Retirement Systems of Alabama decreased its position in shares of Rayonier Inc. (NYSE:RYN) by 0.1% during the second quarter, Holdings Channel reports. The fund owned 158,062 shares of the real estate investment trust’s stock after selling 199 shares during the period. Retirement Systems of Alabama’s holdings in Rayonier were worth $4,148,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Commonwealth Equity Services Inc increased its stake in Rayonier by 0.7% in the first quarter. Commonwealth Equity Services Inc now owns 18,617 shares of the real estate investment trust’s stock worth $459,000 after buying an additional 136 shares during the last quarter. Bollard Group LLC increased its stake in Rayonier by 1.0% in the second quarter. Bollard Group LLC now owns 86,722 shares of the real estate investment trust’s stock worth $2,276,000 after buying an additional 833 shares during the last quarter. Hartford Financial Management Inc. increased its stake in 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 worth $261,000 after buying an additional 1,250 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its stake in Rayonier by 2.1% in the first quarter. Metropolitan Life Insurance Co. NY now owns 111,355 shares of the real estate investment trust’s stock worth $2,748,000 after buying an additional 2,279 shares during the last quarter. Finally, Stelac Advisory Services LLC increased its stake in 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 worth $281,000 after buying an additional 2,791 shares during the last quarter. 84.91% of the stock is currently owned by institutional investors.
Shares of Rayonier Inc. (NYSE:RYN) traded up 0.43% on Friday, hitting $25.69. The stock had a trading volume of 248,547 shares. Rayonier Inc. has a 12-month low of $17.85 and a 12-month high of $28.16. The firm has a market capitalization of $3.15 billion, a P/E ratio of 20.60 and a beta of 0.55. The company has a 50 day moving average of $26.55 and a 200-day moving average of $26.04.
Rayonier (NYSE:RYN) last issued its earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.04. The company had revenue of $132.10 million for the quarter, compared to analysts’ expectations of $116.36 million. Rayonier had a net margin of 22.52% and a return on equity of 4.06%. The firm’s revenue was up 14.1% on a year-over-year basis. Equities analysts predict that Rayonier Inc. will post $0.38 EPS for the current fiscal year.
The business 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. The ex-dividend date was Wednesday, September 14th. This represents a $1.00 annualized dividend and a yield of 3.89%. Rayonier’s dividend payout ratio is currently 80.00%.
A number of equities research analysts have weighed in on the company. Buckingham Research downgraded Rayonier from a “buy” rating to a “neutral” rating and set a $29.00 price objective on the stock. in a report on Wednesday, September 7th. They noted that the move was a valuation call. Zacks Investment Research raised Rayonier from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Monday, August 8th. Finally, TheStreet raised Rayonier from a “hold” rating to a “buy” rating in a report on Thursday, August 4th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $26.75.
In related news, Director Andrew G. Wiltshire purchased 4,000 shares of the stock in a transaction on Thursday, September 15th. The shares were purchased at an average cost of $25.81 per share, with a total value of $103,240.00. Following the acquisition, the director now directly owns 15,356 shares in the company, valued at $396,338.36. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Shelby L. Pyatt sold 1,500 shares of the stock in a transaction dated 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 directly 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 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.
Want to see what other hedge funds are holding RYN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rayonier Inc. (NYSE:RYN).
Receive News & Ratings for Rayonier Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rayonier Inc. and related companies with MarketBeat.com's FREE daily email newsletter.