Teachers Retirement System of The State of Kentucky increased its stake in Rayonier Inc. (NYSE:RYN) by 22.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,890 shares of the real estate investment trust’s stock after buying an additional 5,100 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Rayonier were worth $806,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of RYN. Advisor Group Inc. lifted its holdings in Rayonier by 22.0% in the second quarter. Advisor Group Inc. now owns 3,566 shares of the real estate investment trust’s stock worth $103,000 after purchasing an additional 642 shares during the period. Riverhead Capital Management LLC lifted its holdings in Rayonier by 88.0% in the second quarter. Riverhead Capital Management LLC now owns 4,324 shares of the real estate investment trust’s stock worth $124,000 after purchasing an additional 2,024 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Rayonier by 7.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,772 shares of the real estate investment trust’s stock worth $137,000 after purchasing an additional 351 shares during the period. Creative Planning raised its position in Rayonier by 36.2% in the second quarter. Creative Planning now owns 5,326 shares of the real estate investment trust’s stock worth $153,000 after acquiring an additional 1,417 shares in the last quarter. Finally, Bluestein R H & Co. bought a new stake in Rayonier in the second quarter worth about $201,000. Institutional investors and hedge funds own 83.39% of the company’s stock.
Several brokerages have commented on RYN. Royal Bank Of Canada reiterated a “hold” rating and issued a $29.00 price target on shares of Rayonier in a research report on Wednesday, November 15th. Zacks Investment Research upgraded shares of Rayonier from a “hold” rating to a “strong-buy” rating and set a $35.00 price target on the stock in a research report on Monday, November 6th. BMO Capital Markets reiterated a “hold” rating and issued a $31.00 price target on shares of Rayonier in a research report on Thursday, November 2nd. Finally, BidaskClub upgraded Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $31.25.
Shares of Rayonier Inc. (RYN) remained flat at $$31.21 on Monday. 326,600 shares of the stock traded hands, compared to its average volume of 538,293. The company has a market cap of $4,023.96, a price-to-earnings ratio of 63.69, a P/E/G ratio of 11.61 and a beta of 0.39. Rayonier Inc. has a twelve month low of $26.15 and a twelve month high of $31.79. The company has a current ratio of 1.74, a quick ratio of 1.45 and a debt-to-equity ratio of 0.62.
Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.14. The business had revenue of $177.90 million during the quarter, compared to analysts’ expectations of $144.06 million. Rayonier had a return on equity of 3.89% and a net margin of 17.06%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.33 EPS. analysts anticipate that Rayonier Inc. will post 0.54 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a $0.25 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.00 annualized dividend and a dividend yield of 3.20%. Rayonier’s payout ratio is 95.24%.
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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