Sanctuary Advisors LLC acquired a new position in Rayonier Inc. (NYSE:RYN - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 107,630 shares of the real estate investment trust's stock, valued at approximately $2,219,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RYN. Eurizon Capital SGR S.p.A. bought a new stake in Rayonier in the fourth quarter worth approximately $34,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Rayonier by 65.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,581 shares of the real estate investment trust's stock worth $34,000 after purchasing an additional 627 shares during the last quarter. Hartford Financial Management Inc. raised its holdings in shares of Rayonier by 49.7% during the 4th quarter. Hartford Financial Management Inc. now owns 1,732 shares of the real estate investment trust's stock valued at $37,000 after purchasing an additional 575 shares in the last quarter. Bayban bought a new position in shares of Rayonier during the 1st quarter valued at $36,000. Finally, Whittier Trust Co. raised its holdings in shares of Rayonier by 74.0% during the 1st quarter. Whittier Trust Co. now owns 2,279 shares of the real estate investment trust's stock valued at $47,000 after purchasing an additional 969 shares in the last quarter. Institutional investors own 89.12% of the company's stock.
Rayonier Trading Down 0.1%
NYSE:RYN opened at $21.24 on Wednesday. The company's 50 day moving average is $21.05 and its 200-day moving average is $21.52. The company has a quick ratio of 2.21, a current ratio of 2.53 and a debt-to-equity ratio of 0.35. Rayonier Inc. has a 12 month low of $19.49 and a 12 month high of $27.33. The firm has a market cap of $6.39 billion, a price-to-earnings ratio of 7.03 and a beta of 0.88.
Rayonier (NYSE:RYN - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01. The business had revenue of $276.79 million during the quarter, compared to the consensus estimate of $280.92 million. Rayonier had a net margin of 68.61% and a return on equity of 3.61%. Rayonier's quarterly revenue was up 233.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.02) EPS. Equities analysts anticipate that Rayonier Inc. will post 0.36 EPS for the current year.
Rayonier Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Wednesday, September 16th. Rayonier's dividend payout ratio is 34.44%.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on RYN shares. Weiss Ratings cut shares of Rayonier from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, May 12th. BMO Capital Markets cut their target price on Rayonier from $26.00 to $25.00 and set a "market perform" rating on the stock in a report on Tuesday, May 19th. Wall Street Zen upgraded Rayonier from a "sell" rating to a "hold" rating in a report on Saturday, April 18th. Citigroup reduced their price target on Rayonier from $24.00 to $22.00 and set a "neutral" rating for the company in a research report on Wednesday, May 13th. Finally, Royal Bank Of Canada set a $24.00 price target on Rayonier in a research note on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Rayonier presently has an average rating of "Hold" and a consensus target price of $24.60.
Check Out Our Latest Stock Report on RYN
About Rayonier
(
Free Report)
Rayonier, Inc NYSE: RYN is a publicly traded real estate investment trust specializing in timberland ownership and management. The company's core business revolves around sustainably growing, harvesting, and marketing timber and timber-related products. Rayonier's timberland portfolio encompasses approximately 2.7 million acres across the United States and New Zealand, focusing on softwood and hardwood fiber for use in paper, packaging and building materials.
Rayonier operates through two primary segments: Timber and Real Estate Solutions.
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