Arrowstreet Capital Limited Partnership boosted its holdings in shares of Rayonier Inc. (NYSE:RYN) by 2,414.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 352,006 shares of the real estate investment trust’s stock after purchasing an additional 338,006 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.27% of Rayonier worth $10,127,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in Rayonier by 13,910.0% during 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 purchasing an additional 11,236,902 shares during the last quarter. Federated Investors Inc. PA lifted its stake in Rayonier by 33.8% during the second quarter. Federated Investors Inc. PA now owns 125,809 shares of the real estate investment trust’s stock valued at $3,619,000 after purchasing an additional 31,782 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Rayonier by 8.7% during the second quarter. Principal Financial Group Inc. now owns 546,619 shares of the real estate investment trust’s stock valued at $15,726,000 after purchasing an additional 43,842 shares during the last quarter. Sei Investments Co. lifted its stake in Rayonier by 418.0% during the first quarter. Sei Investments Co. now owns 24,181 shares of the real estate investment trust’s stock valued at $685,000 after purchasing an additional 19,513 shares during the last quarter. Finally, Highbridge Capital Management LLC acquired a new stake in Rayonier during the first quarter valued at approximately $4,534,000. 82.40% of the stock is owned by institutional investors and hedge funds.

Rayonier Inc. (RYN) traded up 0.496% during mid-day trading on Friday, reaching $29.606. 14,312 shares of the company traded hands. The stock’s 50-day moving average price is $28.76 and its 200-day moving average price is $28.57. The firm has a market cap of $3.81 billion, a PE ratio of 24.942 and a beta of 0.34. Rayonier Inc. has a one year low of $25.45 and a one year high of $29.86.

Rayonier (NYSE:RYN) last released its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.09. Rayonier had a net margin of 19.10% and a return on equity of 5.03%. The business had revenue of $194.70 million for the quarter, compared to analyst estimates of $151.50 million. During the same quarter last year, the firm earned $0.07 EPS. Rayonier’s quarterly revenue was up 47.4% compared to the same quarter last year. Analysts forecast that Rayonier Inc. will post $0.43 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend was Thursday, September 14th. Rayonier’s payout ratio is 84.75%.

Several research firms recently commented on RYN. Zacks Investment Research raised shares of Rayonier from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. Royal Bank Of Canada reissued a “hold” rating and set a $29.00 target price on shares of Rayonier in a research note on Sunday, October 8th. BMO Capital Markets reissued a “hold” rating and set a $31.00 target price on shares of Rayonier in a research note on Friday, September 29th. Finally, BidaskClub raised shares of Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $30.25.

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Rayonier 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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Institutional Ownership by Quarter for Rayonier (NYSE:RYN)

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