Louisiana State Employees Retirement System lowered its position in shares of Rayonier Inc. (NYSE:RYN) by 4.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,600 shares of the real estate investment trust’s stock after selling 1,400 shares during the period. Louisiana State Employees Retirement System’s holdings in Rayonier were worth $855,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of the stock. Norges Bank acquired a new position in Rayonier during the fourth quarter worth about $34,040,000. JPMorgan Chase & Co. boosted its position in Rayonier by 4.2% in the first quarter. JPMorgan Chase & Co. now owns 12,290,801 shares of the real estate investment trust’s stock worth $303,337,000 after buying an additional 499,488 shares during the last quarter. Cannell Peter B & Co Inc boosted its position in Rayonier by 226.8% in the first quarter. Cannell Peter B & Co Inc now owns 632,100 shares of the real estate investment trust’s stock worth $15,600,000 after buying an additional 438,700 shares during the last quarter. Pictet Asset Management Ltd. boosted its position in Rayonier by 13.1% in the first quarter. Pictet Asset Management Ltd. now owns 3,581,077 shares of the real estate investment trust’s stock worth $78,175,000 after buying an additional 414,134 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in Rayonier by 26.9% in the first quarter. Renaissance Technologies LLC now owns 1,393,600 shares of the real estate investment trust’s stock worth $34,394,000 after buying an additional 295,200 shares during the last quarter. Institutional investors own 84.91% of the company’s stock.
Shares of Rayonier Inc. (NYSE:RYN) traded up 0.62% during midday trading on Thursday, reaching $25.76. The company’s stock had a trading volume of 358,054 shares. Rayonier Inc. has a one year low of $17.85 and a one year high of $28.16. The company has a market capitalization of $3.16 billion, a P/E ratio of 20.66 and a beta of 0.55. The stock’s 50-day moving average is $26.82 and its 200-day moving average is $25.98.
Rayonier (NYSE:RYN) last issued its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.04. The firm had revenue of $132.10 million for the quarter, compared to analysts’ expectations of $116.36 million. Rayonier had a return on equity of 4.06% and a net margin of 22.52%. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. On average, equities analysts expect that Rayonier Inc. will post $0.38 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.88%. The ex-dividend date of this dividend was Wednesday, September 14th. Rayonier’s dividend payout ratio (DPR) is presently 80.00%.
RYN has been the subject of a number of recent analyst reports. TheStreet upgraded Rayonier from a “hold” rating to a “buy” rating in a report on Thursday, August 4th. Buckingham Research lowered Rayonier from a “buy” rating to a “neutral” rating and set a $29.00 target price for the company. in a research report on Wednesday, September 7th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised Rayonier from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Monday, August 8th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Rayonier has a consensus rating of “Buy” and a consensus price target of $26.75.
In related news, Director Andrew G. Wiltshire purchased 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 14th. The shares were purchased at an average price of $25.77 per share, for a total transaction of $103,080.00. Following the transaction, the director now directly owns 11,356 shares of the company’s stock, valued at approximately $292,644.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Shelby L. Pyatt sold 1,500 shares of the business’s stock in a transaction dated 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 transaction, the vice president now owns 6,170 shares in the company, valued at approximately $166,404.90. The disclosure for this sale can be found here. 0.58% of the stock is 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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