Ameriprise Financial Inc. boosted its stake in Rayonier Inc. (NYSE:RYN) by 2.0% during the second quarter, Holdings Channel reports. The fund owned 361,980 shares of the real estate investment trust’s stock after buying an additional 7,076 shares during the period. Ameriprise Financial Inc. owned approximately 0.30% of Rayonier worth $9,499,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Integrated Investment Consultants LLC purchased a new stake in Rayonier during the second quarter valued at about $100,000. LS Investment Advisors LLC raised its stake in 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 valued at $193,000 after buying an additional 3,077 shares during the last quarter. Boston Private Wealth LLC purchased a new stake in Rayonier during the second quarter valued at about $202,000. Weatherly Asset Management L. P. raised its stake in Rayonier by 45.2% in the second quarter. Weatherly Asset Management L. P. now owns 13,286 shares of the real estate investment trust’s stock valued at $237,000 after buying an additional 4,133 shares during the last quarter. Finally, Timber Hill LLC purchased a new stake in Rayonier during the second quarter valued at about $249,000. 84.91% of the stock is currently owned by institutional investors and hedge funds.
Shares of Rayonier Inc. (NYSE:RYN) traded down 1.17% on Monday, reaching $26.23. 131,525 shares of the company were exchanged. The company has a market capitalization of $3.21 billion, a P/E ratio of 21.03 and a beta of 0.55. The stock has a 50 day moving average of $26.98 and a 200-day moving average of $25.90. Rayonier Inc. has a 52-week low of $17.85 and a 52-week high of $28.16.
Rayonier (NYSE:RYN) last posted its quarterly earnings data on Wednesday, August 3rd. The real estate investment trust reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.04. The company had revenue of $132.10 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. On average, analysts predict that Rayonier Inc. will post $0.38 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, September 14th. This represents a $1.00 dividend on an annualized basis and a yield of 3.77%. Rayonier’s dividend payout ratio is presently 80.00%.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Rayonier from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research note on Monday, August 8th. TheStreet raised shares of Rayonier from a “hold” rating to a “buy” rating in a research note on Thursday, August 4th. Finally, Buckingham Research lowered shares of Rayonier from a “buy” rating to a “neutral” rating and set a $29.00 target price on the stock. in a research note on Wednesday, September 7th. They noted that the move was a valuation call. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $26.75.
In other Rayonier news, Director Andrew G. Wiltshire acquired 4,000 shares of the company’s stock in a transaction on Thursday, September 15th. The shares were bought at an average cost of $25.81 per share, for a total transaction of $103,240.00. Following the completion of the purchase, the director now owns 15,356 shares in the company, valued at approximately $396,338.36. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Shelby L. Pyatt sold 1,500 shares of Rayonier 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 completion of the transaction, the vice president now owns 6,170 shares in the company, valued at $166,404.90. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by company insiders.
Rayonier Company Profile
Rayonier Inc is a timberland real estate investment trust (REIT) with assets located in 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. Its 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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