Bank of New York Mellon Corp raised its holdings in shares of Rayonier Inc. (NYSE:RYN) by 3.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,618,856 shares of the real estate investment trust’s stock after purchasing an additional 46,586 shares during the period. Bank of New York Mellon Corp owned 1.26% of Rayonier worth $46,769,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Advisor Group Inc. lifted its position in Rayonier by 22.0% during the 2nd quarter. Advisor Group Inc. now owns 3,566 shares of the real estate investment trust’s stock valued at $103,000 after purchasing an additional 642 shares during the period. Riverhead Capital Management LLC raised its position in shares of Rayonier by 88.0% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,324 shares of the real estate investment trust’s stock valued at $124,000 after acquiring an additional 2,024 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Rayonier by 7.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,772 shares of the real estate investment trust’s stock valued at $137,000 after acquiring an additional 351 shares during the period. Creative Planning raised its position in shares of Rayonier by 36.2% in the 2nd quarter. Creative Planning now owns 5,326 shares of the real estate investment trust’s stock valued at $153,000 after acquiring an additional 1,417 shares during the period. Finally, Bluestein R H & Co. acquired a new stake in shares of Rayonier in the 2nd quarter valued at approximately $201,000. Institutional investors own 83.39% of the company’s stock.
Shares of Rayonier Inc. (NYSE RYN) traded down $0.52 during trading hours on Tuesday, hitting $30.98. 335,300 shares of the company were exchanged, compared to its average volume of 541,934. The firm has a market cap of $4,061.35, a P/E ratio of 64.29, a price-to-earnings-growth ratio of 11.72 and a beta of 0.39. The company has a quick ratio of 1.45, a current ratio of 1.74 and a debt-to-equity ratio of 0.62. Rayonier Inc. has a 1-year low of $26.15 and a 1-year high of $31.79.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.00 annualized dividend and a yield of 3.23%. Rayonier’s dividend payout ratio (DPR) is currently 95.24%.
A number of brokerages recently weighed in on RYN. BMO Capital Markets reiterated a “hold” rating and issued a $31.00 price target on shares of Rayonier in a research report on Thursday, November 2nd. Zacks Investment Research downgraded shares of Rayonier from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Royal Bank Of Canada reiterated a “hold” rating and issued a $29.00 price target on shares of Rayonier in a research report on Sunday, October 8th. Finally, BidaskClub upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Rayonier currently has an average rating of “Buy” and a consensus price target of $31.25.
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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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