Teacher Retirement System of Texas Sells 17,124 Shares of Rayonier Inc. $RYN

by · The Cerbat Gem

Teacher Retirement System of Texas reduced its stake in shares of Rayonier Inc. (NYSE:RYN – Free Report) by 25.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,203 shares of the real estate investment trust’s stock after selling 17,124 shares during the quarter. Teacher Retirement System of Texas’ holdings in Rayonier were worth $1,091,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Rayonier by 2.2% during the first quarter. Vanguard Group Inc. now owns 20,862,953 shares of the real estate investment trust’s stock valued at $581,659,000 after buying an additional 456,363 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Rayonier by 30.0% during the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,203,552 shares of the real estate investment trust’s stock valued at $117,195,000 after acquiring an additional 971,167 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Rayonier by 4.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,607,211 shares of the real estate investment trust’s stock valued at $72,689,000 after acquiring an additional 118,409 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Rayonier by 13.8% in the 1st quarter. Victory Capital Management Inc. now owns 2,515,298 shares of the real estate investment trust’s stock worth $70,127,000 after acquiring an additional 304,803 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Rayonier by 2.5% in the 1st quarter. Northern Trust Corp now owns 1,582,227 shares of the real estate investment trust’s stock worth $44,112,000 after acquiring an additional 38,704 shares during the period. 89.12% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Weiss Ratings restated a “hold (c-)” rating on shares of Rayonier in a research report on Wednesday. Citigroup boosted 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. Wall Street Zen raised shares of Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Royal Bank Of Canada lifted their target price on shares of Rayonier from $26.00 to $27.00 and gave the company a “sector perform” rating in a research report on Friday, August 8th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $28.00.

Get Our Latest Research Report on RYN

Rayonier Stock Up 1.8%

Shares of NYSE RYN opened at $22.48 on Friday. The stock has a market cap of $3.47 billion, a PE ratio of 4.54 and a beta of 0.98. The business has a fifty day moving average of $25.22 and a two-hundred day moving average of $24.44. Rayonier Inc. has a 52-week low of $21.23 and a 52-week high of $32.88. The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.38 and a current ratio of 3.50.

Rayonier (NYSE:RYN – Get Free Report) last posted its earnings results on Wednesday, November 5th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.09. Rayonier had a net margin of 68.53% and a return on equity of 3.39%. The business had revenue of $177.50 million for the quarter, compared to analyst estimates of $162.82 million. During the same quarter in the prior year, the firm earned $0.12 EPS. The firm’s quarterly revenue was up 43.0% compared to the same quarter last year. Rayonier has set its Q4 2025 guidance at 0.080-0.110 EPS. FY 2025 guidance at 0.410- EPS. As a group, equities research analysts expect that Rayonier Inc. will post 0.55 earnings per share for the current fiscal year.

Rayonier Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th will be issued a $0.2725 dividend. This represents a $1.09 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend is Wednesday, December 10th. Rayonier’s payout ratio is presently 22.02%.

About Rayonier

(Free Report)

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.

Further Reading