Baker Ellis Asset Management LLC decreased its stake in shares of Rayonier Inc. (NYSE:RYN) by 0.9% during the second quarter, Holdings Channel reports. The firm owned 57,492 shares of the real estate investment trust’s stock after selling 549 shares during the period. Baker Ellis Asset Management LLC’s holdings in Rayonier were worth $1,509,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the stock. Integrated Investment Consultants LLC bought a new stake in Rayonier during the second quarter valued at approximately $100,000. LS Investment Advisors LLC boosted 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 period. Hartford Financial Management Inc. boosted its stake in Rayonier by 14.4% in the second quarter. Hartford Financial Management Inc. now owns 9,950 shares of the real estate investment trust’s stock valued at $261,000 after buying an additional 1,250 shares during the period. Stelac Advisory Services LLC boosted its stake 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 period. Finally, Canada Pension Plan Investment Board boosted its stake 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 period. 84.91% of the stock is currently owned by institutional investors and hedge funds.
Shares of Rayonier Inc. (NYSE:RYN) traded down 0.27% during trading on Wednesday, reaching $25.60. 512,540 shares of the company traded hands. The company has a 50 day moving average price of $26.90 and a 200 day moving average price of $25.99. The firm has a market capitalization of $3.14 billion, a price-to-earnings ratio of 20.53 and a beta of 0.55. Rayonier Inc. has a 12-month low of $17.85 and a 12-month high of $28.16.
Rayonier (NYSE:RYN) last issued its earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.07 EPS for the quarter, beating the consensus estimate of $0.03 by $0.04. The company earned $132.10 million during the quarter, compared to analysts’ expectations of $116.36 million. Rayonier had a net margin of 22.52% and a return on equity of 4.06%. The firm’s revenue was up 14.1% compared to the same quarter last year. On average, equities analysts predict that Rayonier Inc. will post $0.38 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.91%. The ex-dividend date of this dividend was Wednesday, September 14th. Rayonier’s payout ratio is presently 80.00%.
Several analysts have recently commented on the stock. Zacks Investment Research raised shares of Rayonier from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Monday, August 8th. Buckingham Research cut shares of Rayonier from a “buy” rating to a “neutral” rating and set a $29.00 price target on the stock. in a research note on Wednesday, September 7th. They noted that the move was a valuation call. Finally, TheStreet raised shares of Rayonier from a “hold” rating to a “buy” rating in a research note on Thursday, August 4th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $26.75.
In related news, Director Andrew G. Wiltshire purchased 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The shares were bought at an average cost of $25.77 per share, with a total value of $103,080.00. Following the acquisition, the director now owns 11,356 shares of the company’s stock, valued at approximately $292,644.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Shelby L. Pyatt sold 1,500 shares of Rayonier stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $26.97, for a total transaction of $40,455.00. Following the sale, the vice president now directly owns 6,170 shares in the company, valued at $166,404.90. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by 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.
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 Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rayonier Inc. and related companies with MarketBeat.com's FREE daily email newsletter.