Renaissance Technologies LLC grew its holdings in Rayonier Inc. (NYSE:RYN) by 7.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,445,000 shares of the real estate investment trust’s stock after acquiring an additional 96,673 shares during the period. Renaissance Technologies LLC owned about 1.12% of Rayonier worth $45,705,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also bought and sold shares of the company. Acadian Asset Management LLC acquired a new position in shares of Rayonier in the fourth quarter worth $168,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Rayonier by 46.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,001 shares of the real estate investment trust’s stock worth $221,000 after acquiring an additional 2,229 shares in the last quarter. Gamble Jones Investment Counsel acquired a new position in shares of Rayonier in the fourth quarter worth $237,000. Parametrica Management Ltd acquired a new position in shares of Rayonier in the fourth quarter worth $252,000. Finally, Timber Hill LLC acquired a new position in shares of Rayonier in the third quarter worth $246,000. Institutional investors and hedge funds own 84.27% of the company’s stock.
Rayonier Inc. (NYSE:RYN) opened at $35.56 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.33 and a current ratio of 2.68. The company has a market cap of $4,546.35, a price-to-earnings ratio of 30.66, a P/E/G ratio of 10.80 and a beta of 0.35. Rayonier Inc. has a 12 month low of $26.84 and a 12 month high of $35.94.
Rayonier (NYSE:RYN) last issued its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.11. The firm had revenue of $186.30 million during the quarter, compared to the consensus estimate of $165.73 million. Rayonier had a net margin of 18.64% and a return on equity of 4.96%. The company’s revenue was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.05 earnings per share. analysts expect that Rayonier Inc. will post 0.65 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Friday, March 16th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, March 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.81%. Rayonier’s payout ratio is currently 86.21%.
RYN has been the subject of several research reports. Royal Bank of Canada restated a “hold” rating and issued a $30.00 price target on shares of Rayonier in a research note on Friday, January 12th. Zacks Investment Research upgraded shares of Rayonier from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a research note on Tuesday, February 20th. Finally, Citigroup initiated coverage on shares of Rayonier in a research note on Thursday, March 1st. They issued a “neutral” rating and a $37.00 price target for the company. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Rayonier currently has an average rating of “Hold” and an average target price of $34.25.
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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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