Teacher Retirement System of Texas increased its stake in Rayonier Inc. (NYSE:RYN) by 13.8% during the second quarter, Holdings Channel reports. The fund owned 17,277 shares of the real estate investment trust’s stock after buying an additional 2,096 shares during the period. Teacher Retirement System of Texas’ holdings in Rayonier were worth $453,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of RYN. Norges Bank bought a new position in shares of Rayonier during the fourth quarter valued at $34,040,000. Fuller & Thaler Asset Management Inc. increased its stake in shares of Rayonier by 20.0% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 3,926,966 shares of the real estate investment trust’s stock valued at $103,044,000 after buying an additional 655,385 shares during the period. JPMorgan Chase & Co. increased its stake in shares of 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 valued at $303,337,000 after buying an additional 499,488 shares during the period. Cannell Peter B & Co Inc increased its stake in shares of 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 valued at $15,600,000 after buying an additional 438,700 shares during the period. Finally, Pictet Asset Management Ltd. increased its stake in shares of 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 valued at $78,175,000 after buying an additional 414,134 shares during the period. Institutional investors own 84.91% of the company’s stock.
Rayonier Inc. (NYSE:RYN) traded down 0.35% during trading on Friday, reaching $25.67. 38,729 shares of the company’s stock traded hands. Rayonier Inc. has a 12 month low of $17.85 and a 12 month high of $28.16. The firm’s 50 day moving average is $26.82 and its 200-day moving average is $25.98. The company has a market capitalization of $3.15 billion, a price-to-earnings ratio of 20.59 and a beta of 0.55.
Rayonier (NYSE:RYN) last announced 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 analyst estimates of $116.36 million. Rayonier had a net margin of 22.52% and a return on equity of 4.06%. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. Analysts expect that Rayonier Inc. will post $0.38 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.88%. The ex-dividend date was Wednesday, September 14th. Rayonier’s dividend payout ratio (DPR) is presently 80.00%.
Several analysts have issued reports on the stock. Buckingham Research downgraded shares of Rayonier from a “buy” rating to a “neutral” rating and set a $29.00 price target on the stock. in a report on Wednesday, September 7th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Rayonier from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Monday, August 8th. Finally, TheStreet raised shares of Rayonier from a “hold” rating to a “buy” rating in a report on Thursday, August 4th. Two investment 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 “Buy” and a consensus price target of $26.75.
In other news, 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 value of $40,455.00. Following the sale, the vice president now owns 6,170 shares in the company, valued at approximately $166,404.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andrew G. Wiltshire bought 4,000 shares of Rayonier stock in a transaction dated Wednesday, September 14th. The stock was purchased at an average price of $25.77 per share, for a total transaction of $103,080.00. Following the purchase, the director now directly 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 insiders.
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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