Nomura Holdings Inc. cut its position in Rayonier Inc. (NYSE:RYN) by 22.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 94,386 shares of the real estate investment trust’s stock after selling 26,624 shares during the period. Nomura Holdings Inc.’s holdings in Rayonier were worth $2,478,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the company. Integrated Investment Consultants LLC acquired a new stake in shares of Rayonier during the second quarter worth about $100,000. Tower Research Capital LLC TRC purchased a new position in shares of Rayonier during the second quarter worth $176,000. LS Investment Advisors LLC raised its position in shares of Rayonier by 72.1% in the second quarter. LS Investment Advisors LLC now owns 7,345 shares of the real estate investment trust’s stock worth $193,000 after buying an additional 3,077 shares during the last quarter. Boston Private Wealth LLC purchased a new position in shares of Rayonier during the second quarter worth $202,000. Finally, Hancock Holding Co. purchased a new position in shares of Rayonier during the second quarter worth $215,000. Institutional investors and hedge funds own 84.91% of the company’s stock.
Rayonier Inc. (NYSE:RYN) opened at 26.92 on Monday. The company has a 50-day moving average price of $27.05 and a 200 day moving average price of $25.76. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of 21.59 and a beta of 0.63. Rayonier Inc. has a 52-week low of $17.85 and a 52-week high of $28.16.
Rayonier (NYSE:RYN) last posted its earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.04. The company earned $132.10 million during the quarter, compared to the consensus estimate of $116.36 million. Rayonier had a net margin of 22.52% and a return on equity of 4.06%. Rayonier’s quarterly revenue was up 14.1% compared to the same quarter last year. On average, analysts expect that Rayonier Inc. will post $0.38 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $1.00 dividend on an annualized basis and a yield of 3.71%. Rayonier’s dividend payout ratio is presently 80.00%.
A number of brokerages have recently weighed in on RYN. Buckingham Research lowered Rayonier from a “buy” rating to a “neutral” rating and set a $29.00 price objective for the company. in a research report on Wednesday, September 7th. They noted that the move was a valuation call. Zacks Investment Research upgraded Rayonier from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Monday, August 8th. Finally, TheStreet upgraded Rayonier from a “hold” rating to a “buy” rating in a research report on Thursday, August 4th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $26.75.
In other Rayonier news, Director Andrew G. Wiltshire bought 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The stock was bought at an average cost of $25.81 per share, for a total transaction of $103,240.00. Following the completion of the transaction, the director now directly owns 15,356 shares of the company’s stock, valued at approximately $396,338.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Shelby L. Pyatt sold 1,500 shares of the business’s stock in a transaction on Friday, August 19th. The shares were sold at an average price of $26.97, for a total transaction of $40,455.00. Following the transaction, the vice president now owns 6,170 shares of the company’s stock, valued at $166,404.90. The disclosure for this sale can be found here. Corporate insiders own 0.58% of the company’s stock.
Rayonier Company Profile
Rayonier Inc (Rayonier) is a timberland real estate investment trust (REIT). As of December 31, 2014, the Company owned, leased or managed 2.7 million acres of timberlands located in the United States South (1.9 million acres), United States Pacific Northwest (372,000 acres) and New Zealand (451,000 gross acres, or 309,000 net plantable acres).
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