SCHEDULE: T. Rowe Price Boosts Rayonier Stake to 6.7%

T. Rowe Price Associates, Inc. has disclosed an increased passive stake of 6.7% in Rayonier Inc., holding over 10 million shares as of September 30, 2025.

Summary

• T. Rowe Price Associates, Inc. reported beneficial ownership of 10,283,224 shares of Rayonier Inc. REIT common stock.
• This ownership represents 6.7% of the class of securities.
• The filing is an Amendment No. 14 to a Schedule 13G, indicating a change from a previous filing.
• T. Rowe Price Associates, Inc. holds sole voting power over 10,206,435 shares and sole dispositive power over 10,278,781 shares.
• The securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of Rayonier Inc.

Sentiment

Score: 5

Explanation: Neutral. This is a factual disclosure of beneficial ownership by an institutional investor, not an operational or financial report from the company itself. It indicates a significant, passive investment.

Positives

• Increased institutional ownership by a major investment adviser like T. Rowe Price could be interpreted as a vote of confidence in Rayonier Inc.'s long-term prospects.
• The passive nature of the investment indicates T. Rowe Price is not seeking to influence management or control, suggesting a long-term investment horizon.

Negatives

• No specific negative information is contained within this beneficial ownership report.

Risks

• No specific risks related to Rayonier Inc.'s operations or financial health are disclosed in this filing, as it pertains solely to T. Rowe Price's ownership.

Future Outlook

NA

Management Comments

• T. Rowe Price Associates, Inc. declares and affirms that the filing of Schedule 13G shall not be construed as an admission that Price Associates is the beneficial owner of the securities referred to, which beneficial ownership is expressly denied.
• The securities were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities.

Industry Context

This filing reflects a major institutional investor's position in a Real Estate Investment Trust (REIT) focused on timberland. Such disclosures are common for large asset managers and provide transparency into significant holdings within various sectors, including the REIT market.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional holder's stake, which can influence market perception and liquidity.
• Management: Awareness of a large, passive institutional investor on their shareholder register.

Key Dates

Keywords

Rayonier Inc., RYN, T. Rowe Price, Schedule 13G, beneficial ownership, institutional investor, REIT, investment adviser, passive stake