American Century Companies Inc. lifted its holdings in Rayonier Inc. (NYSE:RYN) by 623.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 83,361 shares of the real estate investment trust’s stock after purchasing an additional 71,843 shares during the quarter. American Century Companies Inc.’s holdings in Rayonier were worth $2,308,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the stock. Clean Yield Group bought a new stake in Rayonier in the fourth quarter worth $31,000. Doyle Wealth Management bought a new stake in Rayonier in the fourth quarter worth $50,000. Pearl River Capital LLC bought a new stake in Rayonier in the fourth quarter worth $81,000. Ipswich Investment Management Co. Inc. bought a new stake in Rayonier in the fourth quarter worth $89,000. Finally, Benjamin F. Edwards & Company Inc. lifted its position in Rayonier by 351.2% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 3,515 shares of the real estate investment trust’s stock worth $97,000 after buying an additional 2,736 shares during the last quarter. 86.83% of the stock is owned by hedge funds and other institutional investors.
RYN has been the subject of several research analyst reports. Seaport Global Securities initiated coverage on Rayonier in a research report on Tuesday, April 2nd. They set a “neutral” rating and a $31.74 target price for the company. Zacks Investment Research downgraded Rayonier from a “hold” rating to a “sell” rating in a research report on Monday, April 1st. BMO Capital Markets upgraded Rayonier from an “underperform” rating to a “market perform” rating and set a $28.98 target price for the company in a research report on Friday, February 8th. Raymond James set a $32.00 target price on Rayonier and gave the stock a “buy” rating in a research report on Tuesday, January 8th. Finally, TheStreet downgraded Rayonier from a “b” rating to a “c+” rating in a research report on Thursday, February 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $30.91.
NYSE:RYN opened at $31.79 on Wednesday. Rayonier Inc. has a twelve month low of $26.30 and a twelve month high of $39.73. The firm has a market cap of $4.14 billion, a PE ratio of 40.24, a price-to-earnings-growth ratio of 12.44 and a beta of 0.69. The company has a quick ratio of 3.02, a current ratio of 3.27 and a debt-to-equity ratio of 0.59.
Rayonier (NYSE:RYN) last released its earnings results on Wednesday, February 6th. The real estate investment trust reported $0.02 earnings per share for the quarter, missing the 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 business 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 posted $0.02 earnings per share. The firm’s revenue for the quarter was down 10.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Rayonier Inc. will post 0.52 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.27 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.08 annualized dividend and a dividend yield of 3.40%. Rayonier’s dividend payout ratio (DPR) is 136.71%.
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 December 31, 2018, Rayonier owned, leased or managed approximately 2.6 million acres of timberlands located in the U.S.
Featured Story: Depreciation
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).
Receive News & Ratings for Rayonier Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rayonier and related companies with MarketBeat.com's FREE daily email newsletter.