Pacad Investment Ltd. decreased its holdings in shares of Rayonier Inc. (NYSE:RYN) by 19.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,400 shares of the real estate investment trust’s stock after selling 3,400 shares during the period. Pacad Investment Ltd.’s holdings in Rayonier were worth $414,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of RYN. IFP Advisors Inc boosted its position in shares of Rayonier by 1.8% during the 1st quarter. IFP Advisors Inc now owns 3,881 shares of the real estate investment trust’s stock valued at $110,000 after purchasing an additional 67 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Rayonier by 7.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,772 shares of the real estate investment trust’s stock valued at $137,000 after purchasing an additional 351 shares in the last quarter. Enterprise Financial Services Corp bought a new position in shares of Rayonier during the 2nd quarter valued at about $144,000. Creative Planning boosted its position in shares of Rayonier by 36.2% during the 2nd quarter. Creative Planning now owns 5,326 shares of the real estate investment trust’s stock valued at $153,000 after purchasing an additional 1,417 shares in the last quarter. Finally, Independent Portfolio Consultants Inc. bought a new position in shares of Rayonier during the 2nd quarter valued at about $157,000. Institutional investors own 82.40% of the company’s stock.
Several equities analysts have recently weighed in on RYN shares. Zacks Investment Research upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. BidaskClub upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Vertical Research upgraded shares of Rayonier to a “buy” rating in a research report on Sunday, May 28th. BMO Capital Markets lowered shares of Rayonier from an “outperform” rating to a “market perform” rating and set a $31.00 price objective for the company. in a research note on Monday, August 14th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $28.00 price objective on shares of Rayonier in a research note on Monday, July 31st. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Rayonier has an average rating of “Hold” and a consensus target price of $30.00.
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Shares of Rayonier Inc. (NYSE RYN) opened at 28.72 on Friday. The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of 24.20 and a beta of 0.35. The firm’s 50-day moving average is $28.57 and its 200-day moving average is $28.49. Rayonier Inc. has a 1-year low of $25.24 and a 1-year high of $29.86.
Rayonier (NYSE:RYN) last posted its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.09. The company had revenue of $194.70 million during the quarter, compared to analyst estimates of $151.50 million. Rayonier had a return on equity of 5.03% and a net margin of 19.10%. The company’s revenue for the quarter was up 47.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.07 EPS. On average, analysts predict that Rayonier Inc. will post $0.43 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.00 annualized dividend and a dividend yield of 3.48%. Rayonier’s payout ratio is currently 84.75%.
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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