Montgomery Investment Management Inc. reduced its position in shares of Rayonier Inc. (NYSE:RYN) by 15.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,189 shares of the real estate investment trust’s stock after selling 19,439 shares during the period. Rayonier comprises 1.4% of Montgomery Investment Management Inc.’s holdings, making the stock its 20th largest position. Montgomery Investment Management Inc. owned approximately 0.08% of Rayonier worth $3,055,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in RYN. BlackRock Inc. raised its stake in shares of Rayonier by 13,910.0% in the first quarter. BlackRock Inc. now owns 11,317,685 shares of the real estate investment trust’s stock valued at $320,744,000 after buying an additional 11,236,902 shares during the last quarter. Capital One National Association acquired a new stake in shares of Rayonier during the first quarter valued at approximately $369,000. Sei Investments Co. raised its stake in shares of Rayonier by 418.0% in the first quarter. Sei Investments Co. now owns 24,181 shares of the real estate investment trust’s stock valued at $685,000 after buying an additional 19,513 shares during the last quarter. Koch Industries Inc. acquired a new stake in shares of Rayonier during the first quarter valued at approximately $226,000. Finally, Highbridge Capital Management LLC acquired a new stake in shares of Rayonier during the first quarter valued at approximately $4,534,000. Hedge funds and other institutional investors own 82.12% of the company’s stock.
Shares of Rayonier Inc. (RYN) traded down 0.25% during trading on Friday, reaching $27.80. The company’s stock had a trading volume of 400,867 shares. Rayonier Inc. has a one year low of $25.24 and a one year high of $29.86. The firm’s 50-day moving average price is $28.79 and its 200-day moving average price is $28.53. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of 23.42 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. Rayonier had a net margin of 19.10% and a return on equity of 5.03%. The company had revenue of $194.70 million during the quarter, compared to analysts’ expectations of $151.50 million. During the same quarter in the previous year, the company earned $0.07 earnings per share. The firm’s revenue for the quarter was up 47.4% on a year-over-year basis. On average, equities analysts anticipate that Rayonier Inc. will post $0.43 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.00 annualized dividend and a dividend yield of 3.60%. Rayonier’s dividend payout ratio (DPR) is 84.75%.
A number of research firms recently weighed in on RYN. BMO Capital Markets downgraded Rayonier from an “outperform” rating to a “market perform” rating and set a $31.00 price target on the stock. in a research note on Monday, August 14th. Zacks Investment Research raised Rayonier from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $28.00 price target on shares of Rayonier in a research note on Monday, July 31st. BidaskClub downgraded Rayonier from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, Vertical Research raised Rayonier to a “buy” rating in a research note on Sunday, May 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price 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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