Principal Financial Group Inc. boosted its position in shares of Rayonier Inc. (NYSE:RYN) by 12.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 460,297 shares of the real estate investment trust’s stock after buying an additional 50,311 shares during the period. Principal Financial Group Inc. owned approximately 0.38% of Rayonier worth $12,077,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in RYN. Integrated Investment Consultants LLC bought a new stake in Rayonier during the second quarter valued at about $100,000. LS Investment Advisors LLC raised its stake in Rayonier by 72.1% in the second quarter. LS Investment Advisors LLC now owns 7,345 shares of the real estate investment trust’s stock valued at $193,000 after buying an additional 3,077 shares during the last quarter. Boston Private Wealth LLC bought a new stake in Rayonier during the second quarter valued at about $202,000. Hancock Holding Co. bought a new stake in Rayonier during the second quarter valued at about $215,000. Finally, Timber Hill LLC bought a new stake in Rayonier during the second quarter valued at about $249,000. 84.91% of the stock is owned by institutional investors.
Shares of Rayonier Inc. (NYSE:RYN) opened at 25.46 on Wednesday. The stock has a market capitalization of $3.12 billion, a P/E ratio of 20.42 and a beta of 0.55. The stock has a 50 day moving average price of $26.70 and a 200 day moving average price of $26.03. Rayonier Inc. has a one year low of $17.85 and a one year high of $28.16.
Rayonier (NYSE:RYN) last announced its earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.04. Rayonier had a net margin of 22.52% and a return on equity of 4.06%. The firm had revenue of $132.10 million for the quarter, compared to analyst estimates of $116.36 million. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. Equities analysts forecast that Rayonier Inc. will post $0.38 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were issued a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, September 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.93%. Rayonier’s dividend payout ratio (DPR) is presently 80.00%.
Several research firms have recently issued reports on RYN. Zacks Investment Research raised Rayonier from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Monday, August 8th. Buckingham Research lowered Rayonier from a “buy” rating to a “neutral” rating and set a $29.00 price objective for the company. in a research note on Wednesday, September 7th. They noted that the move was a valuation call. Finally, TheStreet raised Rayonier from a “hold” rating to a “buy” rating in a research note on Thursday, August 4th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $26.75.
In related news, VP Shelby L. Pyatt sold 1,500 shares of the business’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $26.97, for a total transaction of $40,455.00. Following the completion of the sale, the vice president now owns 6,170 shares of the company’s stock, valued at approximately $166,404.90. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Andrew G. Wiltshire bought 4,000 shares of Rayonier stock in a transaction on Thursday, September 15th. The shares were purchased at an average cost of $25.81 per share, with a total value of $103,240.00. Following the completion of the purchase, the director now directly owns 15,356 shares in the company, valued at $396,338.36. The disclosure for this purchase can be found here. 0.58% of the stock is currently owned by company insiders.
Rayonier Inc is a timberland real estate investment trust (REIT) with assets located in 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. Its 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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