Rayonier Inc. (RYN) Shares Bought by American International Group Inc.
American International Group Inc. boosted its position in Rayonier Inc. (NYSE:RYN) by 0.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 237,443 shares of the real estate investment trust’s stock after buying an additional 44 shares during the period. American International Group Inc. owned about 0.19% of Rayonier worth $6,302,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Sei Investments Co. boosted its stake in shares of Rayonier by 68.4% in the third quarter. Sei Investments Co. now owns 3,859 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 1,568 shares during the period. Creative Planning boosted its stake in shares of Rayonier by 1.0% in the third quarter. Creative Planning now owns 3,942 shares of the real estate investment trust’s stock valued at $105,000 after buying an additional 40 shares during the period. Robeco Institutional Asset Management B.V. bought a new stake in shares of Rayonier during the third quarter valued at about $122,000. Tower Research Capital LLC TRC bought a new stake in shares of Rayonier during the second quarter valued at about $176,000. Finally, LS Investment Advisors LLC boosted 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 valued at $193,000 after buying an additional 3,077 shares during the period. Institutional investors own 84.38% of the company’s stock.
Shares of Rayonier Inc. (NYSE:RYN) traded up 0.44% on Friday, reaching $27.45. 40,524 shares of the company’s stock traded hands. The firm has a market cap of $3.37 billion, a P/E ratio of 19.37 and a beta of 0.38. The company’s 50-day moving average price is $27.15 and its 200 day moving average price is $26.78. Rayonier Inc. has a one year low of $17.85 and a one year high of $28.47.
Rayonier (NYSE:RYN) last issued its quarterly earnings results on Wednesday, November 2nd. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.20. Rayonier had a net margin of 24.68% and a return on equity of 5.37%. The company earned $171.40 million during the quarter, compared to analyst estimates of $153.91 million. During the same quarter last year, the business posted $0.17 EPS. Rayonier’s quarterly revenue was up 13.0% compared to the same quarter last year. On average, equities analysts forecast that Rayonier Inc. will post $0.55 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Friday, December 16th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, December 14th. This represents a $1.00 annualized dividend and a dividend yield of 3.66%. Rayonier’s payout ratio is currently 70.92%.
Several equities research analysts recently issued reports on RYN shares. Raymond James Financial, Inc. upgraded Rayonier from a “market perform” rating to an “outperform” rating in a research note on Monday. Zacks Investment Research cut Rayonier from a “buy” rating to a “hold” rating in a research note on Tuesday, January 3rd. Finally, RBC Capital Markets reiterated a “hold” rating and issued a $27.00 price target on shares of Rayonier in a research note on Friday, January 6th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $26.80.
In other news, VP Mark R. Bridwell sold 2,114 shares of the firm’s stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $26.84, for a total transaction of $56,739.76. Following the completion of the sale, the vice president now owns 14,925 shares in the company, valued at approximately $400,587. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Andrew G. Wiltshire purchased 4,000 shares of the firm’s stock in a transaction dated Wednesday, November 9th. The shares were bought at an average price of $26.16 per share, with a total value of $104,640.00. Following the purchase, the director now owns 19,356 shares in the company, valued at $506,352.96. The disclosure for this purchase can be found here. 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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