Schwab Charles Investment Management Inc. increased its holdings in Rayonier Inc. (NYSE:RYN) by 7.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 865,219 shares of the real estate investment trust’s stock after acquiring an additional 62,728 shares during the period. Schwab Charles Investment Management Inc. owned about 0.67% of Rayonier worth $24,997,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Rayonier by 6.5% during the 2nd quarter. BlackRock Inc. now owns 12,050,093 shares of the real estate investment trust’s stock worth $346,681,000 after purchasing an additional 732,408 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Rayonier by 5.5% during the 2nd quarter. Vanguard Group Inc. now owns 10,611,621 shares of the real estate investment trust’s stock worth $305,296,000 after purchasing an additional 551,924 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in shares of Rayonier by 0.9% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 4,727,707 shares of the real estate investment trust’s stock worth $136,583,000 after purchasing an additional 41,077 shares in the last quarter. State Street Corp raised its stake in shares of Rayonier by 5.7% during the 2nd quarter. State Street Corp now owns 3,451,153 shares of the real estate investment trust’s stock worth $99,289,000 after purchasing an additional 186,679 shares in the last quarter. Finally, Pictet Asset Management Ltd. raised its stake in shares of Rayonier by 25.7% during the 3rd quarter. Pictet Asset Management Ltd. now owns 2,205,523 shares of the real estate investment trust’s stock worth $63,717,000 after purchasing an additional 451,033 shares in the last quarter. 83.39% of the stock is owned by hedge funds and other institutional investors.
Shares of Rayonier Inc. (RYN) traded up $0.29 during midday trading on Friday, hitting $31.24. The stock had a trading volume of 419,500 shares, compared to its average volume of 535,610. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.45 and a current ratio of 1.74. The firm has a market cap of $4,022.67, a price-to-earnings ratio of 63.67, a price-to-earnings-growth ratio of 11.61 and a beta of 0.39. Rayonier Inc. has a fifty-two week low of $26.15 and a fifty-two week high of $31.79.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend is Thursday, December 14th. Rayonier’s dividend payout ratio is 95.24%.
A number of equities research analysts have recently weighed in on RYN shares. Zacks Investment Research raised Rayonier from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research note on Monday, August 21st. BMO Capital Markets reaffirmed a “hold” rating and set a $31.00 price target on shares of Rayonier in a research note on Thursday, November 2nd. Royal Bank of Canada reaffirmed a “hold” rating and set a $29.00 price target on shares of Rayonier in a research note on Sunday, October 8th. Finally, BidaskClub raised Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Four analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Rayonier currently has an average rating of “Buy” and a consensus price target of $31.25.
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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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