its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.10. The company had revenue of $396.51 million for the quarter, compared to the consensus estimate of $374.28 million. During the same quarter last year, the business posted $0.06 EPS. Rayonier’s quarterly revenue was up 272.3% on a year-over-year basis. As a group, sell-side analysts predict that Rayonier Inc. will post 0.42 earnings per share for the current fiscal year.

Rayonier Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Thursday, December 17th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Thursday, December 17th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 5.4%. Rayonier’s dividend payout ratio is 231.11%.

Wall Street Analysts Forecast Growth

RYN has been the subject of several analyst reports. Seaport Research Partners reiterated a “buy” rating and set a $30.00 price target on shares of Rayonier in a research report on Thursday, October 8th. Weiss Ratings upgraded shares of Rayonier from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, August 21st. Citigroup cut their price objective on shares of Rayonier from $23.00 to $19.00 and set a “neutral” rating on the stock in a report on Monday, October 5th. Royal Bank Of Canada reduced their price objective on shares of Rayonier from $24.00 to $20.00 and set a “sector perform” rating on the stock in a research note on Friday, October 16th. Finally, Truist Financial lowered their target price on shares of Rayonier from $24.00 to $22.00 and set a “hold” rating for the company in a report on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Rayonier has an average rating of “Hold” and a consensus price target of $22.80.

About Rayonier

Rayonier Inc (NYSE:RYN) is a real estate investment trust that owns and manages timberlands and other rural land assets. The company’s primary business is the sustainable management of forest resources, with timber harvested and sold for use in lumber, paper, packaging, and other wood products.

Rayonier’s timber operations are located primarily in the U.S. South, the Pacific Northwest, and New Zealand. Its activities include forest management, timber sales, land conservation, and the sale of higher and better use properties, such as land suitable for residential, commercial, or industrial development.

In addition to its timber business, Rayonier generates value from real estate transactions, renewable energy opportunities, conservation initiatives, and other alternative uses of its land portfolio.