Paloma Partners Management Co purchased a new position in Rayonier Inc. (NYSE:RYN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 404,606 shares of the real estate investment trust’s stock, valued at approximately $12,797,000.
Other large investors also recently modified their holdings of the company. Acadian Asset Management LLC bought a new position in shares of Rayonier in the 4th quarter worth $168,000. Advisor Group Inc. increased its holdings in shares of Rayonier by 73.0% in the 4th quarter. Advisor Group Inc. now owns 6,618 shares of the real estate investment trust’s stock worth $210,000 after buying an additional 2,793 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Rayonier by 46.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,001 shares of the real estate investment trust’s stock worth $221,000 after buying an additional 2,229 shares during the last quarter. Gamble Jones Investment Counsel bought a new position in shares of Rayonier in the 4th quarter worth $237,000. Finally, Timber Hill LLC bought a new position in shares of Rayonier in the 3rd quarter worth $246,000. 84.27% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently commented on RYN. Citigroup began coverage on shares of Rayonier in a report on Thursday, March 1st. They issued a “neutral” rating and a $37.00 price target on the stock. Zacks Investment Research lowered shares of Rayonier from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $29.00 price target on shares of Rayonier in a report on Wednesday, November 15th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Rayonier has an average rating of “Hold” and an average target price of $34.00.
Rayonier (NYSE:RYN) last announced its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.11. Rayonier had a net margin of 18.64% and a return on equity of 4.96%. The company had revenue of $186.30 million during the quarter, compared to analysts’ expectations of $165.73 million. During the same quarter in the prior year, the company earned $0.05 EPS. The firm’s revenue was up 22.9% on a year-over-year basis. analysts forecast that Rayonier Inc. will post 0.65 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Friday, March 16th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, March 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.86%. Rayonier’s dividend payout ratio (DPR) is 86.21%.
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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.
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