BlackRock Inc. boosted its position in Rayonier Inc. (NYSE:RYN) by 4.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,594,331 shares of the real estate investment trust’s stock after purchasing an additional 580,100 shares during the quarter. BlackRock Inc. owned about 10.50% of Rayonier worth $525,964,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Interactive Financial Advisors raised its holdings in Rayonier by 114.9% in the 2nd quarter. Interactive Financial Advisors now owns 3,204 shares of the real estate investment trust’s stock valued at $124,000 after acquiring an additional 1,713 shares in the last quarter. Ontario Teachers Pension Plan Board raised its holdings in shares of Rayonier by 2.0% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 86,623 shares of the real estate investment trust’s stock worth $3,047,000 after buying an additional 1,723 shares in the last quarter. American International Group Inc. raised its holdings in shares of Rayonier by 0.8% during the 2nd quarter. American International Group Inc. now owns 260,413 shares of the real estate investment trust’s stock worth $10,075,000 after buying an additional 2,186 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Rayonier by 3.8% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 61,172 shares of the real estate investment trust’s stock worth $2,367,000 after buying an additional 2,260 shares in the last quarter. Finally, Creative Planning raised its holdings in shares of Rayonier by 35.8% during the 2nd quarter. Creative Planning now owns 8,703 shares of the real estate investment trust’s stock worth $337,000 after buying an additional 2,296 shares in the last quarter. 86.17% of the stock is owned by hedge funds and other institutional investors.
Rayonier stock opened at $34.24 on Friday. The company has a quick ratio of 2.14, a current ratio of 2.37 and a debt-to-equity ratio of 0.57. Rayonier Inc. has a 52 week low of $27.91 and a 52 week high of $39.73. The firm has a market cap of $4.47 billion, a PE ratio of 52.62, a price-to-earnings-growth ratio of 10.05 and a beta of 0.16.
Rayonier (NYSE:RYN) last posted its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.10. Rayonier had a return on equity of 7.47% and a net margin of 19.12%. The company had revenue of $245.90 million during the quarter, compared to analysts’ expectations of $193.04 million. During the same quarter in the previous year, the firm earned $0.20 EPS. Rayonier’s revenue was up 22.3% on a year-over-year basis. research analysts forecast that Rayonier Inc. will post 0.69 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be issued a dividend of $0.27 per share. The ex-dividend date is Thursday, September 13th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.15%. Rayonier’s dividend payout ratio (DPR) is currently 166.15%.
RYN has been the subject of a number of research analyst reports. BMO Capital Markets cut Rayonier from a “market perform” rating to an “underperform” rating in a report on Wednesday, July 18th. Zacks Investment Research cut Rayonier from a “buy” rating to a “hold” rating in a report on Monday, July 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Rayonier has an average rating of “Hold” and an average target price of $35.40.
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 March 31, 2018, Rayonier owned, leased or managed approximately 2.6 million acres of timberlands located in the U.S.
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