Capstone Asset Management Co. cut its stake in shares of Rayonier Inc. (NYSE:RYN) by 5.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,678 shares of the real estate investment trust’s stock after selling 520 shares during the period. Capstone Asset Management Co.’s holdings in Rayonier were worth $246,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. NN Investment Partners Holdings N.V. boosted its position in Rayonier by 47.6% in the fourth quarter. NN Investment Partners Holdings N.V. now owns 24,853 shares of the real estate investment trust’s stock worth $661,000 after buying an additional 8,020 shares during the last quarter. D.A. Davidson & CO. boosted its position in Rayonier by 5.5% in the third quarter. D.A. Davidson & CO. now owns 111,000 shares of the real estate investment trust’s stock worth $2,945,000 after buying an additional 5,770 shares during the last quarter. Schafer Cullen Capital Management Inc. boosted its position in Rayonier by 41.8% in the third quarter. Schafer Cullen Capital Management Inc. now owns 11,625 shares of the real estate investment trust’s stock worth $309,000 after buying an additional 3,425 shares during the last quarter. Global Alpha Capital Management Ltd. boosted its position in Rayonier by 13.2% in the third quarter. Global Alpha Capital Management Ltd. now owns 283,050 shares of the real estate investment trust’s stock worth $7,512,000 after buying an additional 33,000 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Rayonier by 44.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 77,327 shares of the real estate investment trust’s stock worth $2,052,000 after buying an additional 23,727 shares during the last quarter. Institutional investors and hedge funds own 82.62% of the company’s stock.
Rayonier Inc. (NYSE:RYN) traded up 0.24% during trading on Friday, reaching $28.83. 1,753,941 shares of the company traded hands. Rayonier Inc. has a 12-month low of $24.47 and a 12-month high of $29.86. The firm’s 50 day moving average price is $28.14 and its 200 day moving average price is $28.05. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of 15.35 and a beta of 0.39.
Rayonier (NYSE:RYN) last announced its earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by $0.05. Rayonier had a net margin of 27.54% and a return on equity of 4.10%. The firm had revenue of $186.50 million during the quarter, compared to analysts’ expectations of $159.31 million. During the same period in the prior year, the company posted $0.11 EPS. The company’s revenue was up 38.4% compared to the same quarter last year. Equities research analysts expect that Rayonier Inc. will post $0.37 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 16th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend is Wednesday, June 14th. Rayonier’s dividend payout ratio is currently 53.48%.
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A number of research firms recently commented on RYN. BMO Capital Markets reiterated a “buy” rating and set a $31.00 price target on shares of Rayonier in a report on Thursday, March 16th. Zacks Investment Research upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research report on Friday, March 10th. Finally, Vertical Research upgraded shares of Rayonier to a “buy” rating in a research report on Sunday, May 28th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $29.80.
In other news, Director Andrew G. Wiltshire bought 6,650 shares of Rayonier stock in a transaction dated Wednesday, May 10th. The shares were acquired at an average price of $27.87 per share, with a total value of $185,335.50. Following the completion of the purchase, the director now owns 26,006 shares in the company, valued at approximately $724,787.22. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.61% of the company’s stock.
Rayonier Company 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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