Teachers Advisors LLC Sells 4,188 Shares of Rayonier Inc. (NYSE:RYN)
Teachers Advisors LLC lowered its stake in Rayonier Inc. (NYSE:RYN) by 2.6% during the first quarter, Holdings Channel reports. The firm owned 154,357 shares of the real estate investment trust’s stock after selling 4,188 shares during the period. Teachers Advisors LLC’s holdings in Rayonier were worth $4,374,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in RYN. IFP Advisors Inc increased its stake in shares of Rayonier by 1.8% in the first quarter. IFP Advisors Inc now owns 3,881 shares of the real estate investment trust’s stock valued at $110,000 after buying an additional 67 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Rayonier by 9.1% in the first quarter. Envestnet Asset Management Inc. now owns 6,256 shares of the real estate investment trust’s stock valued at $177,000 after buying an additional 523 shares during the period. Washington Trust Bank increased its stake in shares of Rayonier by 2,490.8% in the first quarter. Washington Trust Bank now owns 7,021 shares of the real estate investment trust’s stock valued at $199,000 after buying an additional 6,750 shares during the period. Foster Dykema Cabot & Co. Inc. MA bought a new stake in shares of Rayonier during the first quarter valued at about $204,000. Finally, World Asset Management Inc bought a new stake in shares of Rayonier during the first quarter valued at about $214,000. Institutional investors and hedge funds own 82.59% of the company’s stock.
Rayonier Inc. (RYN) opened at 29.25 on Monday. Rayonier Inc. has a 52 week low of $25.24 and a 52 week high of $29.86. The firm has a 50-day moving average price of $28.86 and a 200-day moving average price of $28.44. The company has a market cap of $3.76 billion, a P/E ratio of 24.64 and a beta of 0.35.
Rayonier (NYSE:RYN) last posted its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.09. Rayonier had a return on equity of 5.03% and a net margin of 19.10%. The firm had revenue of $194.70 million during the quarter, compared to analysts’ expectations of $151.50 million. During the same quarter in the previous year, the business earned $0.07 earnings per share. The company’s revenue was up 47.4% on a year-over-year basis. Equities research analysts anticipate that Rayonier Inc. will post $0.40 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Thursday, September 14th. Rayonier’s dividend payout ratio is currently 84.75%.
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Several equities research analysts recently issued reports on RYN shares. BMO Capital Markets reiterated a “buy” rating and set a $31.00 price target on shares of Rayonier in a report on Wednesday, April 19th. Zacks Investment Research upgraded Rayonier from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research note on Monday, April 17th. Vertical Research upgraded Rayonier to a “buy” rating in a research note on Sunday, May 28th. Royal Bank Of Canada restated a “hold” rating and issued a $28.00 price objective on shares of Rayonier in a research note on Monday, July 31st. Finally, BidaskClub downgraded Rayonier from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Rayonier currently has a consensus rating of “Hold” and a consensus target price of $30.00.
In other Rayonier news, Director Andrew G. Wiltshire purchased 6,650 shares of the firm’s stock in a transaction dated Wednesday, May 10th. The stock was purchased at an average price of $27.87 per share, for a total transaction of $185,335.50. Following the completion of the purchase, the director now directly owns 26,006 shares of the company’s stock, valued at $724,787.22. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.61% of the stock is owned by insiders.
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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