QRG Capital Management Inc. Buys New Stake in Rayonier Inc. $RYN

QRG Capital Management Inc. purchased a new position in shares of Rayonier Inc. (NYSE:RYN) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 87,331 shares of the real estate investment trust’s stock, valued at approximately $1,801,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Eurizon Capital SGR S.p.A. acquired a new position in Rayonier in the fourth quarter valued at $34,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Rayonier by 65.7% during the fourth 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 in the last quarter. Bayban purchased a new stake in shares of Rayonier in the 1st quarter valued at about $36,000. Hartford Financial Management Inc. lifted its holdings in shares of Rayonier by 49.7% in 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 during the last quarter. Finally, North Star Investment Management Corp. acquired a new stake in shares of Rayonier in the 1st quarter valued at about $51,000. 89.12% of the stock is owned by hedge funds and other institutional investors.

Rayonier Price Performance

Shares of RYN opened at $21.83 on Wednesday. Rayonier Inc. has a twelve month low of $19.49 and a twelve month high of $27.33. The stock’s 50 day moving average is $20.93 and its two-hundred day moving average is $21.54. The firm has a market capitalization of $6.57 billion, a PE ratio of 7.23 and a beta of 0.88. The company has a current ratio of 2.53, a quick ratio of 2.21 and a debt-to-equity ratio of 0.35.

Rayonier (NYSE:RYN) last issued its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 3.61% and a net margin of 68.61%.The company’s revenue for the quarter was up 233.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.02) EPS. Research analysts anticipate that Rayonier Inc. will post 0.36 earnings per share for the current year.

Rayonier Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were given a $0.26 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $1.04 annualized dividend and a yield of 4.8%. Rayonier’s dividend payout ratio is presently 34.44%.

Insider Transactions at Rayonier

In other Rayonier news, CFO Wayne Wasechek sold 2,920 shares of the firm’s stock in a transaction on Monday, April 20th. The stock was sold at an average price of $21.17, for a total value of $61,816.40. Following the completion of the sale, the chief financial officer owned 115,530 shares of the company’s stock, valued at approximately $2,445,770.10. This trade represents a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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. Insiders own 0.85% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on RYN shares. Wall Street Zen upgraded Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, April 18th. Royal Bank Of Canada set a $24.00 price objective on Rayonier in a report on Thursday, April 16th. Weiss Ratings lowered shares of Rayonier from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 12th. BMO Capital Markets cut their target price on shares of Rayonier from $26.00 to $25.00 and set a “market perform” rating on the stock in a report on Tuesday, May 19th. Finally, Citigroup reduced their price target on shares of Rayonier from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $24.80.

Rayonier Company Profile

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.