Emerald Acquisition Ltd. purchased a new stake in shares of Rayonier Inc. (NYSE:RYN) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 52,839 shares of the real estate investment trust’s stock, valued at approximately $1,387,000.
A number of other hedge funds also recently made changes to their positions in RYN. Integrated Investment Consultants LLC bought a new stake in shares of Rayonier during the second quarter valued at about $100,000. LS Investment Advisors LLC increased its stake 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 valued at $193,000 after buying an additional 3,077 shares in the last quarter. Boston Private Wealth LLC bought a new stake in shares of Rayonier during the second quarter valued at about $202,000. Hartford Financial Management Inc. increased its stake in shares of Rayonier by 14.4% in the second quarter. Hartford Financial Management Inc. now owns 9,950 shares of the real estate investment trust’s stock valued at $261,000 after buying an additional 1,250 shares in the last quarter. Finally, Stelac Advisory Services LLC increased its stake in shares of Rayonier by 30.3% in the first quarter. Stelac Advisory Services LLC now owns 12,006 shares of the real estate investment trust’s stock valued at $281,000 after buying an additional 2,791 shares in the last quarter. Hedge funds and other institutional investors own 84.91% of the company’s stock.
Shares of Rayonier Inc. (NYSE:RYN) traded up 1.02% during trading on Thursday, hitting $25.86. 129,853 shares of the stock traded hands. The company has a market cap of $3.17 billion, a PE ratio of 20.74 and a beta of 0.55. Rayonier Inc. has a one year low of $17.85 and a one year high of $28.16. The firm has a 50 day moving average price of $26.86 and a 200-day moving average price of $25.98.
Rayonier (NYSE:RYN) last released its quarterly earnings data on Wednesday, August 3rd. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.04. Rayonier had a net margin of 22.52% and a return on equity of 4.06%. The business earned $132.10 million during the quarter, compared to analyst estimates of $116.36 million. The business’s revenue was up 14.1% on a year-over-year basis. Analysts anticipate that Rayonier Inc. will post $0.38 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.91%. The ex-dividend date of this dividend was Wednesday, September 14th. Rayonier’s payout ratio is presently 80.00%.
Several analysts have recently weighed in on RYN shares. TheStreet upgraded Rayonier from a “hold” rating to a “buy” rating in a research note on Thursday, August 4th. Zacks Investment Research upgraded Rayonier from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Monday, August 8th. Finally, Buckingham Research downgraded Rayonier from a “buy” rating to a “neutral” rating and set a $29.00 target price for the company. in a research note on Wednesday, September 7th. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Rayonier presently has an average rating of “Buy” and an average target price of $26.75.
In related news, 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 value of $40,455.00. Following the completion of the sale, the vice president now owns 6,170 shares of the company’s stock, valued at approximately $166,404.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Andrew G. Wiltshire acquired 4,000 shares of Rayonier stock in a transaction that occurred on Wednesday, September 14th. The stock was acquired at an average cost of $25.77 per share, with a total value of $103,080.00. Following the purchase, the director now owns 11,356 shares in the company, valued at approximately $292,644.12. The disclosure for this purchase can be found here. 0.58% of the stock is currently owned by corporate 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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