Foster Dykema Cabot & Co. Inc. MA Maintains Position in Rayonier Inc. (NYSE:RYN)
Foster Dykema Cabot & Co. Inc. MA continued to hold its stake in Rayonier Inc. (NYSE:RYN) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,200 shares of the real estate investment trust’s stock at the end of the second quarter. Foster Dykema Cabot & Co. Inc. MA’s holdings in Rayonier were worth $207,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the stock. BlackRock Inc. raised its stake in Rayonier by 13,910.0% in the first quarter. BlackRock Inc. now owns 11,317,685 shares of the real estate investment trust’s stock valued at $320,744,000 after buying an additional 11,236,902 shares during the last quarter. Deprince Race & Zollo Inc. bought a new stake in Rayonier during the first quarter valued at about $23,620,000. UBS Oconnor LLC bought a new stake in Rayonier during the first quarter valued at about $22,100,000. MARSHALL WACE ASIA Ltd bought a new stake in Rayonier during the first quarter valued at about $20,356,000. Finally, Marshall Wace North America L.P. bought a new stake in Rayonier during the first quarter valued at about $20,356,000. 82.59% of the stock is owned by institutional investors and hedge funds.
Shares of Rayonier Inc. (RYN) opened at 28.66 on Friday. The company’s 50 day moving average price is $28.89 and its 200-day moving average price is $28.52. Rayonier Inc. has a 52 week low of $25.24 and a 52 week high of $29.86. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of 24.14 and a beta of 0.35.
Rayonier (NYSE:RYN) last released its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.20 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $151.50 million. During the same period in the prior year, the firm posted $0.07 earnings per share. The firm’s quarterly revenue was up 47.4% on a year-over-year basis. Analysts anticipate that Rayonier Inc. will post $0.41 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date is Thursday, September 14th. Rayonier’s dividend payout ratio is presently 84.75%.
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Several equities research analysts have recently issued reports on RYN shares. Zacks Investment Research raised 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 raised Rayonier to a “buy” rating in a research note on Sunday, May 28th. BMO Capital Markets reaffirmed a “buy” rating and issued a $31.00 price objective on shares of Rayonier in a research note on Wednesday, April 19th. BidaskClub lowered Rayonier from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $28.00 price objective on shares of Rayonier in a research note on Monday, July 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $30.00.
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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