Morse Asset Management Inc Has $503,000 Stake in Rayonier Inc. (RYN)

Morse Asset Management Inc boosted its position in Rayonier Inc. (NYSE:RYN) by 25.0% during the second quarter, Holdings Channel reports. The institutional investor owned 17,500 shares of the real estate investment trust’s stock after buying an additional 3,500 shares during the period. Morse Asset Management Inc’s holdings in Rayonier were worth $503,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of RYN. IFP Advisors Inc increased its position in Rayonier by 1.8% in the first quarter. IFP Advisors Inc now owns 3,881 shares of the real estate investment trust’s stock worth $110,000 after buying an additional 67 shares in the last quarter. Enterprise Financial Services Corp purchased a new position in Rayonier during the second quarter worth about $144,000. Creative Planning increased its position in Rayonier by 36.2% in the second quarter. Creative Planning now owns 5,326 shares of the real estate investment trust’s stock worth $153,000 after buying an additional 1,417 shares in the last quarter. Independent Portfolio Consultants Inc. purchased a new position in Rayonier during the second quarter worth about $157,000. Finally, Envestnet Asset Management Inc. increased its position in Rayonier by 9.1% in the first quarter. Envestnet Asset Management Inc. now owns 6,256 shares of the real estate investment trust’s stock worth $177,000 after buying an additional 523 shares in the last quarter. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Rayonier Inc. (RYN) opened at 28.89 on Thursday. Rayonier Inc. has a 52 week low of $25.24 and a 52 week high of $29.86. The company has a 50-day moving average price of $28.90 and a 200-day moving average price of $28.51. The company has a market capitalization of $3.71 billion, a PE ratio of 24.34 and a beta of 0.35.

Rayonier (NYSE:RYN) last released its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.20 EPS for the quarter, beating the consensus estimate of $0.11 by $0.09. Rayonier had a return on equity of 5.03% and a net margin of 19.10%. The company had revenue of $194.70 million for the quarter, compared to analysts’ expectations of $151.50 million. During the same period last year, the firm posted $0.07 earnings per share. Rayonier’s revenue was up 47.4% compared to the same quarter last year. Analysts predict that Rayonier Inc. will post $0.41 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date is Thursday, September 14th. Rayonier’s dividend payout ratio is 84.75%.

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A number of equities analysts have issued reports on RYN shares. BMO Capital Markets reaffirmed a “buy” rating and set a $31.00 price objective on shares of Rayonier in a report on Wednesday, April 19th. Zacks Investment Research raised shares of Rayonier from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a report on Monday, April 17th. Vertical Research upgraded Rayonier to a “buy” rating in a research note on Sunday, May 28th. Royal Bank Of Canada reiterated a “hold” rating and set a $28.00 target price on shares of Rayonier in a research note on Monday, July 31st. Finally, BidaskClub cut Rayonier from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $30.00.

About Rayonier

Rayonier Inc is a timberland real estate investment trust with assets located in some of the 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. The 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).

Institutional Ownership by Quarter for Rayonier (NYSE:RYN)

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