Meadow Creek Investment Management LLC cut its stake in Rayonier Inc. (NYSE:RYN) by 28.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,276 shares of the real estate investment trust’s stock after selling 20,440 shares during the period. Meadow Creek Investment Management LLC’s holdings in Rayonier were worth $1,584,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pearl River Capital LLC bought a new stake in shares of Rayonier during the second quarter worth approximately $25,000. Personal Wealth Partners bought a new stake in shares of Rayonier during the second quarter worth approximately $33,000. FMR LLC raised its stake in shares of Rayonier by 119.5% during the first quarter. FMR LLC now owns 1,473 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 802 shares during the last quarter. Princeton Global Asset Management LLC bought a new stake in shares of Rayonier during the first quarter worth approximately $72,000. Finally, Stelac Advisory Services LLC raised its stake in shares of Rayonier by 34.5% during the first quarter. Stelac Advisory Services LLC now owns 5,196 shares of the real estate investment trust’s stock worth $149,000 after buying an additional 1,332 shares during the last quarter. 85.03% of the stock is owned by institutional investors.
A number of research firms recently weighed in on RYN. Bank of America dropped their price target on shares of Rayonier from $32.00 to $31.00 and set an “underperform” rating for the company in a research note on Friday, August 9th. TheStreet downgraded shares of Rayonier from a “b-” rating to a “c” rating in a research note on Wednesday, August 7th. ValuEngine raised shares of Rayonier from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Zacks Investment Research downgraded shares of Rayonier from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. Finally, BMO Capital Markets dropped their price target on shares of Rayonier from $34.00 to $30.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $31.19.
Rayonier (NYSE:RYN) last issued its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.02. The firm had revenue of $184.80 million during the quarter, compared to analysts’ expectations of $196.11 million. Rayonier had a net margin of 9.28% and a return on equity of 4.18%. The business’s revenue for the quarter was down 24.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.28 earnings per share. Analysts anticipate that Rayonier Inc. will post 0.46 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date of this dividend is Thursday, September 12th. Rayonier’s dividend payout ratio is currently 136.71%.
In other news, Director Andrew G. Wiltshire acquired 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was purchased at an average price of $26.34 per share, for a total transaction of $52,680.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David L. Nunes acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average price of $26.14 per share, with a total value of $261,400.00. Following the acquisition, the chief executive officer now owns 328,428 shares of the company’s stock, valued at approximately $8,585,107.92. The disclosure for this purchase can be found here. 0.47% of the stock is currently owned by insiders.
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 December 31, 2018, Rayonier owned, leased or managed approximately 2.6 million acres of timberlands located in the U.S.
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