Rayonier Inc. (RYN) Shares Bought by Confluence Investment Management LLC

Confluence Investment Management LLC boosted its position in shares of Rayonier Inc. (NYSE:RYN) by 2.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,029,777 shares of the real estate investment trust’s stock after purchasing an additional 80,466 shares during the quarter. Rayonier makes up 1.7% of Confluence Investment Management LLC’s portfolio, making the stock its 19th biggest holding. Confluence Investment Management LLC’s holdings in Rayonier were worth $95,832,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Public Employees Retirement System of Ohio boosted its position in Rayonier by 59.0% during the third quarter. Public Employees Retirement System of Ohio now owns 166,332 shares of the real estate investment trust’s stock worth $4,805,000 after purchasing an additional 61,739 shares in the last quarter. Sterling Capital Management LLC boosted its position in Rayonier by 10.3% during the third quarter. Sterling Capital Management LLC now owns 63,204 shares of the real estate investment trust’s stock worth $1,826,000 after purchasing an additional 5,925 shares in the last quarter. California Public Employees Retirement System boosted its position in Rayonier by 3.5% during the third quarter. California Public Employees Retirement System now owns 438,580 shares of the real estate investment trust’s stock worth $12,671,000 after purchasing an additional 14,980 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in Rayonier by 10.8% during the third quarter. Janney Montgomery Scott LLC now owns 23,078 shares of the real estate investment trust’s stock worth $667,000 after purchasing an additional 2,243 shares in the last quarter. Finally, Invictus RG purchased a new stake in Rayonier during the third quarter worth $418,000. Institutional investors own 83.38% of the company’s stock.

Shares of Rayonier Inc. (NYSE:RYN) traded up $0.09 during trading hours on Monday, hitting $31.98. The stock had a trading volume of 574,300 shares, compared to its average volume of 631,140. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.74 and a quick ratio of 1.45. Rayonier Inc. has a twelve month low of $26.84 and a twelve month high of $32.31. The stock has a market capitalization of $4,111.63, a P/E ratio of 30.46, a P/E/G ratio of 11.76 and a beta of 0.39.

Rayonier (NYSE:RYN) last issued its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.14. Rayonier had a return on equity of 3.89% and a net margin of 17.06%. The business had revenue of $177.90 million for the quarter, compared to the consensus estimate of $144.06 million. During the same period in the prior year, the business earned $0.33 earnings per share. The business’s revenue was up 3.8% on a year-over-year basis. sell-side analysts forecast that Rayonier Inc. will post 0.54 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were given a $0.25 dividend. The ex-dividend date was Thursday, December 14th. This represents a $1.00 annualized dividend and a dividend yield of 3.13%. Rayonier’s dividend payout ratio is currently 95.24%.

RYN has been the topic of several recent research reports. BMO Capital Markets restated a “hold” rating and issued a $31.00 price objective on shares of Rayonier in a research report on Friday, September 29th. Zacks Investment Research upgraded Rayonier from a “hold” rating to a “strong-buy” rating and set a $35.00 price objective on the stock in a research report on Monday, November 6th. Finally, Royal Bank of Canada restated a “hold” rating and issued a $29.00 price objective on shares of Rayonier in a research report on Wednesday, November 15th. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Rayonier currently has an average rating of “Buy” and an average target price of $31.25.

ILLEGAL ACTIVITY WARNING: This story was originally published by Community Financial News and is owned by of Community Financial News. If you are viewing this story on another domain, it was illegally copied and republished in violation of US and international copyright and trademark law. The legal version of this story can be accessed at https://www.com-unik.info/2018/01/08/rayonier-inc-ryn-shares-bought-by-confluence-investment-management-llc.html.

About Rayonier

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.

Want to see what other hedge funds are holding RYN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rayonier Inc. (NYSE:RYN).

Institutional Ownership by Quarter for Rayonier (NYSE:RYN)

What are top analysts saying about Rayonier? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Rayonier and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit