Baker Ellis Asset Management LLC Sells 600 Shares of Rayonier Inc. (NYSE:RYN)

Baker Ellis Asset Management LLC trimmed its holdings in Rayonier Inc. (NYSE:RYN) by 3.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,925 shares of the real estate investment trust’s stock after selling 600 shares during the period. Baker Ellis Asset Management LLC’s holdings in Rayonier were worth $390,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new position in shares of Rayonier during the third quarter valued at about $25,000. Venturi Wealth Management LLC increased its stake in shares of Rayonier by 165.1% in the third quarter. Venturi Wealth Management LLC now owns 1,079 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 672 shares in the last quarter. UMB Bank n.a. increased its stake in shares of Rayonier by 59.7% in the fourth quarter. UMB Bank n.a. now owns 1,404 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 525 shares in the last quarter. Blue Trust Inc. grew its stake in Rayonier by 539.9% during the third quarter. Blue Trust Inc. now owns 1,235 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 1,042 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Rayonier by 41.8% during the fourth quarter. GAMMA Investing LLC now owns 1,733 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 511 shares in the last quarter. 89.12% of the stock is owned by institutional investors.

Rayonier Stock Performance

Shares of Rayonier stock opened at $26.30 on Friday. The stock has a market cap of $3.92 billion, a price-to-earnings ratio of 24.81 and a beta of 1.04. The firm’s 50-day moving average is $28.21 and its 200 day moving average is $29.80. Rayonier Inc. has a 1 year low of $24.88 and a 1 year high of $35.29. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.99 and a quick ratio of 1.85.

Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The firm had revenue of $195.00 million during the quarter, compared to the consensus estimate of $211.21 million. Rayonier had a return on equity of 2.95% and a net margin of 15.84%. The business’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.13 EPS. Sell-side analysts anticipate that Rayonier Inc. will post 0.38 EPS for the current fiscal year.

Rayonier Increases Dividend

The business also recently announced a special dividend, which will be paid on Thursday, January 30th. Shareholders of record on Thursday, December 12th will be paid a dividend of $1.80 per share. This is a boost from Rayonier’s previous special dividend of $0.20. Rayonier’s dividend payout ratio is currently 107.55%.

Rayonier declared that its board has initiated a stock buyback plan on Monday, December 2nd that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to reacquire up to 6.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages have issued reports on RYN. StockNews.com upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Citigroup decreased their target price on shares of Rayonier from $32.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Finally, Truist Financial decreased their target price on shares of Rayonier from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Monday, January 6th. Four research analysts have rated the stock with a hold rating, According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $29.67.

About Rayonier

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.