Oregon Public Employees Retirement Fund Grows Holdings in Rayonier Inc. (RYN)
Oregon Public Employees Retirement Fund grew its holdings in shares of Rayonier Inc. (NYSE:RYN) by 3.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 50,088 shares of the real estate investment trust’s stock after purchasing an additional 1,753 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Rayonier were worth $1,938,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Synovus Financial Corp purchased a new position in shares of Rayonier in the first quarter valued at $124,000. Interactive Financial Advisors boosted its stake in shares of Rayonier by 114.9% in the second quarter. Interactive Financial Advisors now owns 3,204 shares of the real estate investment trust’s stock valued at $124,000 after purchasing an additional 1,713 shares during the period. Quantbot Technologies LP purchased a new position in shares of Rayonier in the first quarter valued at $138,000. TLP Group LLC boosted its stake in shares of Rayonier by 1,819.3% in the first quarter. TLP Group LLC now owns 5,681 shares of the real estate investment trust’s stock valued at $200,000 after purchasing an additional 5,385 shares during the period. Finally, Sfmg LLC purchased a new position in shares of Rayonier in the second quarter valued at $200,000. Institutional investors own 86.16% of the company’s stock.
RYN has been the subject of several analyst reports. BMO Capital Markets downgraded shares of Rayonier from a “market perform” rating to an “underperform” rating in a research note on Wednesday, July 18th. Zacks Investment Research downgraded shares of Rayonier from a “buy” rating to a “hold” rating in a research note on Monday, July 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $35.40.
Rayonier (NYSE:RYN) last posted its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.10. The firm had revenue of $245.90 million for the quarter, compared to analysts’ expectations of $193.04 million. Rayonier had a net margin of 19.12% and a return on equity of 7.47%. The firm’s quarterly revenue was up 22.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.20 earnings per share. research analysts predict that Rayonier Inc. will post 0.69 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $1.08 annualized dividend and a yield of 3.13%. Rayonier’s dividend payout ratio is presently 166.15%.
Rayonier is a leading timberland real estate investment trust with assets located in some of the most productive softwood timber growing regions in the United States and New Zealand. As of March 31, 2018, Rayonier owned, leased or managed approximately 2.6 million acres of timberlands located in the U.S.
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