Nisa Investment Advisors LLC raised its position in Rayonier Inc. (NYSE:RYN) by 19.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 104,997 shares of the real estate investment trust’s stock after acquiring an additional 16,880 shares during the quarter. Nisa Investment Advisors LLC owned approximately 0.08% of Rayonier worth $2,603,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in RYN. Norges Bank purchased a new position in shares of Rayonier during the fourth quarter valued at about $60,983,000. Impax Asset Management Group plc raised its holdings in shares of Rayonier by 21.3% during the first quarter. Impax Asset Management Group plc now owns 5,359,275 shares of the real estate investment trust’s stock valued at $125,406,000 after purchasing an additional 941,382 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Rayonier during the first quarter valued at approximately $19,517,000. JPMorgan Chase & Co. increased its stake in Rayonier by 8.7% in the 1st quarter. JPMorgan Chase & Co. now owns 9,661,322 shares of the real estate investment trust’s stock worth $227,525,000 after buying an additional 774,802 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of Rayonier by 129.0% during the first quarter. Legal & General Group Plc now owns 1,162,634 shares of the real estate investment trust’s stock valued at $27,380,000 after buying an additional 654,978 shares during the last quarter. Hedge funds and other institutional investors own 88.52% of the company’s stock.
A number of research analysts recently weighed in on the stock. Raymond James raised their target price on shares of Rayonier from $26.00 to $29.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Royal Bank of Canada restated a “hold” rating and issued a $25.00 price objective on shares of Rayonier in a report on Thursday, April 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $29.50.
Shares of Rayonier stock opened at $27.78 on Friday. The business has a 50-day moving average of $25.50 and a 200 day moving average of $25.74. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.73 and a quick ratio of 2.54. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of 60.39 and a beta of 0.89. Rayonier Inc. has a 12 month low of $15.96 and a 12 month high of $33.10.
Rayonier (NYSE:RYN) last issued its earnings results on Wednesday, April 29th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03). The business had revenue of $259.10 million for the quarter, compared to analyst estimates of $166.06 million. Rayonier had a return on equity of 2.25% and a net margin of 7.74%. Rayonier’s revenue was up 35.3% on a year-over-year basis. During the same period last year, the business posted $0.19 EPS. Equities research analysts anticipate that Rayonier Inc. will post 0.13 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 3.89%. The ex-dividend date is Tuesday, September 15th. Rayonier’s dividend payout ratio (DPR) is 234.78%.
Rayonier Company Profile
Rayonier is a leading timberland real estate investment trust with assets located in some of the most productive softwood timber growing regions in the United States and New Zealand. As of December 31, 2018, Rayonier owned, leased or managed approximately 2.6 million acres of timberlands located in the U.S.
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