Rayonier Inc. (RYN) Position Boosted by Shinko Asset Management Co. Ltd.
Shinko Asset Management Co. Ltd. raised its position in Rayonier Inc. (NYSE:RYN) by 0.1% during the second quarter, Holdings Channel reports. The firm owned 3,429,792 shares of the real estate investment trust’s stock after buying an additional 2,367 shares during the period. Shinko Asset Management Co. Ltd.’s holdings in Rayonier were worth $89,998,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Integrated Investment Consultants LLC acquired a new stake in shares of Rayonier during the second quarter worth about $100,000. LS Investment Advisors LLC increased its stake in shares of 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 worth $193,000 after buying an additional 3,077 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Rayonier by 53.3% in the first quarter. Envestnet Asset Management Inc. now owns 8,880 shares of the real estate investment trust’s stock worth $219,000 after buying an additional 3,086 shares during the period. Hartford Financial Management Inc. increased its stake in shares of 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 worth $261,000 after buying an additional 1,250 shares during the period. Finally, Stelac Advisory Services LLC increased its stake in shares of 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 worth $281,000 after buying an additional 2,791 shares during the period. Institutional investors own 85.00% of the company’s stock.
Shares of Rayonier Inc. (NYSE:RYN) traded down 0.58% on Friday, hitting $25.90. The stock had a trading volume of 761,245 shares. The stock has a market cap of $3.17 billion, a PE ratio of 20.77 and a beta of 0.63. The company has a 50 day moving average price of $27.20 and a 200-day moving average price of $25.59. Rayonier Inc. has a 12 month low of $17.85 and a 12 month high of $28.16.
Rayonier (NYSE:RYN) last issued its quarterly earnings data on Wednesday, August 3rd. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business’s revenue was up 14.1% on a year-over-year basis. On average, equities research analysts anticipate that Rayonier Inc. will post $0.38 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.86%. The ex-dividend date of this dividend is Wednesday, September 14th. Rayonier’s dividend payout ratio is currently 80.00%.
RYN has been the topic of a number of research reports. Zacks Investment Research upgraded Rayonier from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Monday, August 8th. TheStreet upgraded Rayonier from a “hold” rating to a “buy” rating in a research report on Thursday, August 4th. Finally, Buckingham Research downgraded Rayonier from a “buy” rating to a “neutral” rating and set a $29.00 price target on the stock. in a research 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. The company currently has a consensus rating of “Buy” and a consensus target price of $26.75.
In related news, VP Shelby L. Pyatt sold 1,500 shares of the company’s stock in a transaction on Friday, August 19th. The shares were sold at an average price of $26.97, for a total value of $40,455.00. Following the completion of the transaction, the vice president now owns 6,170 shares of the company’s stock, valued at approximately $166,404.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Andrew G. Wiltshire bought 4,000 shares of the company’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 in the company, valued at approximately $292,644.12. The disclosure for this purchase can be found here. 0.58% of the stock is currently owned by corporate insiders.
Rayonier Company Profile
Rayonier Inc (Rayonier) is a timberland real estate investment trust (REIT). As of December 31, 2014, the Company owned, leased or managed 2.7 million acres of timberlands located in the United States South (1.9 million acres), United States Pacific Northwest (372,000 acres) and New Zealand (451,000 gross acres, or 309,000 net plantable acres).
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