First Trust Advisors LP lowered its stake in shares of Rayonier Inc. (NYSE:RYN) by 14.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 54,734 shares of the real estate investment trust’s stock after selling 9,298 shares during the period. First Trust Advisors LP’s holdings in Rayonier were worth $1,436,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its position in Rayonier by 26.9% in the first quarter. Renaissance Technologies LLC now owns 1,393,600 shares of the real estate investment trust’s stock valued at $34,394,000 after buying an additional 295,200 shares during the last quarter. HBK Investments L P bought a new position in Rayonier during the first quarter valued at $1,176,000. Confluence Investment Management LLC boosted its position in Rayonier by 10.0% in the second quarter. Confluence Investment Management LLC now owns 2,044,349 shares of the real estate investment trust’s stock valued at $53,644,000 after buying an additional 185,498 shares during the last quarter. Stelac Advisory Services LLC boosted its position in Rayonier by 30.3% in the first quarter. Stelac Advisory Services LLC now owns 12,006 shares of the real estate investment trust’s stock valued at $281,000 after buying an additional 2,791 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in Rayonier by 26.2% in the first quarter. Canada Pension Plan Investment Board now owns 13,500 shares of the real estate investment trust’s stock valued at $333,000 after buying an additional 2,800 shares during the last quarter. 84.91% of the stock is owned by hedge funds and other institutional investors.
Shares of Rayonier Inc. (NYSE:RYN) traded up 1.039% during mid-day trading on Friday, reaching $26.735. 154,854 shares of the company traded hands. The firm has a 50-day moving average price of $27.00 and a 200 day moving average price of $25.87. Rayonier Inc. has a 52 week low of $17.85 and a 52 week high of $28.16. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of 21.439 and a beta of 0.63.
Rayonier (NYSE:RYN) last issued its earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $132.10 million for the quarter, compared to analysts’ expectations of $116.36 million. Rayonier’s revenue was up 14.1% on a year-over-year basis. On average, analysts anticipate that Rayonier Inc. will post $0.38 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.78%. The ex-dividend date is Wednesday, September 14th. Rayonier’s payout ratio is 80.00%.
Several research analysts have recently weighed in on RYN shares. TheStreet raised shares of Rayonier from a “hold” rating to a “buy” rating in a report on Thursday, August 4th. Zacks Investment Research raised shares of Rayonier from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Monday, August 8th. Finally, Buckingham Research cut shares of Rayonier from a “buy” rating to a “neutral” rating and set a $29.00 price objective for the company. in a report on Wednesday, September 7th. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $26.75.
In other news, Director Andrew G. Wiltshire purchased 4,000 shares of the stock in a transaction dated Wednesday, September 14th. The shares were acquired at an average cost of $25.77 per share, for a total transaction of $103,080.00. Following the acquisition, the director now owns 11,356 shares of the company’s stock, valued at $292,644.12. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Shelby L. Pyatt sold 1,500 shares of the firm’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 in the company, valued at $166,404.90. The disclosure for this sale can be found here. Company insiders own 0.58% of the company’s stock.
Rayonier Inc (Rayonier) is a timberland real estate investment trust (REIT). As of December 31, 2014, the Company owned, leased or managed 2.7 million acres of timberlands located in the United States South (1.9 million acres), United States Pacific Northwest (372,000 acres) and New Zealand (451,000 gross acres, or 309,000 net plantable acres).
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