Third Avenue Management LLC lifted its stake in shares of Rayonier Inc. (NYSE:RYN) by 0.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,362,470 shares of the real estate investment trust’s stock after acquiring an additional 3,700 shares during the quarter. Rayonier makes up approximately 4.4% of Third Avenue Management LLC’s holdings, making the stock its 6th biggest holding. Third Avenue Management LLC owned about 2.62% of Rayonier worth $97,142,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of RYN. Advisor Group Inc. increased its position in shares of Rayonier by 22.0% during the second quarter. Advisor Group Inc. now owns 3,566 shares of the real estate investment trust’s stock worth $103,000 after acquiring an additional 642 shares during the period. Riverhead Capital Management LLC increased its position in shares of Rayonier by 88.0% during the second quarter. Riverhead Capital Management LLC now owns 4,324 shares of the real estate investment trust’s stock worth $124,000 after acquiring an additional 2,024 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Rayonier by 7.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,772 shares of the real estate investment trust’s stock worth $137,000 after acquiring an additional 351 shares during the period. Enterprise Financial Services Corp purchased a new position in shares of Rayonier during the second quarter worth approximately $144,000. Finally, Creative Planning increased its position in shares of Rayonier by 36.2% during the second quarter. Creative Planning now owns 5,326 shares of the real estate investment trust’s stock worth $153,000 after acquiring an additional 1,417 shares during the period. 82.48% of the stock is currently owned by institutional investors and hedge funds.
Shares of Rayonier Inc. (NYSE RYN) traded down 0.61% during midday trading on Monday, reaching $29.55. 132,487 shares of the company’s stock traded hands. The stock has a market capitalization of $3.80 billion, a P/E ratio of 24.89 and a beta of 0.34. Rayonier Inc. has a 1-year low of $25.85 and a 1-year high of $30.18. The firm’s 50-day moving average price is $29.08 and its 200 day moving average price is $28.66.
Rayonier (NYSE:RYN) last issued its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.09. Rayonier had a net margin of 19.10% and a return on equity of 5.03%. The business had revenue of $194.70 million during the quarter, compared to analysts’ expectations of $151.50 million. During the same quarter in the prior year, the business posted $0.07 EPS. The company’s revenue for the quarter was up 47.4% on a year-over-year basis. On average, equities analysts predict that Rayonier Inc. will post $0.43 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.36%. The ex-dividend date is Thursday, December 14th. Rayonier’s payout ratio is 84.75%.
RYN has been the topic of a number of research reports. Zacks Investment Research lowered shares of Rayonier from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. BidaskClub downgraded shares of Rayonier from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. BMO Capital Markets downgraded shares of Rayonier from an “outperform” rating to a “market perform” rating and set a $31.00 price objective on the stock. in a research note on Monday, August 14th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $29.00 price objective on shares of Rayonier in a research note on Sunday, October 8th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Rayonier has a consensus rating of “Hold” and an average price target of $30.25.
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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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