Schulhoff & Co. Inc. lowered its position in Rayonier Inc. (NYSE:RYN) by 0.9% during the second quarter, Holdings Channel reports. The fund owned 49,889 shares of the real estate investment trust’s stock after selling 445 shares during the period. Schulhoff & Co. Inc.’s holdings in Rayonier were worth $1,309,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Teachers Advisors Inc. boosted its stake in shares of Rayonier by 51.1% in the first quarter. Teachers Advisors Inc. now owns 166,530 shares of the real estate investment trust’s stock worth $4,110,000 after buying an additional 56,295 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of Rayonier by 249.3% in the first quarter. Prudential Financial Inc. now owns 261,656 shares of the real estate investment trust’s stock worth $6,457,000 after buying an additional 186,750 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of 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 worth $333,000 after buying an additional 2,800 shares during the last quarter. Rafferty Asset Management LLC boosted its stake in shares of Rayonier by 49.3% in the first quarter. Rafferty Asset Management LLC now owns 16,737 shares of the real estate investment trust’s stock worth $413,000 after buying an additional 5,525 shares during the last quarter. Finally, UBS Group AG boosted its stake in shares of Rayonier by 5.7% in the first quarter. UBS Group AG now owns 54,333 shares of the real estate investment trust’s stock worth $1,341,000 after buying an additional 2,930 shares during the last quarter. Hedge funds and other institutional investors own 84.87% of the company’s stock.
Shares of Rayonier Inc. (NYSE:RYN) traded up 1.17% during midday trading on Tuesday, hitting $26.04. 144,985 shares of the company traded hands. Rayonier Inc. has a 12-month low of $17.85 and a 12-month high of $28.16. The stock has a market capitalization of $3.19 billion, a P/E ratio of 20.88 and a beta of 0.55. The stock’s 50-day moving average is $26.51 and its 200 day moving average is $26.07.
Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, beating the 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 earned $132.10 million during the quarter, compared to the consensus estimate of $116.36 million. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. On average, analysts expect that Rayonier Inc. will post $0.38 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend was Wednesday, September 14th. Rayonier’s dividend payout ratio is currently 80.00%.
RYN has been the subject of a number of research reports. TheStreet upgraded shares of Rayonier from a “hold” rating to a “buy” rating in a report on Thursday, August 4th. Zacks Investment Research upgraded shares of Rayonier from a “hold” rating to a “buy” rating and set a $30.00 target price 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 target price for the company. in a report on Wednesday, September 7th. They noted that the move was a valuation call. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Rayonier currently has an average rating of “Buy” and an average target price of $26.75.
In other news, Director Andrew G. Wiltshire purchased 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 14th. The stock was purchased at an average cost of $25.77 per share, with a total value of $103,080.00. Following the acquisition, the director now directly owns 11,356 shares of the company’s stock, valued at approximately $292,644.12. The transaction was disclosed in a 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 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 transaction, the vice president now directly owns 6,170 shares of the company’s stock, valued at $166,404.90. The disclosure for this sale can be found here. Corporate insiders own 0.58% of the company’s stock.
Rayonier Company Profile
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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