Rayonier Inc. (NYSE:RYN) Holdings Cut by Meadow Creek Investment Management LLC

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Meadow Creek Investment Management LLC lowered its holdings in shares of Rayonier Inc. (NYSE:RYN) by 28.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,276 shares of the real estate investment trust’s stock after selling 20,440 shares during the quarter. Meadow Creek Investment Management LLC’s holdings in Rayonier were worth $1,584,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Commonwealth Bank of Australia raised its holdings in shares of Rayonier by 57.6% during the 2nd quarter. Commonwealth Bank of Australia now owns 15,600 shares of the real estate investment trust’s stock valued at $472,000 after purchasing an additional 5,700 shares in the last quarter. Pacer Advisors Inc. bought a new position in Rayonier in the 2nd quarter worth $1,561,000. Bank of New York Mellon Corp raised its holdings in Rayonier by 4.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,561,783 shares of the real estate investment trust’s stock worth $47,323,000 after acquiring an additional 70,119 shares during the period. Quantamental Technologies LLC raised its holdings in Rayonier by 36.7% in the 2nd quarter. Quantamental Technologies LLC now owns 7,172 shares of the real estate investment trust’s stock worth $217,000 after acquiring an additional 1,926 shares during the period. Finally, Pearl River Capital LLC bought a new position in Rayonier in the 2nd quarter worth $25,000. Institutional investors and hedge funds own 85.03% of the company’s stock.

RYN traded down $0.09 during trading on Friday, hitting $27.95. The stock had a trading volume of 35,485 shares, compared to its average volume of 486,039. The firm has a market cap of $3.62 billion, a PE ratio of 35.30 and a beta of 0.80. Rayonier Inc. has a 12 month low of $25.83 and a 12 month high of $34.81. The company has a current ratio of 2.56, a quick ratio of 2.29 and a debt-to-equity ratio of 0.61. The company has a 50 day simple moving average of $27.37 and a 200-day simple moving average of $29.68.

Rayonier (NYSE:RYN) last announced its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. The firm had revenue of $184.80 million for the quarter, compared to the consensus estimate of $196.11 million. Rayonier had a net margin of 9.28% and a return on equity of 4.18%. The business’s quarterly revenue was down 24.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.28 EPS. As a group, sell-side analysts anticipate that Rayonier Inc. will post 0.46 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a $0.27 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $1.08 annualized dividend and a yield of 3.86%. Rayonier’s dividend payout ratio is 136.71%.

In related news, Director Andrew G. Wiltshire purchased 2,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were bought at an average cost of $26.34 per share, for a total transaction of $52,680.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David L. Nunes purchased 10,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was bought at an average price of $26.14 per share, for a total transaction of $261,400.00. Following the completion of the transaction, the chief executive officer now directly owns 328,428 shares in the company, valued at $8,585,107.92. The disclosure for this purchase can be found here. Company insiders own 0.47% of the company’s stock.

Several brokerages recently commented on RYN. Bank of America dropped their target price on shares of Rayonier from $32.00 to $31.00 and set an “underperform” rating on the stock in a report on Friday, August 9th. ValuEngine upgraded shares of Rayonier from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Zacks Investment Research downgraded shares of Rayonier from a “buy” rating to a “hold” rating in a report on Thursday, May 16th. BMO Capital Markets dropped their target price on shares of Rayonier from $34.00 to $30.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th. Finally, TheStreet downgraded shares of Rayonier from a “b-” rating to a “c” rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $31.19.

Rayonier Profile

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 December 31, 2018, Rayonier owned, leased or managed approximately 2.6 million acres of timberlands located in the U.S.

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Institutional Ownership by Quarter for Rayonier (NYSE:RYN)

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