Horizon Investments LLC Decreases Holdings in Rayonier Inc. $RYN

Horizon Investments LLC trimmed its stake in shares of Rayonier Inc. (NYSE:RYN) by 48.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 37,314 shares of the real estate investment trust’s stock after selling 34,452 shares during the quarter. Horizon Investments LLC’s holdings in Rayonier were worth $808,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hartford Financial Management Inc. bought a new position in Rayonier during the 3rd quarter worth approximately $31,000. Parallel Advisors LLC grew its position in Rayonier by 77.9% during the 3rd quarter. Parallel Advisors LLC now owns 2,451 shares of the real estate investment trust’s stock worth $65,000 after acquiring an additional 1,073 shares during the last quarter. Allworth Financial LP grew its position in Rayonier by 134.8% during the 3rd quarter. Allworth Financial LP now owns 2,858 shares of the real estate investment trust’s stock worth $76,000 after acquiring an additional 1,641 shares during the last quarter. Blue Trust Inc. grew its position in Rayonier by 87.4% during the 4th quarter. Blue Trust Inc. now owns 3,585 shares of the real estate investment trust’s stock worth $78,000 after acquiring an additional 1,672 shares during the last quarter. Finally, Optiver Holding B.V. bought a new position in Rayonier during the 3rd quarter worth approximately $86,000. 89.12% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wall Street Zen upgraded Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, April 18th. Royal Bank Of Canada set a $24.00 price objective on Rayonier in a research report on Thursday, April 16th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Rayonier in a research report on Friday, March 27th. Finally, Raymond James Financial upgraded Rayonier from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the stock from $26.00 to $28.00 in a research report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $25.50.

Rayonier Price Performance

Shares of RYN stock opened at $20.45 on Friday. The firm has a market cap of $6.18 billion, a P/E ratio of 6.77 and a beta of 0.90. Rayonier Inc. has a fifty-two week low of $19.49 and a fifty-two week high of $27.33. The business’s 50 day moving average price is $20.95 and its 200-day moving average price is $21.96. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.23 and a current ratio of 3.26.

Rayonier (NYSE:RYN) last issued its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The firm had revenue of $276.80 million for the quarter, compared to analyst estimates of $280.92 million. Rayonier had a return on equity of 4.83% and a net margin of 68.61%.The business’s quarterly revenue was up 233.9% compared to the same quarter last year. During the same period last year, the company earned ($0.02) EPS. On average, equities research analysts anticipate that Rayonier Inc. will post 0.42 earnings per share for the current year.

Rayonier Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date was Tuesday, March 17th. Rayonier’s dividend payout ratio (DPR) is presently 34.10%.

Insider Buying and Selling

In other news, CFO Wayne Wasechek sold 2,920 shares of the firm’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $21.17, for a total value of $61,816.40. Following the completion of the transaction, the chief financial officer owned 115,530 shares in the company, valued at $2,445,770.10. This trade represents a 2.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Chairman Eric J. Cremers sold 169,200 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $21.44, for a total value of $3,627,648.00. Following the completion of the transaction, the chairman owned 709,583 shares of the company’s stock, valued at approximately $15,213,459.52. The trade was a 19.25% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.85% of the company’s stock.

Rayonier Company Profile

Rayonier, Inc (NYSE: RYN) is a publicly traded real estate investment trust specializing in timberland ownership and management. The company’s core business revolves around sustainably growing, harvesting, and marketing timber and timber-related products. Rayonier’s timberland portfolio encompasses approximately 2.7 million acres across the United States and New Zealand, focusing on softwood and hardwood fiber for use in paper, packaging and building materials.

Rayonier operates through two primary segments: Timber and Real Estate Solutions.