Bollard Group LLC raised its position in shares of Rayonier Inc. (NYSE:RYN) by 1.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 89,745 shares of the real estate investment trust’s stock after buying an additional 1,545 shares during the period. Bollard Group LLC owned approximately 0.07% of Rayonier worth $2,582,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in RYN. BlackRock Inc. increased its position in shares of Rayonier by 13,910.0% in the first quarter. BlackRock Inc. now owns 11,317,685 shares of the real estate investment trust’s stock worth $320,744,000 after buying an additional 11,236,902 shares in the last quarter. Vanguard Group Inc. increased its position in Rayonier by 5.1% in the first quarter. Vanguard Group Inc. now owns 10,059,697 shares of the real estate investment trust’s stock worth $285,092,000 after buying an additional 490,621 shares during the period. State Street Corp increased its position in Rayonier by 2.1% in the first quarter. State Street Corp now owns 3,264,474 shares of the real estate investment trust’s stock worth $92,518,000 after buying an additional 66,645 shares during the period. Confluence Investment Management LLC increased its position in Rayonier by 7.1% in the second quarter. Confluence Investment Management LLC now owns 2,844,858 shares of the real estate investment trust’s stock worth $81,847,000 after buying an additional 189,668 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Rayonier by 4.6% in the first quarter. Bank of New York Mellon Corp now owns 1,493,104 shares of the real estate investment trust’s stock worth $42,314,000 after buying an additional 65,376 shares during the period. Institutional investors own 82.59% of the company’s stock.
Rayonier Inc. (RYN) opened at 29.38 on Tuesday. The firm has a 50-day moving average price of $28.86 and a 200-day moving average price of $28.44. Rayonier Inc. has a 12-month low of $25.24 and a 12-month high of $29.86. The company has a market cap of $3.78 billion, a P/E ratio of 24.75 and a beta of 0.35.
Rayonier (NYSE:RYN) last posted its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.20 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.09. Rayonier had a return on equity of 5.03% and a net margin of 19.10%. The business had revenue of $194.70 million for the quarter, compared to analysts’ expectations of $151.50 million. During the same quarter in the previous year, the firm earned $0.07 earnings per share. The business’s revenue was up 47.4% compared to the same quarter last year. On average, analysts forecast that Rayonier Inc. will post $0.40 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 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 3.40%. The ex-dividend date of this dividend is Thursday, September 14th. Rayonier’s dividend payout ratio is currently 84.75%.
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A number of research firms have issued reports on RYN. BMO Capital Markets reiterated a “buy” rating and issued a $31.00 price objective on shares of Rayonier in a report on Wednesday, April 19th. Royal Bank Of Canada reissued a “hold” rating and issued a $28.00 target price on shares of Rayonier in a research note on Monday, July 31st. Zacks Investment Research cut Rayonier from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. BidaskClub cut Rayonier from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, Vertical Research raised Rayonier to a “buy” rating in a research note on Sunday, May 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Rayonier presently has an average rating of “Hold” and an average target price of $30.00.
In related news, Director Andrew G. Wiltshire purchased 6,650 shares of the stock in a transaction that occurred on Wednesday, May 10th. The shares were purchased at an average price of $27.87 per share, with a total value of $185,335.50. Following the completion of the acquisition, the director now directly owns 26,006 shares in the company, valued at approximately $724,787.22. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.61% of the company’s stock.
Rayonier Company Profile
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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