D.A. Davidson & CO. lessened its stake in Rayonier Inc. (NYSE:RYN) by 61.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 8,077 shares of the real estate investment trust’s stock after selling 13,056 shares during the quarter. D.A. Davidson & CO.’s holdings in Rayonier were worth $273,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in Rayonier by 4.5% in the 2nd quarter. BlackRock Inc. now owns 13,594,331 shares of the real estate investment trust’s stock valued at $525,964,000 after buying an additional 580,100 shares during the period. Renaissance Technologies LLC grew its position in Rayonier by 26.2% in the second quarter. Renaissance Technologies LLC now owns 2,370,400 shares of the real estate investment trust’s stock worth $91,711,000 after acquiring an additional 491,650 shares in the last quarter. Northern Trust Corp grew its position in Rayonier by 0.9% in the second quarter. Northern Trust Corp now owns 2,182,268 shares of the real estate investment trust’s stock worth $84,432,000 after acquiring an additional 20,391 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd grew its position in Rayonier by 191.7% in the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 1,245,414 shares of the real estate investment trust’s stock worth $42,107,000 after acquiring an additional 818,534 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in Rayonier by 5.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 991,381 shares of the real estate investment trust’s stock worth $38,357,000 after acquiring an additional 51,903 shares in the last quarter. Hedge funds and other institutional investors own 84.72% of the company’s stock.

RYN stock opened at $31.77 on Friday. The company has a quick ratio of 2.54, a current ratio of 2.87 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $3.95 billion, a price-to-earnings ratio of 48.88, a price-to-earnings-growth ratio of 7.57 and a beta of 0.47. Rayonier Inc. has a 12 month low of $29.27 and a 12 month high of $39.73.

Rayonier (NYSE:RYN) last posted its earnings results on Wednesday, October 31st. The real estate investment trust reported $0.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.12. The company had revenue of $200.90 million during the quarter, compared to the consensus estimate of $179.87 million. Rayonier had a net margin of 18.48% and a return on equity of 7.34%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.19 earnings per share. On average, equities research analysts predict that Rayonier Inc. will post 0.81 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Monday, December 17th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend is Friday, December 14th. Rayonier’s dividend payout ratio is 166.15%.

Separately, ValuEngine raised shares of Rayonier from a “hold” rating to a “buy” rating in a research report on Monday, November 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Rayonier has a consensus rating of “Hold” and an average target price of $36.50.

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Rayonier Company Profile

Rayonier is a leading timberland real estate investment trust with assets located in some of the most productive softwood timber growing regions in the United States and New Zealand. As of September 30, 2018, Rayonier owned, leased or managed approximately 2.6 million acres of timberlands located in the U.S.

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Institutional Ownership by Quarter for Rayonier (NYSE:RYN)

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