Rayonier Inc. (RYN) Shares Sold by Rafferty Asset Management LLC
Rafferty Asset Management LLC decreased its stake in shares of Rayonier Inc. (NYSE:RYN) by 21.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,211 shares of the real estate investment trust’s stock after selling 3,526 shares during the period. Rafferty Asset Management LLC’s holdings in Rayonier were worth $347,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. BB&T Corp increased its position in Rayonier by 0.3% in the second quarter. BB&T Corp now owns 38,324 shares of the real estate investment trust’s stock valued at $1,006,000 after buying an additional 110 shares during the period. Commonwealth Equity Services Inc increased its position in shares of Rayonier by 0.7% in the first quarter. Commonwealth Equity Services Inc now owns 18,617 shares of the real estate investment trust’s stock valued at $459,000 after buying an additional 136 shares during the last quarter. State Treasurer State of Michigan increased its position in shares of Rayonier by 0.4% in the second quarter. State Treasurer State of Michigan now owns 49,209 shares of the real estate investment trust’s stock valued at $1,291,000 after buying an additional 200 shares during the last quarter. Spinnaker Trust increased its position in shares of Rayonier by 1.8% in the second quarter. Spinnaker Trust now owns 34,499 shares of the real estate investment trust’s stock valued at $905,000 after buying an additional 624 shares during the last quarter. Finally, Bollard Group LLC increased its position in shares of Rayonier by 1.0% in the second quarter. Bollard Group LLC now owns 86,722 shares of the real estate investment trust’s stock valued at $2,276,000 after buying an additional 833 shares during the last quarter. Institutional investors and hedge funds own 85.00% of the company’s stock.
Shares of Rayonier Inc. (NYSE:RYN) traded up 1.9170% on Monday, reaching $26.3965. 170,010 shares of the company’s stock were exchanged. The company’s 50 day moving average is $27.20 and its 200-day moving average is $25.59. Rayonier Inc. has a one year low of $17.85 and a one year high of $28.16. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of 21.1680 and a beta of 0.63.
Rayonier (NYSE:RYN) last posted its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.04. Rayonier had a return on equity of 4.06% and a net margin of 22.52%. The business earned $132.10 million during the quarter, compared to the consensus estimate of $116.36 million. Rayonier’s revenue was up 14.1% compared to the same quarter last year. On average, analysts anticipate that Rayonier Inc. will post $0.38 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $1.00 annualized dividend and a yield of 3.83%. Rayonier’s payout ratio is 80.00%.
Several research analysts recently commented on the stock. Buckingham Research downgraded shares of Rayonier from a “buy” rating to a “neutral” rating and set a $29.00 target price on the stock. in a research note on Wednesday, September 7th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Rayonier from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research note on Monday, August 8th. Finally, TheStreet raised shares of Rayonier from a “hold” rating to a “buy” rating in a research note on Thursday, August 4th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $26.75.
In other Rayonier news, Director Andrew G. Wiltshire purchased 4,000 shares of the company’s stock in a transaction on Wednesday, September 14th. The stock was acquired at an average cost of $25.77 per share, for a total transaction of $103,080.00. Following the purchase, the director now directly owns 11,356 shares of the company’s stock, valued at approximately $292,644.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Shelby L. Pyatt sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, August 19th. The stock was 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 $166,404.90. The disclosure for this sale can be found here. 0.58% of the stock is owned by company insiders.
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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