Vanguard Group Inc. Boosts Position in Rayonier Inc. (RYN)
Vanguard Group Inc. raised its stake in shares of Rayonier Inc. (NYSE:RYN) by 3.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,041,701 shares of the real estate investment trust’s stock after buying an additional 318,763 shares during the period. Vanguard Group Inc. owned approximately 7.38% of Rayonier worth $237,254,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in RYN. Integrated Investment Consultants LLC acquired a new stake in Rayonier during the second quarter valued at approximately $100,000. LS Investment Advisors LLC raised its stake in Rayonier by 72.1% in the second quarter. LS Investment Advisors LLC now owns 7,345 shares of the real estate investment trust’s stock valued at $193,000 after buying an additional 3,077 shares during the last quarter. Boston Private Wealth LLC acquired a new stake in Rayonier during the second quarter valued at approximately $202,000. Hancock Holding Co. acquired a new stake in Rayonier during the second quarter valued at approximately $215,000. Finally, Weatherly Asset Management L. P. raised its stake in Rayonier by 45.2% in the second quarter. Weatherly Asset Management L. P. now owns 13,286 shares of the real estate investment trust’s stock valued at $237,000 after buying an additional 4,133 shares during the last quarter. 84.91% of the stock is owned by hedge funds and other institutional investors.
Shares of Rayonier Inc. (NYSE:RYN) opened at 25.58 on Friday. The stock has a market capitalization of $3.14 billion, a price-to-earnings ratio of 20.51 and a beta of 0.55. The company has a 50-day moving average of $26.60 and a 200 day moving average of $26.03. Rayonier Inc. has a 12-month low of $17.85 and a 12-month high of $28.16.
Rayonier (NYSE:RYN) last posted its earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.04. Rayonier had a return on equity of 4.06% and a net margin of 22.52%. The company had revenue of $132.10 million for the quarter, compared to analyst estimates of $116.36 million. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. Analysts predict that Rayonier Inc. will post $0.38 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.91%. The ex-dividend date was Wednesday, September 14th. Rayonier’s dividend payout ratio is presently 80.00%.
Several equities research analysts have recently commented on RYN shares. Zacks Investment Research raised shares of Rayonier from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Monday, August 8th. TheStreet raised shares of Rayonier from a “hold” rating to a “buy” rating in a research report on Thursday, August 4th. Finally, Buckingham Research lowered shares of Rayonier from a “buy” rating to a “neutral” rating and set a $29.00 price target for the company. in a research report on Wednesday, September 7th. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Rayonier has a consensus rating of “Buy” and a consensus target price of $26.75.
In other Rayonier news, Director Andrew G. Wiltshire purchased 4,000 shares of the stock in a transaction on Wednesday, September 14th. The stock was acquired at an average price of $25.77 per share, with a total value of $103,080.00. Following the completion of the acquisition, the director now owns 11,356 shares in the company, valued at $292,644.12. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, VP Shelby L. Pyatt sold 1,500 shares of the firm’s stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $26.97, for a total value of $40,455.00. Following the completion of the sale, the vice president now directly owns 6,170 shares of the company’s stock, valued at approximately $166,404.90. The disclosure for this sale can be found here. 0.58% of the stock is owned by company insiders.
Rayonier Inc is a timberland real estate investment trust (REIT) with assets located in timber growing regions in the United States and New Zealand. The Company operates through five segments: Southern Timber, Pacific Northwest Timber, New Zealand Timber, Real Estate and Trading. Its Southern Timber, Pacific Northwest Timber and New Zealand Timber segments reflect all activities related to the harvesting of timber and other activities, such as recreational leases, within each respective geography.
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