Stevens Capital Management LP bought a new position in Rayonier Inc. (NYSE:RYN) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 39,159 shares of the real estate investment trust’s stock, valued at approximately $1,110,000.
A number of other hedge funds have also recently added to or reduced their stakes in RYN. Sei Investments Co. increased its stake in Rayonier by 68.4% in the third quarter. Sei Investments Co. now owns 3,859 shares of the real estate investment trust’s stock worth $103,000 after buying an additional 1,568 shares during the last quarter. IFP Advisors Inc increased its stake in Rayonier by 1.8% in the first quarter. IFP Advisors Inc now owns 3,881 shares of the real estate investment trust’s stock worth $110,000 after buying an additional 67 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Rayonier by 140.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 5,733 shares of the real estate investment trust’s stock worth $151,000 after buying an additional 3,348 shares during the period. Washington Trust Bank boosted its position in shares of Rayonier by 2,490.8% in the first quarter. Washington Trust Bank now owns 7,021 shares of the real estate investment trust’s stock worth $199,000 after buying an additional 6,750 shares during the period. Finally, Franklin Street Advisors Inc. NC bought a new position in shares of Rayonier during the first quarter worth approximately $213,000. Institutional investors own 84.66% of the company’s stock.
Rayonier Inc. (NYSE:RYN) traded up 1.09% during trading on Friday, hitting $27.77. The stock had a trading volume of 939,674 shares. The stock has a 50 day moving average price of $28.24 and a 200-day moving average price of $27.83. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of 14.79 and a beta of 0.37. Rayonier Inc. has a 12 month low of $24.47 and a 12 month high of $29.86.
Rayonier (NYSE:RYN) last issued its quarterly earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.10 by $0.05. Rayonier had a return on equity of 4.85% and a net margin of 26.89%. The business had revenue of $186.50 million during the quarter, compared to analysts’ expectations of $159.31 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. The company’s quarterly revenue was up 38.4% compared to the same quarter last year. On average, equities analysts predict that Rayonier Inc. will post $0.37 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 16th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.64%. Rayonier’s payout ratio is 58.14%.
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RYN has been the topic of a number of analyst reports. BMO Capital Markets reaffirmed a “buy” rating and issued a $31.00 price target on shares of Rayonier in a research note on Thursday, March 16th. Zacks Investment Research raised Rayonier from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research note on Monday, April 17th. Vertical Research cut Rayonier from a “buy” rating to a “hold” rating in a research note on Wednesday, February 15th. Finally, DA Davidson cut Rayonier from a “buy” rating to a “neutral” rating in a research note on Thursday, February 16th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $29.80.
In other news, SVP Douglas M. Long sold 2,305 shares of the stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $29.51, for a total value of $68,020.55. Following the sale, the senior vice president now directly owns 8,556 shares in the company, valued at $252,487.56. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Andrew G. Wiltshire purchased 6,650 shares of Rayonier stock in a transaction dated Wednesday, May 10th. The stock was acquired at an average price of $27.87 per share, for a total transaction of $185,335.50. Following the completion of the acquisition, the director now owns 26,006 shares of the company’s stock, valued at approximately $724,787.22. The disclosure for this purchase 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 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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