US Bancorp DE reduced its position in Rayonier Inc. (NYSE:RYN) by 9.9% during the second quarter, Holdings Channel reports. The firm owned 15,205 shares of the real estate investment trust’s stock after selling 1,672 shares during the period. US Bancorp DE’s holdings in Rayonier were worth $437,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in RYN. IFP Advisors Inc boosted its stake 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 during the period. Creative Planning boosted its stake 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 during the period. Independent Portfolio Consultants Inc. purchased a new stake in Rayonier during the second quarter worth $157,000. Envestnet Asset Management Inc. boosted its stake 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 during the period. Finally, Washington Trust Bank boosted its stake in Rayonier by 2,490.8% in the first quarter. Washington Trust Bank now owns 7,021 shares of the real estate investment trust’s stock worth $199,000 after buying an additional 6,750 shares during the period. 82.12% of the stock is currently owned by institutional investors and hedge funds.
Rayonier Inc. (RYN) traded down 0.14% during trading on Friday, reaching $27.83. 94,691 shares of the company’s stock traded hands. Rayonier Inc. has a 12 month low of $25.24 and a 12 month high of $29.86. The company has a market capitalization of $3.58 billion, a price-to-earnings ratio of 23.45 and a beta of 0.35. The firm’s 50 day moving average is $28.81 and its 200-day moving average is $28.53.
Rayonier (NYSE:RYN) last issued its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.09. The business had revenue of $194.70 million for the quarter, compared to the consensus estimate of $151.50 million. Rayonier had a net margin of 19.10% and a return on equity of 5.03%. The firm’s quarterly revenue was up 47.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.07 EPS. Analysts expect that Rayonier Inc. will post $0.43 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.00 annualized dividend and a yield of 3.59%. Rayonier’s dividend payout ratio (DPR) is 84.75%.
A number of research firms recently weighed in on RYN. BMO Capital Markets cut shares of Rayonier from an “outperform” rating to a “market perform” rating and set a $31.00 price objective on the stock. in a report on Monday. Zacks Investment Research raised shares of Rayonier from a “sell” rating to a “hold” rating in a report on Monday, August 7th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $28.00 price objective on shares of Rayonier in a report on Monday, July 31st. BidaskClub cut shares of Rayonier from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, Vertical Research raised shares of Rayonier to a “buy” rating in a research note on Sunday, May 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $30.00.
Rayonier Company Profile
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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