Xact Kapitalforvaltning AB boosted its holdings in shares of Rayonier Inc. (NYSE:RYN) by 8.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,239 shares of the real estate investment trust’s stock after acquiring an additional 1,600 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in Rayonier were worth $588,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Renaissance Technologies LLC increased its holdings in shares of Rayonier by 31.6% in the 3rd quarter. Renaissance Technologies LLC now owns 3,119,300 shares of the real estate investment trust’s stock valued at $105,464,000 after acquiring an additional 748,900 shares during the period. American International Group Inc. increased its stake in shares of Rayonier by 1.1% during the 3rd quarter. American International Group Inc. now owns 263,156 shares of the real estate investment trust’s stock valued at $8,897,000 after acquiring an additional 2,743 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of Rayonier by 1.9% during the 4th quarter. State of Alaska Department of Revenue now owns 56,016 shares of the real estate investment trust’s stock valued at $1,550,000 after acquiring an additional 1,039 shares during the last quarter. Zeke Capital Advisors LLC acquired a new stake in Rayonier during the 3rd quarter worth approximately $551,000. Finally, Capital Fund Management S.A. acquired a new stake in Rayonier during the 3rd quarter worth approximately $211,000. Hedge funds and other institutional investors own 85.24% of the company’s stock.
Several brokerages recently issued reports on RYN. Raymond James set a $32.00 price objective on Rayonier and gave the stock a “buy” rating in a research note on Tuesday, January 8th. ValuEngine lowered Rayonier from a “buy” rating to a “hold” rating in a research report on Tuesday, November 6th. BMO Capital Markets upgraded Rayonier from an “underperform” rating to a “market perform” rating and set a $28.98 price objective for the company in a research report on Friday, February 8th. TheStreet downgraded Rayonier from a “b” rating to a “c+” rating in a research note on Thursday, February 7th. Finally, Zacks Investment Research raised Rayonier from a “sell” rating to a “hold” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Rayonier currently has an average rating of “Hold” and an average price target of $34.25.
Rayonier (NYSE:RYN) last posted its quarterly earnings data on Wednesday, February 6th. The real estate investment trust reported $0.02 EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.01). Rayonier had a return on equity of 6.01% and a net margin of 12.52%. The company had revenue of $166.10 million for the quarter, compared to the consensus estimate of $157.34 million. During the same quarter last year, the business earned $0.02 EPS. Rayonier’s revenue was down 10.8% on a year-over-year basis. Equities research analysts expect that Rayonier Inc. will post 0.61 EPS for the current year.
Rayonier Company Profile
Rayonier is a leading timberland real estate investment trust with assets located in some of the most productive softwood timber growing regions in the United States and New Zealand. As of September 30, 2018, Rayonier owned, leased or managed approximately 2.6 million acres of timberlands located in the U.S.
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