Vestcor Inc Has $2.78 Million Stock Holdings in Rayonier Inc. $RYN

Vestcor Inc increased its holdings in shares of Rayonier Inc. (NYSE:RYN) by 3,590.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 128,231 shares of the real estate investment trust’s stock after acquiring an additional 124,756 shares during the quarter. Vestcor Inc’s holdings in Rayonier were worth $2,776,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. UBS Group AG boosted its position in Rayonier by 882.5% during the 4th quarter. UBS Group AG now owns 496,024 shares of the real estate investment trust’s stock worth $10,739,000 after buying an additional 445,538 shares during the period. JPMorgan Chase & Co. boosted its position in Rayonier by 2.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,782,342 shares of the real estate investment trust’s stock worth $100,383,000 after buying an additional 94,033 shares during the period. Vanguard Group Inc. boosted its position in Rayonier by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 21,174,792 shares of the real estate investment trust’s stock worth $458,434,000 after buying an additional 444,503 shares during the period. HighTower Advisors LLC boosted its position in Rayonier by 61.3% during the 4th quarter. HighTower Advisors LLC now owns 139,706 shares of the real estate investment trust’s stock worth $3,025,000 after buying an additional 53,087 shares during the period. Finally, Oak Thistle LLC acquired a new stake in Rayonier during the 4th quarter worth approximately $1,112,000. 89.12% of the stock is currently owned by institutional investors and hedge funds.

Rayonier Trading Down 0.2%

NYSE:RYN opened at $20.97 on Friday. The firm’s fifty day moving average is $20.81 and its 200-day moving average is $21.61. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.21 and a current ratio of 2.53. Rayonier Inc. has a 52 week low of $19.49 and a 52 week high of $27.33. The firm has a market cap of $6.31 billion, a P/E ratio of 6.94 and a beta of 0.88.

Rayonier (NYSE:RYN) last posted its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. Rayonier had a net margin of 68.61% and a return on equity of 3.61%. The company had revenue of $276.79 million for the quarter, compared to analyst estimates of $280.92 million. During the same period in the prior year, the firm posted ($0.02) EPS. The company’s quarterly revenue was up 233.9% on a year-over-year basis. Equities analysts expect that Rayonier Inc. will post 0.36 earnings per share for the current year.

Rayonier Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Tuesday, June 16th. Rayonier’s payout ratio is presently 34.44%.

Insider Activity

In related news, CFO Wayne Wasechek sold 2,920 shares of the business’s stock in a transaction on Monday, April 20th. The shares were sold at an average price of $21.17, for a total transaction of $61,816.40. Following the transaction, the chief financial officer owned 115,530 shares in the company, valued at $2,445,770.10. The trade was a 2.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.85% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

RYN has been the topic of several recent research reports. Citigroup cut their target price on shares of Rayonier from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. Royal Bank Of Canada set a $24.00 price objective on shares of Rayonier in a research note on Thursday, April 16th. Raymond James Financial raised shares of Rayonier from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $26.00 to $28.00 in a research note on Friday, February 13th. Weiss Ratings lowered shares of Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. Finally, Wall Street Zen raised shares of Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, April 18th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $24.80.

About Rayonier

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.