Cambridge Investment Research Advisors Inc. grew its position in Rayonier Inc. (NYSE:RYN – Get Rating) by 4.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,300 shares of the real estate investment trust’s stock after purchasing an additional 737 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Rayonier were worth $537,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of RYN. Vanguard Group Inc. lifted its stake in Rayonier by 2.0% in the third quarter. Vanguard Group Inc. now owns 21,486,063 shares of the real estate investment trust’s stock valued at $643,938,000 after buying an additional 418,687 shares during the period. Northern Trust Corp boosted its stake in Rayonier by 31.3% in the 1st quarter. Northern Trust Corp now owns 1,450,004 shares of the real estate investment trust’s stock valued at $59,624,000 after purchasing an additional 345,821 shares during the period. Pictet Asset Management SA raised its stake in Rayonier by 6.2% in the 3rd quarter. Pictet Asset Management SA now owns 4,965,062 shares of the real estate investment trust’s stock worth $148,803,000 after purchasing an additional 287,818 shares in the last quarter. Diamond Hill Capital Management Inc. increased its stake in Rayonier by 10.9% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,981,858 shares of the real estate investment trust’s stock worth $59,396,000 after acquiring an additional 194,773 shares during the period. Finally, State Street Corp grew its stake in Rayonier by 4.6% during the first quarter. State Street Corp now owns 3,836,074 shares of the real estate investment trust’s stock worth $157,739,000 after buying an additional 169,024 shares in the last quarter. Institutional investors own 82.87% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on the stock. Citigroup decreased their target price on shares of Rayonier from $39.00 to $36.00 and set a “neutral” rating on the stock in a research note on Thursday, April 6th. StockNews.com assumed coverage on Rayonier in a research note on Thursday, May 18th. They set a “sell” rating for the company. TheStreet cut shares of Rayonier from a “b-” rating to a “c+” rating in a research note on Thursday, May 11th. Finally, Truist Financial started coverage on shares of Rayonier in a research note on Monday, May 15th. They issued a “hold” rating and a $33.00 target price for the company.
Rayonier Stock Performance
Rayonier (NYSE:RYN – Get Rating) last released its quarterly earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.07). The business had revenue of $179.10 million during the quarter, compared to the consensus estimate of $210.13 million. Rayonier had a return on equity of 3.44% and a net margin of 9.94%. The firm’s revenue was down 19.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.20 earnings per share. Equities research analysts anticipate that Rayonier Inc. will post 0.36 earnings per share for the current fiscal year.
Rayonier Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 16th will be given a dividend of $0.285 per share. The ex-dividend date is Thursday, June 15th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.93%. Rayonier’s payout ratio is 196.55%.
Rayonier, Inc is a real estate investment trust, which engages in investment in timberlands. It operates through the following business segments: Southern Timber, Pacific Northwest Timber, New Zealand Timber, Real Estate, Timber Funds and Trading. The Southern Timber, Pacific Northwest Timber and New Zealand Timber segments reflect all activities related to the harvesting of timber and other value-added activities, such as recreational licenses, within each respective geography.
- Get a free copy of the StockNews.com research report on Rayonier (RYN)
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