Rayonier Inc. (RYN) Position Raised by Sei Investments Co.
Sei Investments Co. increased its position in shares of Rayonier Inc. (NYSE:RYN) by 418.0% during the first quarter, Holdings Channel reports. The firm owned 24,181 shares of the real estate investment trust’s stock after buying an additional 19,513 shares during the period. Sei Investments Co.’s holdings in Rayonier were worth $685,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the stock. Capital One National Association bought a new stake in shares of Rayonier during the first quarter worth approximately $369,000. Norges Bank bought a new stake in shares of Rayonier during the fourth quarter worth approximately $31,453,000. Cadence Capital Management LLC bought a new stake in shares of Rayonier during the fourth quarter worth approximately $280,000. Russell Investments Group Ltd. bought a new stake in shares of Rayonier during the fourth quarter worth approximately $900,000. Finally, Louisiana State Employees Retirement System boosted its stake in shares of Rayonier by 2.3% in the first quarter. Louisiana State Employees Retirement System now owns 31,000 shares of the real estate investment trust’s stock worth $879,000 after buying an additional 700 shares during the period. Hedge funds and other institutional investors own 82.62% of the company’s stock.
Shares of Rayonier Inc. (NYSE:RYN) opened at 28.93 on Wednesday. Rayonier Inc. has a 12-month low of $24.47 and a 12-month high of $29.86. The firm has a market cap of $3.58 billion, a PE ratio of 15.40 and a beta of 0.39. The stock’s 50 day moving average price is $28.18 and its 200 day moving average price is $28.11.
Rayonier (NYSE:RYN) last posted its quarterly earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by $0.05. The company had revenue of $186.50 million during the quarter, compared to the consensus estimate of $159.31 million. Rayonier had a net margin of 27.54% and a return on equity of 4.10%. Rayonier’s quarterly revenue was up 38.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.11 EPS. On average, equities research analysts predict that Rayonier Inc. will post $0.38 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 16th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $1.00 annualized dividend and a dividend yield of 3.46%. Rayonier’s dividend payout ratio is currently 53.48%.
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A number of equities research analysts have commented on RYN shares. Zacks Investment Research cut Rayonier from a “buy” rating to a “hold” rating in a report on Monday, May 8th. BMO Capital Markets reiterated a “buy” rating and set a $31.00 target price on shares of Rayonier in a report on Thursday, March 16th. Finally, Vertical Research upgraded Rayonier to a “buy” rating in a report on Sunday, May 28th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Rayonier has a consensus rating of “Buy” and an average price target of $29.80.
In related news, Director Andrew G. Wiltshire purchased 6,650 shares of the company’s stock in a transaction on Wednesday, May 10th. The shares were bought at an average price of $27.87 per share, with a total value of $185,335.50. Following the completion of the acquisition, the director now owns 26,006 shares of the company’s stock, valued at $724,787.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.61% of the stock is currently owned by corporate insiders.
Rayonier Company Profile
Rayonier Inc is a timberland real estate investment trust with assets located in some of the 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. The 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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